• Clemex Discloses FY 2009Third Quarter Results

    24/03/2009 12:00:00 AM Tuesday, March 24, 2009 - Clemex Technologies Inc. (TSX Venture CXG.a), designer and manufacturer of Image Analysis systems and software for microscopy applications, announced today its quarterly results for its third quarter of FY2009 ending January 31 2009. For this third Quarter of FY 2009, sales reached $1,294,858, a decrease of $439 040 or 25% over last year for the same period. For this same Quarter, he Corporation posts a slight Profit of $7 262 compared to a Net Profit of $100 89 for Q3 last year.

    The gross margin remains stable at 59% through this fiscal year. The volatile market of Foreign currencies against the Canadian dollar slightly affected results for this past quarter, however, the upswing of the US dollar since the beginning of this fiscal year contributed to an overall foreign exchange gain of $30 190 in comparison to a loss of $ 87 756 for the same nine month period last year. During this Quarter, the Company has engaged into several cost reduction initiatives in order to minimize the effects of the severe sales slowdown in the manufacturing sector allowing a small net Profit to be posted.

    During this third Quarter, the Company sold two of its Research type PSA300 Particle Size Analyzers to large pharmaceutical groups in the USA and Europe, and two production type PSA300 to its partner in the USA, Horiba Instruments Inc. The company also managed to sell six of its CMT (Computerized MicroHardness Testers), instruments used primarily for the quality control of metal machined parts, all six outside North America.

    Financial Highlights:

     
    Third Quarter

    9 Months

     
    2009
    2008
    2009
    2008
    Sales
    $ 1 294 858
    $ 1 733 898
    $ 4 080 458
    $ 4 341 575
    Cost of Sales
    552 270
    745 035
    1 666 577
    1 737 927
    Gross Margin
    742 588
    988 863
    2 413 881
    2 603 648
    Operation Expenses :
      Sales and Marketing
    339 756
    412 179
    1 132 165
    1 230 795
      Administration
    202 509
    306 919
    815 768
    812 030
      R&D
    112 817
    128 685
    398 773
      Amortization
    25 954
    26 769
    42 288
    46 069
      Financial
    30 966
    36 403
    76 787
    108 536
    Net foreign exchange loss (gain)
    23 324
    (22 921)
    (30 190)
    87 756
     
    735 326

    888 034
    2 441 869
    2 708 136
    Net gain (loss)
    7 262
    100 829
    (27 988)
    (104 488)
             
             
    Net gain (loss) per share
    0.005
    (0.001)
    (0.006)
             

    Clement Forget, President and CEO of Clemex Technologies declared: “With more than 50% of our sales in the US, we have been strongly affected by the slowdown in the manufacturing sector. However, thanks to the high quality of our products, we still manage to sell equipment to industries that produce high- tech materials and to research organizations, worldwide.” He continued; “In these tough economic times, it is a delicate task to try to maintain balance between the obligation to reduce expenses on a short term basis and the need to retain qualified personnel, essential to build a long term future for the Company. Expenses have been reduced drastically at all levels of the Company since the beginning of this last quarter, while maintaining our R&D and marketing activities.”

    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.