• Clemex Discloses Second Quarter Results

    17/12/2013 12:00:00 AM

    Montréal (Québec), December 10th 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 second Quarter of FY2014 ending October 31st, 2013.  Sales reached $1,561,359 compared to $1,570,451 for the same period last year. The Corporation ends this quarter with a Net Profit of $55,716, and a Net Profit of $55,237 attributable to Clemex Technologies Inc. compared to a Net Profit of $101,047 posted last year. At mid-Fiscal year, the Corporation has accumulated a Net Loss of $211,658, and a Net Loss of $201,330 attributable to Clemex Technologies Inc., compared to a Net Profit of $56,782 for the same period last year.

    During this second Quarter, the Corporation made its sales mainly on the International market to major clients in the manufacturing sector: PT Seamless Pipes, Indonesia, Dongkuk Steel Mills, South Korea, Alfagomma, Italy, Fairfield Atlas, India and Empresa Nacional de Energia, Chili. The Corporation has also made sales in the US to Cummins, Seymour, IN, Dunkirk Specialty Steels, Bridgeville, PA and Eaton Corporation, Cleveland,OH.  

    Financial Highlights

     

              Second quarter

     

          Semester

    Fiscal year

    2014

    2013

     

    2014

    2013

           

             $

           $

     

          $

            $

    Sales

    1,561,359

    1,570,451

     

    2,604,103

    2,875,603

     

     

     

     

     

     

    Gross Margin

    876,221

    877,067

     

    1,398,870

    1,541,933

    Gross Margin %

    56,1%

    55,8%

     

    53,7%

    53,6%

    Total operating expenses

    777,505

    728,520

     

    1,565,178

    1,412,151

     

    Income taxes

    43,000

    47,500

     

    45,350

    73,000

    Net Result

    55,716

    101,047

     

         (211,658)

    56,782

               

    Net result attributable to Clemex

    Technologies Inc.

    55,237

    101,047

     

    (201,330)

    56,782

     

     

     

     

     

     

    Global result per share (basic & diluted)

              0.002   

            0.003   

     

          (0.006)  

            0.002    


    Clement Forget, President and CEO of Clemex Technologies Inc. stated: “Despite a catch-up in our traditional activities at International, our sales still suffer from the uncertainty in the manufacturing sector, more specifically with capital investment in the US, traditionally the most important market for Clemex. Unfortunately, our order book does not reflect short term increase in sales activity in the manufacturing sector abroad nor in North America.

    On a more positive side, we are eager to launch our first sales of the Hematology instruments before the end of this current fiscal year. These sales will undoubtedly reinforce our sales performance to hopefully end our fiscal year on a positive note as for sales and profitability.

    Mr. Forget continued “Concerning the hematology instrument project; we have been very active with medical instruments exhibitions (AACC Houston, TX) and private demos of our new instruments to major customers and we are convinced that these will result in business opportunities in the short term. As for the 13485 ISO certification, mandatory to obtain Canada Health and FDA approval, we are on time with our implementation plan and should complete the process by mid-January 2014.”   

    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.