• Clemex announces its Financial Results for 2007

    26/07/2007 12:00:00 AM

    Thursday, July 26, 2007 - Clemex Technologies Inc. (TSX Venture: CXG.a) announces its financial results for the year ending April 30th, 2007. The Company experienced a $713,804 decrease in sales, about 12% of its revenues, showing sales of $5,344,821 compared to $6,058,625 for FY 2006. The Company posts a slight loss of $59,246, or $0.003 per share, while it showed a Net Profit of $573,652 or $0.031 per share last year. The Gross Margin also dropped by one point from 58.6% in 2006 to 57.7% this year. However, these disappointing results mask a progression of sales in the North American market of 7%, reaching $3,986,321 this year from $3,720,170 in 2006. It was, international sales which exerted a negative effect on the results with decreased sales of close to 42%, dropping from $2,338,455 in FY2006 to $1,358,500 in this last year. In the final analysis, the Company’s performance was slowed down by the difficult launch of Clemex PS3, the Company’s latest instrument aimed a particle sizing analysis, designed and targeted for the Pharmaceutical market. Asked to comment about these results, President and CEO, Clément Forget declared: “We remain very optimistic concerning our future since Clemex is very well positioned in the markets. We offer image analysis solutions that are both high tech and user-friendly, key factors that are the envy of the competition. Unfortunately, the last year showed us that the market, as a whole, needed to be better informed and educated about the technology of Particle Sizing by microscopy. Consequently, we invested heavily in communication while working to widen and perfect our network of distribution partners. As such, we are currently negotiating with a major instruments manufacturer for the worldwide distribution of our PS3 instruments and this should confirm our product leadership and release the full growth potential of the company.” Financial Highlights

     
    Année finissant le 30 avril 2007
    Année finissant le 30 avril 2006

    Fiscal year ended

     April 30th, 2007

     April 30th, 2006

         

    Sales

    $ 5,344,821

    $ 6,058,625

    Cost of Sales

    2,258,683

    2,504,058

         

    Gross Margin

    3,086,138

    3,554,567

    Gross Margin %

    57.7%

    58.6%

         

    Operating Expenses

       

    Sales & Marketing

    1,595,435

    1,492,831

    Administration

    809,220

    692,132

    R&D

    363,147

    249,166

    Financial

    140,120

    207,363

    Amortization

       108,962

       101,157

     

    3,016,884

    2,742,649

         

    Profit/Loss Before Taxes

    69,254

    811,918

         

    Income Taxes

    128,500

    238,228

         

    Net Profit/Net (Loss)

    (59,246)

    573,690

         

    Earnings/(Loss) Per Share

    (0.003)

    0.031

    Earnings/(Loss)Per Share diluted

    (0.003)

    0.029

         

    The Company also announces that Lisanne Dostie LL.B. was appointed Chair of the Board of Directors. Lisane Dostie has over fifteen years experience as a lawyer and officer in public companies building legal & corporate departments. As General Counsel and Corporate Secretary, she led the legal team, drafted and implemented corporate governance guidelines, participated in several financing rounds, and assumed responsibility for operating budgets. She also managed public relations & corporate publications and was involved in human resources. Miss Dostie was General Counsel and Corporate Secretary at Labopharm (TSX - NASDAQ) for more than 8 years. She was also the lead expert in Hay Group’s Governance and Board Effectiveness practice in Montréal. She worked as an officer with telecom companies. As a volunteer, she has worked on several committees with the Canadian Red Cross / Québec Division and chaired the Board of Directors at La Maison Grise de Montréal for several years. Mrs. Dostie is presently recruiter at Fitzwilliam Legal Recruitment, an executive search firm dedicated to the legal profession in Canada.

    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.