• Clemex Discloses Second Quarter Results

    13/12/2011 12:00:00 AM

    Montreal, QC – December 13th, 2011 – Clemex Technologies Inc. (TSXV: CXG.A), announces its results for this second quarter of FY2012 ending October 31st, 2011.  For this second quarter, sales reached $1,414,314 an increase of $269,408 or 23.5% compared to the same period last year. The Corporation ends this quarter with a Net Profit of $12,004 compared to a Net Profit of $25,586 posted last year.  After 6 months, the Company has accumulated a net loss of $34,243 compared to a Net Profit of $76,618 last year.

    During this last Quarter, the Company’s Microhardness testers continued to enjoy great success as 6 systems were sold in the last three months in the United States to; IBC Materials (IN), Eaton Corp (MI), Linamar (CA), Toyota Racing Team (CA) and two other systems in Ohio.  Other important sales for this quarter include PSFilter systems which were sold to Filtration Technologies in Texas, USA, and to Hydraforce in China, a third Clemex systems for this client.

    FINANCIAL HIGHLIGHTS
                                                    Quarter                         Semester

     

    Fiscal Years

    2012

    2011

    2012

    2011

     

    $

    $

    $

    $

    Sales

    1,414,314

    1,144,906

    2,655,142

    2,161,761

     

     

     

     

     

    Gross Margin

    761,339

    692,384

    1,429,510

    1,320,496

    Gross Margin %

    53.8%

    60.5%

    53.8%

    61.1%

    Total Operating Expenses

    712,335

    631,798

    1,398,753

    1,175,878

     

     

     

     

     

    Income Taxes

    37,000

    35,000

    65,000

    68,000

     

     

     

     

     

    Net Profit(Loss)

    12,004

    25,586

    (34,243)

    76,618

     

     

     

     

     

    Net Profit(Loss) per share

    0.001

    0.001

    (0.002)

    0.004

    (1)Figures for 2011 have been restated to conform to IFRS.


    Clement Forget, President and CEO of Clemex Technologies Inc. declared: “Our sales for this quarter are substantially higher than they were for the same period last year, in accordance with the increase of activity in the manufacturing sector, and more precisely the automobile industry. We are particularly pleased of the enthusiastic interest for our Microhardness tester in the United States. Sales for other systems such as PSFilter are also on the rise and our order book is well ahead as compared to the same date last year.

    He continued “Our operating expenses are also on the rise this year and is mostly related to the increase in marketing and commercial expenses of $ 46,000 when compared to last year. The distribution activities for LEICA products are slower than we had anticipated even if it keeps progressing every month.”

    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.