Record High First Quarter Revenue Growth

May 30th, 2018 by Emmariah Holcomb

XPEL Technologies Corp. hit the ground running by striking a record high in revenue growth in the first quarter of 2018. The leading supplier of window films and automotive paint protection says it grew nearly 100 percent.

“First quarter 2018 is the strongest quarter in our company’s history, with record revenues reflecting strong demand across all of our product lines,” said Ryan Pape, president and CEO of XPEL. “Business’ first quarters often set the stage for the rest of the year, making this a quarter hard to surpass. We are energized by the tremendous growth achieved in the first quarter and the increased demand for our products and unique services.”

First quarter highlights:

  • Revenues increased 99.5 percent to $25.2 million compared to first quarter 2017; Sequential revenue growth of 24.5 percent compared to fourth quarter of 2018
  • Gross margin improved to 29.7 percent compared to 26.4 percent in first quarter 2017

Selling, general and administrative expenses decreased to 19.4 percent as a percentage of revenue

  • Earnings per share of $0.07 compared to a loss of ($0.002) per share in first quarter 2017

The company also increased the number of people working for them. By hiring more staff, there was also a spike in occupancy, sales, marketing and information technology, which directly affected growth. As a result, selling, general and administrative expenses increased by $1.6 million or 47.7 percent vs. last year.

“We remain focused on continuing to drive profitable growth as we expand our presence in both domestic and international markets, capture new customers and grow our market share,” Pape said.

This article is from Focus on Film, the weekly e-newsletter that covers the latest news regarding window film and related products, including paint protection film. Click HERE to sign up—there is no charge. Interested in a deeper dive? Free subscriptions to Window Film magazine in print or digital format are available. Subscribe at no charge HERE.

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