SAN ANTONIO, May 30, 2012 /CNW/ - XPEL Technologies Corp. (TSXV: DAP.U) today announced results for the three months ended March 31, 2012 as compared to the three months ended March 31, 2011.
For the Quarter Ended March 31, 2012:
Revenues. Revenues increased 88% to $1,993,597 from $1,063,065 in Q1 2011.
Direct Costs. Direct Costs of sales increased as a percentage of revenue to 61% from 54% in Q1 2011.
Expenses. General and administrative expenses increased 34% to $534,833 in Q1 2012 from $400,364 in Q1 2011.
Net earnings. The Company had net income of $242,831 in Q1 2012 as compared to net income of $86,205 in Q1 2011.
Complete financials are available at http://www.xpel.com/relations/.
About XPEL Technologies Corp:
XPEL is the leading supplier of automotive paint and headlamp protection films with over 70,000 vehicle-specific applications and a worldwide network of trained installers. Additional information can be found on the Company's website at www.xpel.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Chief Executive Officer
XPEL Technologies Corp.
SOURCE XPEL Technologies Corp.
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