• Clemex Discloses First Quarter Results

    27/09/2010 12:00:00 AM Monday, September 27, 2010 -

    Clemex Technologies Inc. (TSX Venture CXG.a), designer and manufacturer of Image Analysis systems and software for microscopy applications, announces its results for the first quarter of FY2011 ending July 31 2010.  For this first Quarter, sales reached $1,016,855, an increase of $288,224 or 39.5% compared to the same period last year. The Corporation ends this Quarter with a Net Profit of $52,816 while a Loss of $141,029 had been posted last year.  Earnings for this quarter improved, after they had strongly been affected, as markets are slowly reviving from the severe economic slowdown which affected the manufacturing sector in North America. Gross Margin for this first quarter was 62.9%, similar to 63.7% for the same period last year.

    Over the past three months, the Company made several sales to the manufacturing sector industries such as: Evraz, Regina(SA); Evraz Rocky Mountain Steel, Pueblo (CA); Brillion Iron Works, Brillion (WI); Dana Canada Corporation, Oakville (On), and Teksid Hierro of Mexico.  Important sales were also made to the pharmaceuticals sector, to Hemopharm, Serbia and Pfizer, Kalamazoo.

    FINANCIAL HIGHLIGHTS

                                                                                                First Quarter(ending July 31st)                                     

    Fiscal Year

                               2011

                               2010

                               $

                               $

    Sales

    1,016,855

    728,631

    Cost of Sales

    377,322

    264,847

    Gross Margin

    639,533

    463,784

    Operating Expenses

    Commercial Expenses

    286,128

    238,807

    Administrative Expenses

    171,264

    169,017

    R&D less Tax credits

    78,434

    83,884

    Amortization of capital assets

    30,058

    28,956

    Financial Expenses

    21,697

    22,757

    Loss (gain )on foreign currency

    (864)

    61,392

    586,717

    604,813

    Net Profit(Loss)

    52,816

    (141,029)

    Net Profit(Loss) per share

    0.003

    (0.007)

    Clement Forget, President and CEO of Clemex Technologies Inc. declared: “Results for this first quarter of FY2011 are very encouraging as we can foresee the light at the end of the tunnel with a revival of activity in our traditional sectors; the automotive and aerospace manufacturing industry. We note activity intensifies lately in our sales department as many quotes and information requests come in, the first indicator that clients are interested in purchasing new instruments. Further more, the pharmaceutical sector seems to also do better as we sold two instruments to prestigious pharmaceutical companies in the United States and in Europe “. 

    He continued, “Our order book is doing better than for the same period last year and we are confident that, unless an economic turn around occurs, the sales should continue to increase over the next few months.” 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.