XPEL’s Second Quarter Results Show Growth

September 2nd, 2015 by Casey Flores

San Antonio, Texas-based XPEL Technologies Corp.’s second quarter (Q2) was a good one, with the company improving in key measurables.

“We have seen continued momentum in the second quarter with solid growth,” says Ryan Pape, president and CEO.

The company’s Q2 highlights are as follows:

Revenue:

Its Q2 revenue totaled $11.3 million, which represents a 35 percent increase year-over-year and a 40 percent increase sequentially as compared to the first quarter.

Gross Profit:

Gross profit for the company as a percentage of sales remained unchanged at 30 percent.

Expenses:

Selling, general and administrative expenses as a percentage of revenue was 21 percent, up slightly from 18 percent in 2014, but down from 25 percent in Q1 2015.

Net Earnings:

Net income for the quarter was $605,653 or $0.02 per basic and diluted share based on 25,784,950 shares outstanding, compared with net income of $595,229, or $0.02 per basic and diluted share based on 25,784,950 shares outstanding, for last year.

The company benefited from purchasing Parasol, a Canada-based paint protection film-installing franchise.

“In addition to good growth in the U.S., our direct presence in Canada and Europe generated strong revenue growth in both regions, despite pressure from the U.S. dollar,” he says, though he notes the exchange rate has impacted revenue. “Elsewhere, the impact of foreign currency on our distributors and the reorganization of our distribution in China reduced growth in the quarter. Across our international subsidiaries, net income would have increased over $300,000 if the relevant exchange rates were at their prior year rates.”

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  1. Well done guys but please keep working on the consistecy of your quality control.I am tired of re-doing my hard work because of inperfection in your quality.Leon Levy Klingshield South Africa

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