Xplore Technologies Reports Profitable Fiscal Third Quarter 2017

Forward Looking Statements
This news release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions are intended to identify forward-looking statements. Such statements reflect Xplore’s current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause actual results to differ materially from the statements made including those factors detailed from time to time in filings made by Xplore with securities regulatory authorities. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated or expected. Xplore does not intend and does not assume any obligation to update these forward-looking statements. 

 
XPLORE TECHNOLOGIES CORP.
Consolidated Balance Sheets
(in thousands)
 
   December 31,
2016
   March 31,
2016
 
ASSETS (unaudited)    
CURRENT ASSETS:      
Cash and cash equivalents $4,099  $5,594 
Accounts receivable, net  16,213   14,277 
Inventory, net  15,161   14,858 
Prepaid expenses and other current assets  475   800 
Total current assets  35,948   35,529 
Fixed assets, net  1,703   1,003 
Intangible assets, net  1,515   1,785 
Goodwill  15,159   14,872 
  $54.325  $53,189 
LIABILITIES AND STOCKHOLDERS’ EQUITY        
LIABILITIES:        
Short-term indebtedness with bank $5,096  $ 
Accounts payable  7,701   9,611 
Accrued liabilities  4,359   3,409 
Deferred revenue and current warranty liabilities  3,622   4,413 
Total current liabilities  20,778   17,433 
Deferred revenue and non-current warranty liabilities  3,898   4,568 
Total liabilities  24,676   22,001 
Commitments and contingencies      
STOCKHOLDERS’ EQUITY:        
Preferred Stock, par value $0.001 per share; authorized 5,000; no shares issued      
Common Stock, par value $0.001 per share; authorized 15,000; shares issued 10,947 and 10,908, respectively     11       11  
Additional paid-in capital     171,663       171,138  
Accumulated deficit     (142,025 )     (139,961 )
      29,649       31,188  
    $ 54,325     $ 53,189  
                 

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