• Clemex Discloses First Quarter Results

    20/09/2013 12:00:00 AM

    Montréal (Québec), September 20 2013 – Clemex Technologies Inc. (TSXV: CXG.A), designer and manufacturer of Image Analysis systems and software for microscopy applications, announces its financial results for the first Quarter of FY2014 ending July 31st, 2013.  Sales reached $1,042,744 compared to $1,305,152 for the same period last year. The Corporation ends this quarter with a Net Loss of $267,375, and a net loss of $256,567 attributable to Clemex Technologies compared to a net loss of $44,265 posted last year.

    During this third Quarter, the Corporation made several sales to major clients in the manufacturing sector in North America: Swagelok OH and Sauer Danfost, SC. A few sales were made at international to Nitrex, Mexico and China. As far as Canada, the Corporation made an important sale in the pharmaceutical sector to Impopharma, ON and several microscopes sales to Quebec Universities and Colleges.

    FINANCIAL HIGHLIGHTS

                                                                            First Quarter                          

      Fiscal Years

                                2014

                               2013

     

             $

            $

    Sales

    1,042,744

    1,305,152

     

     

     

    Gross Margin

    522,649

    664,866

    Gross Margin %

    50,1%

    50,9%

    Total Operating Expenses

    787,674

    683,631

     

     

     

    Income Taxes

    2,350

    25,500

     

    Net Result

    (267,375)

    (44,265)

     

    Net Result attributable to Clemex Technologies Inc.

    (256,567)

    (44,265)

     

     

     

    Global Result per share

    (0.008)

    (0.001)

     

    Clement Forget, President and CEO of Clemex Technologies Inc. declared: “We are of course quite disappointed with these First Quarter results.  Traditionally Q1 is never the best Quarter for the Corporation, but this one in particular has been heavily affected by the report of several sales in time, mainly in the USA. We have mentioned several times in the past that the manufacturing sector in the USA is still not running at full capacity, and this is hurting Clemex business which relies heavily on that sector. On the positive side, our orders pipeline for Q2 shows that several orders were indeed postponed further in time.”

    Despite this short term slowdown in our traditional business, we maintain our marketing and R&D efforts in the Hematology sector. Consequently, despite the fact that this sector does not generate any income yet, it requires substantial investment of money efforts which reflects on the overall profitability of the Corporation.

    Concerning the hematology instrument project, Mr. Forget continued; “Our two instruments already in place in specialized laboratories work well and in accordance with their specifications. Thus everything looks good for the validation process which should begin very soon. The validation process is a necessary step in view of Health Canada and the FDA certification, which is mandatory prior to the commercialization of the instrument in Hospitals. We estimate that we could be able to offer the same instruments to hospitals sometime early 2014. We are however ready to market the instrument for various Veterinary applications, where no FDA certification is required, and we are already working with an important group of veterinary laboratories in the US.

    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.