• Clemex Discloses First Quarter Results for FY 2008

    18/09/2007 12:00:00 AM

    Tuesday, September 18, 2007 - Clemex Technologies Inc. (TSX Venture CXG.a), designer and manufacturer of Image Analysis systems and software for microscopy applications, announced today its FY 2008 first quarter results ending July 31 2007. For this first quarter of FY 2008, sales reached $1,105,274 while they were $1,284,497 for the same period last year. The Corporation ends this Quarter with a Net loss of $ 138,779 compared to a profit of $ 24,066 for the same period last year. A third of this deficit is due to the substantial appreciation of the Canadian dollar during this First Quarter. Gross Margin, however increased to 64.6% from 57.2% for the same period last year. This significant increase is mostly due to the components sales mix during this Quarter. Despite the traditional slowdown in business activity for the First Quarter due to the summer months, these results remain below expectations. International sales were particularly slow during this Quarter posting $194,530. or 47% less than $368,956. for the same period last year. Sales for traditional market applications in North America however remained similar to last year sales at $910,744. for this first Quarter.

     
    Q1
     
    2008
    2007
    Sales
    $ 1,105,274
    $ 1,284,497
    Cost of sales
    390,816
    548,658
         
    Gross Margin
    714,458
    735,839
         
    Operation expenses    
    Sales and Marketing
    400,938
    364,850
    Administrative
    217,051
    160,923
    R & D
    134,682
    132,059
    Amortization
    25,719
    23,841
    Financial
    74,847
    30,100
     
    853,237
    711,773
    Net earnings
    (138,779)
    24,066
     
    (0,007)
    (0,001)

    Clement Forget, President and CEO of Clemex Technologies declared: “First Quarter results have once more been affected by a longer sales cycle at International, where market development relies mainly on sales of our new PS3 instrument for Powders Size and Shape Characterization, a complex but promising product, which in turn requires advanced communication and education techniques and challenges. These First Quarter results are therefore affected substantially by several market development efforts which should be rewarding in the next quarters, our quotations and forecasts pipeline now growing in a sustained trend." He continued: " Working along the same avenue, we have, in this First Quarter, established excellent discussions base for a major partnership with a worldwide scientific instruments manufacturer. The excellent complementarily of some of our products with this player should allow us to solve several marketing issues for years to come. In view of these late developments, and based on the very high quality of high technology imaging solutions, we are more than ever very confident in the short and mid-term future of the Company."

    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 the globe and encompasses prestigious Universities and Research Centers in many scientific domains, large and medium size manufacturing facilities in numerous industries including automotive, aerospace, raw materials manufacturing, pharmaceuticals, mining and other sectors.