Xpel Announces Third-Quarter Results

December 9th, 2013 by Editor

San Antonio, Texas-based Xpel Technologies Corp. announced results for the three months ended September 30, 2013, as compared to the three months ended September 30, 2012.

The company shows an increase of 52 percent in revenues over the year, up to $4,877,589 in 2013, compared to $3,207,876 in 2012. Direct costs remained unchanged as a percentage of revenue at 67 percent. Expenses increased, including both general and administrative, by 42 percent to $1,016,634 in 2013 from $717,868 in 2012. Additionally, the company reports $596,895 in net earnings for the third quarter of 2013, compared to the $340,425 pre-tax net earnings seen in the third quarter of 2012. Net income for the third quarter of 2013 was $392,895.

Ryan Pape, Xpel’s president and CEO, says, “We are pleased to continue with good sales growth in the third quarter after exceptional second quarter growth, while also increasing net income sequentially despite the acceleration of our marketing and brand awareness programs.”

View the full statement here.

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