Xplore Technologies Corp. announced that it generated revenue of $6,011,000 for the three months ended December 31, 2008; an 11% increase over the $5,394,000 reported for the three months ended December 31, 2007. The Company's net loss was approximately $2,308,000 ($0.03 per share) and $2,287,000 ($0.03 per share) for the three months ended December 31, 2008 and 2007, respectively.
Mark Holleran, President and CEO, commented, Despite challenging circumstances in the marketplace, we have been able to grow revenues over the prior period. We believe our recent launch of our new generation of the iX104 enabled this growth. In these times where the marketplace is to do more with less, we believe our products are being well received because they enable cost reductions via enhanced productivity and automation.
Michael J. Rapisand, Chief Financial Officer, added We believe we reacted quickly to the current market conditions by reducing our headcount by approximately 43% during our last quarter. Additionally, our development spending has been reduced and is limited solely to products we expect to introduce to the market in 2009. We have and continue to evaluate all other operating costs with a view to further reduce our operating expenses. We estimate that these cost reduction actions should significantly reduce our calendar 2009 cash operating expenses.