Clemex Discloses First Quarter Results
October 26 2011 - 4:20PM
PR Newswire (Canada)
22% increase in sales Symbol: CXG.A-CDNX www.clemex.com
Shares Outstanding: 23,999,810 MONTREAL, Oct. 26, 2011 /CNW
Telbec/ - Clemex Technologies Inc. , designer and manufacturer of
Image Analysis systems and software for microscopy applications,
announces its results for the first quarter of FY2012 ending July
31 2011. For this first quarter, sales reached $1,240,830 an
increase of $223,975 or 22% compared to the same period last year.
The Corporation ends this quarter with a Net Loss of $46,247
compared to a Net Profit of $51,032 posted last year. During this
past Quarter, sales where made mainly abroad to the manufacturing
sector industries such as: GE India, (Bangalore, India), Tubos De
Acero de Mexico, (Valenzuala Mexico), Bharat Forge, (Maharastra
India) and DeHua, HongKong, China). Sales were also made to
manufacturing industries in USA, Depuy Miktek (Brunswick, NJ) and
Precision Equipment Leasing, (Houston, TX). FINANCIAL HIGHLIGHTS
First Quarter Fiscal Year 2012 2011(1) $ $ Sales 1,240,830
1,016,855 Gross Margin 668,172 628,112 Gross Margin % 53.8% 61.8%
Total Operating Expenses 686 419 544 080 Income Taxes 28,000 33,000
Net Profit(Loss) (46,247) 51,032 Net Profit(Loss) per share (0.002)
0.002 ((1)) Figures for Q1 2011 have been restated to conform to
IFRS. Clement Forget, President and CEO of Clemex Technologies Inc.
declared: "We are pleased to see a significant increase in sales
this first quarter, which demonstrates Clemex's dynamism to
business development. We have concluded our first sales with regard
to the distribution of microscopes parts in Canada. Although, it
has been a slower start than anticipated and our gross margin has
been affected slightly more than we expected, we believe that this
agreement will generate positive growth over the next quarters."
Furthermore, the increase in operating expenses of the Company
comes notably from an increase in R&D expenses of $ 78,000
compared to last year. This is caused by the NRCC-IRAP grant which
ended shortly after the end of the first quarter last year, while
the Company group keeps working intensively to complete the
development of our hematology project. He continued, "The new
strategic alliance recently signed with our partner in France, RAL
Diagnostics, will also begin to develop new business for our
products over the next quarters, and will translate into positive
results over the next few months. Commercial development outlook
for the Company remain very good, and should bring growth over the
next months as we get into the more active months of our business
industry." About Clemex Technologies, Inc. Clemex Technologies Inc.
develops, manufactures and markets image analysis systems and
software used by quality control and research microscopy
laboratories. Clemex's customer base spans over many
countries in America, Europe, Asia and encompasses major Research
and Development Centers, prestigious Universities and large
manufacturing industries in various fields including healthcare,
automotive, aerospace, raw materials manufacturing,
pharmaceuticals, mining and other sectors. The CDNX has not
reviewed and does not accept responsibility for the adequacy and
accuracy of this press release. CLEMEX TECHNOLOGIES INC.
CONTACT: CLEMEX TECHNOLOGIES INC, 800 Guimond,Longueuil, QC, Canada
J4G 1T5,Contact:Clément Forget,President and CEOTel:
450.651.6573Email: ir@clemex.com
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