TEXAS: San Antonio-based Xpel Technologies Corp. reported an increase in revenue for the third quarter but a decline in net income due in part to currency fluctuations, company officials said.
Third-quarter revenue increased to $10.9 million from $8.4 million for the company, which manufactures films to protect auto paint and headlights.
But its net income dropped to $398,082 from $473,296, partly because of the declining value of the Canadian dollar, CEO Ryan Pape said in a conference call Monday. In the first quarter, Xpel acquired Parasol Canada, a Quebec-based distributor of paint protection and window tint products, for about $3.65 million.
