• Clemex Announces its Financial Results for 2009

    25/08/2009 12:00:00 AM

    Tuesday, August 25, 2009 -

    Clemex Technologies Inc. (TSX Venture: CXG.A) announces its financial results for Fiscal year 2009 ending April 30th, 2009. The Corporation ends this Fiscal Year with a Loss before taxes of $9,599 while a $132,218 Loss before taxes had been posted in 2008. For that same period, sales dropped by 10% to $5,120,918 from $5,654,101 in 2008. The most critical sales drop came from North America with a reduction of $845,711 compared to last year, of which $658,008 came from Canada alone. This reduction in sales in North America was compensated to some extent by a good performance in Europe where sales increased by $415,253 compared to 2008. Gross Margin remained at 59%, same as last year.

    When asked to comment these yearly results, the President and CEO, Clement Forget declared the following: ”Despite the collapse of the manufacturing sector which began to affect us as early as December 2008, we managed to maintain our sales to an acceptable level by concentrating our efforts on other sectors such as the Pharmaceutical industries, Research Centers and Universities. Moreover, Management had put in place several cost reduction measures very early last fall in order to align expenses to the reducing market activities. These measures helped minimize the overall effect of the economic crisis and to end this last Fiscal Year with a minimal loss.

    Financial Highlights:

     
     
    Fiscal year ended
    April 30th, 2009
    April 30th, 2008
    Sales
    $5,120,918
    $ 5,654,101
    Cost of Sales
    2,112,455
    2,301,985
    Gross Margin
    Gross Margin %
    3,008,463
    59%
    3,352,116
    59%
    Operating Expenses    
      Sales & Marketing
    1,418,615
    1,051,909
      Financial
    129,668
    127,233
      Amortization
    99,929
    106,009
      R&D
    400,243
    472,665
      Loss (gain)on foreign exchange
    (34,578)
    80,270
      
     
     
     
    3,018,062
    3,484,334
    Profit/Loss Before Taxes
    (9,599)
    (138,779)
    Income Taxes
    90,000
    95,000
    Net Profit/Net (Loss)
    (99,959)
    (227,218)
    Earnings/(Loss) Per Share
    (0,005)
    (0,012)
    Earnings/(Loss)Per Share dilited
    (0,005)
    (0,012)
         

    Mr. Forget continued:” Over the last few weeks, several signs indicate a revival in the manufacturing sector which should translate in better sales during the second part of FY 2010. On the other hand, our recent commitment to design and produce Medical Devices will help to diversify the product line and prevent manufacturing activity fluctuations to affect us for years to come.”

    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.