• Clemex Discloses Second Quarter Results of 2016

    18/12/2015 12:00:00 AM

    Montreal, QC – December 18th, 2015-- 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 fiscal year 2016, ending October 31st, 2015. Sales reached $1,396,879 compared to $1,460,836 for the same three month period last year. For this second quarter, the Company ended this with a net profit of $26,586, (net profit of $21,338 attributable to shareholders of Clemex Technologies), compared to a net loss of $91,024 (loss of $88,716 attributable to shareholders of Clemex Technologies) posted last year. After six months, sales reached $2,801,054 compared to $3,028,875 last year. The Company has accumulated a net profit of $27,564 (profit of $24,666 for the shareholders of Clemex Technologies), as compared to a loss of $125,939 ( loss of $122,881 for shareholders of Clemex Technologies) for the same six month period last year.

    FINANCIAL HIGHLIGHTS

    During this second quarter, several important sales were made to major clients in the manufacturing sector in North America, and mostly in the United States, in Ohio, Indiana, Maryland, New York and South Dakota. As for sales abroad, a few important sales were made in India, Turkey, Mexico and France. In Canada, sales have been less important for the second consecutive quarter this fiscal year

     

              Second  quarter

     

          Six months

    Fiscal year

    2016

    2015

     

    2016

    2015

           

             $

           $

     

          $

            $

    Sales                                                    

     1, 396,879

     1, 460,836

     

     2, 801,054

     3, 028,875

     

     

     

     

     

     

    Gross Margin

    885,111

    869, 016

     

    1, 699,838

    1, 692,356

    Gross Margin %                                    

           63,4%

          59.5%

     

            60.7%

           55.9%

    Operationg Expenses

    821,025

    935,040

     

    1, 592,774

    1, 763,795

               

    Income Taxes

    37,500

    25,000

     

    79,500

    54,500

    Net Result 

    26,586

    (91,024)

     

    27,564

    (125,939)


    Net Result attribuable to Clemex Technologies Inc.   
     

        21,338    (88,716)      24,666      (122,881)

    Global Result per share (basic & diluted)

              0.001  

            (0.003) 

     

    0.001     

              (0.004) 

     

    Yves Bassat, President and CEO declared: "In this quarter, we can highlight; the firmness of sales in the United States, an actual improvement in Europe, although modest and a significant slowdown in Canada, however, without being alarming. Total gross margin is mainly maintained thanks to the favorable impact of currency CAD / USD. The operating expenses have decreased even considering the higher investments in R & D, which have become essential and affect the results. "

    He added: "At the commercial level, Clemex enters the final phase of its recruiting of a sales representative who will be based in Ulm, Germany, and has also hired a new sales representative based at headquarters in Longueuil, which will support sales efforts in North America."

    Nomination of a new board member

    The Company also announces the arrival of Mr. Louis-François Hogue as a director within its board of directors. Mr. Hogue was admitted to the Quebec bar in 1989, and practiced with a major firm of attorneys for some years, working in mergers & acquisitions and corporate finance. He specialized in life sciences, information and entertainment companies before becoming Director of Corporate Services at the Montreal Exchange in 1998, where he was responsible for all activities pertaining to listing and market regulations. During his time at the Montreal Exchange, Hogue and his team were instrumental in the adoption by the Canadian stock markets of new listing requirements allowing emerging companies from the technologies and biotech sectors obtain listing of their stock on the Canadian stock exchanges. He lead the negotiations of a mutual recognition agreements between the Montreal, Nasdaq and London stock exchanges junior market (AIM) in order to facilitate listing across several platforms for companies registered with their stock exchanges. Under his direction, the Montreal Exchange, in conjunction with the Toronto Stock Exchange, also created a set of corporate governance guidelines for public listing companies that are still in use in the Canadian market. Then, Hogue was nominated Vice-President, Strategic Affairs for Æterna Zentaris, a biopharmaceutical company specialized in the development of innovative treatments in oncology and endocrinology. Afterwards, he served a senior partner for 15 years with the legal firm Fasken Martineau DuMoulin, a global law firm with offices in Canada, England, France and South Africa. Over the years, Hogue took on a number of different roles as he was leading the firm Global life sciences sector and was acting as Canadian Partner in charge of the London office. In 2012, he founded Eastman Capital Fund, investing in start-ups entities and managing wealth for a prominent Québec Family.

    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’ customer base spans over many countries in America, Europe, Asia and encompasses major Research and Development Centers, prestigious Universities and large manufacturing industries in various fields including  healthcare, automotive, aerospace, raw materials manufacturing, pharmaceuticals, mining and other sectors.

    Caution Concerning Forward-Looking Statements
    This press release contains forward-looking statements that are based on certain assumptions. The forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. The Company cautions investors not to place undue reliance on forward-looking statements. Additional factors are discussed in materials filed with the Securities regulatory authorities in Canada. 

    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.