Xpel Increases Revenues 67 Percent During First Quarter 2014

June 4th, 2014 by Editor

Xpel Technologies Corp. announced results for the three months ended March 31, 2014 as compared to the three months ended March 31, 2013, showing the company has increased its revenues 67 percent over the year.

For the quarter ended March 31, 2014 revenues increased to $5,271,873 from $3,156,582 in the first quarter 2013. Direct Costs of sales remained unchanged a percentage of revenue at 66 percent. Additionally, general and administrative expenses increased 73 percent to $1,133,173 in the first quarter 2014 from $656,734 in first quarter 2013. The company also had net income before taxes of $644,285 in the first quarter 2014 as compared to net income before taxes of $400,323 in first quarter 2013. Xpel had net income of $459,285 in first quarter 2014 as compared to net income of $262,323 in first quarter 2013.

“We are pleased to have continued our aggressive revenue growth from 2013 into the first quarter of 2014,” says Ryan Pape, president and CEO. “We experienced growth across all revenue categories, including our paint protection film, Design Access Program software and product installation businesses, both domestically and internationally.”

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  1. I must say your paint protection product is of a very high quality. It is a pleasure to work with as it is installer friendly. I thank you .

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