Xplore Technologies Corp. (NASDAQ: XPLR)
Xplore Technologies Corp. shares are up $1.89, or 46.67% to trade at $5.95, after the company entered into a definitive acquisition agreement with Zebra Technologies Corp.
Under terms of the deal, Xplore will receive $6.00 in cash for each of its outstanding shares. Zebra plans to complete the transaction through a tender offer.
Xplore also announced its fourth-quarter earnings results with revenue going up 20%. XPLR stock has gained nearly 43% since the beginning of the year.
XPLR Earnings & Outlook
The company reported a revenue of $20.3 million during the quarter, compared to $16.9 million in the earlier year period.
Gross profit was $5.7 million, versus $4.8 million in the fourth quarter of 2017. For the quarter, the company posted a net loss of $638,000, or $0.05 per share.
In the same period last year, Xplore had net loss of $488,000, or $0.04 per share.
Xplore Technologies CEO Comments
Tom Wilkinson, the company’s Chief Executive Officer said, “As promised, we reported a strong finish to fiscal 2018, delivering an almost 12% increase in annual sales, positive GAAP net income for the year and significant progress on our transformation into a diversified, profitable rugged mobility company serving an addressable market in excess of $4 billion. Our success as the #2 global provider of rugged tablets and strong growth outlook earned the notice of Zebra Technologies, the global leader in rugged mobile computers, barcode scanners and barcode printers.”
“This morning we announced an agreement to be acquired by Zebra for $6.00 per share. We are excited to join Zebra, and believe this acquisition validates the incredible work our team does every day to develop innovative rugged mobility solutions to serve our customers. Our products are a natural fit for Zebra and gives them a highly complementary rugged tablet portfolio and customer base that stands strong against any competition,” Wilkin concluded.
Xplore Technologies Corp. Company Profile
Xplore Technologies Corp. is involved in the development, integration, and marketing of rugged mobile PC systems in Canada, US, and worldwide.
Its products enable the expansion of traditional computer systems to a wide range of work environments, including warehouse personnel, pharmaceutical scientists, public safety personnel, and energy pipeline inspectors.
The company provides a line of iX104 tablet personal computers designed to operate in a variety of work settings, such as extreme temperatures, dusty conditions, constant vibrations, rain, dusty conditions and blowing dirt.
The PCs are equipped with performance matched accessories consisting of smartcard and biometric modules, multiple docking station solutions, global positioning system modules, wireless connectivity alternatives, and traditional peripherals, like cases, keyboards, and mice.
Its products also comprise of XSlate D10 and XSlate B10 rugged tablets; Motion F5m/C5m and XSLATE R12 tablets; and a rugged tablet known as Bobcat that runs on the Windows operating system.
The company serves warehousing logistics, public safety, transportation, utility, telecommunications, military, field service, gas and oil production, homeland security markets, route delivery, and manufacturing industries.
Xplore Technologies Corp. was founded in 1998 and its headquarters are located in Austin, TX. –Reuters