• Clemex Discloses Third Quarter Results of 2015

    19/03/2015 12:00:00 AM

    Montreal, QC – March 19th, 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 third quarter ending January 31st, 2015.  Sales reached $1,741,436 compared to $1,741,464 for the same three month period last year. The net profit for this quarter is $175,901, (net profit of $175,205 attributable to shareholders of Clemex Technologies), compared to a net profit of $191,899 (net profit of $200,042 attributable to shareholders of Clemex Technologies) posted last year. After nine months, sales reached $4,770,311 compared to $4,345,567 last year. The Company has accumulated a net profit of $49,962 (net profit of  $52,324 for the shareholders of Clemex Technologies), as compared to a loss of $19,759 ( loss of $1,288 for shareholders of Clemex Technologies) for the same nine month period last year.

    FINANCIAL HIGHLIGHTS

     

              Third  quarter

     

          Nine months

    Fiscal year

    2015

    2014

     

    2015

    2014

           

             $

           $

     

          $

            $

    Sales                                                    

     1,741,436

     1,741,464

     

     4,770,311

      4,345,567

     

     

     

     

     

     

    Gross Margin

    959,735

    1,042,264

     

    2,652,091

    2,441,134

    Gross Margin %                                    

            55.1%

          59.8%

     

            55.6%

           56.2%

    Operationg Expenses

    722,334

    782,365

     

    2,486,129

    2,347,543

               

    Income Taxes

    61,500

    68,000

     

    116,000

    113,350

    Net Result 

    175,901

    191,899

     

    49,962

    (19,759)


    Net Result attribuable to Clemex Technologies Inc.   
     

        175,205    200,042      52,324      (1,288)

    Global Result per share (basic & diluted)

              0.006  

            0.006 

     

    0.002     

              (0.001) 

     

    Sales in North America have decreased this quarter when compared to sales from the same three month period last year. In Canada, sales increased by 47.7%, from $392,537 in 2014 to $579,882 in 2015, as for the United States, sales decreased by 41.8%, from $951,698 in 2014 to $554,019 in 2015. Total sales in North America reach $1,133,901 in 2015 compared to total sales of $1,344,235 last year, a decrease of 15.7%. After nine months, sales in Canada have increased by 33.2% from $850,193 in 2014 to $1,132,678 in 2015, and sales in the United States have also increased by 18.6% from $2,073,052 in 2014 to $2,458,635 in 2015. After nine months, total sales in North America have increased by 22.9%, from $2,923,245 in 2014 to $3,591,313 in 2015.

    Sales in European countries have increased by 55.6%, from $108,391 in 2014 to $168,714 in 2015, and sales in other countries abroad have also increased from $288,838 in 2014 to $438,821 in 2015, an increase of 51.9%. After nine months, sales in European countries remain lower when compared to the previous year, having decreased from $310,465 in 2014 to $254,788 in 2015, as sales in other countries are also lower when compared to the previous year  from $1 111,857 in 2014 to $924,210 in 2015. Overall, sales abroad have declined by 17.1%, from $1,422,322 in 2014 to $1,178,998 in 2015.

    Operating expenses totalled $722,334 this third quarter, down from $782,365 last year mostly due to commercial expenses being lower as fewer sales activities took place during the third quarter of the fiscal year when compared to other quarters over the fiscal year. However, the total operating expenses for the nine month period this fiscal year have risen from $2,347,543 last year to $2,486,129. This increase is related to uncommon professional fees incurred this year when compared to last.

    When asked to comment, the Interim President & CEO, Mr. Bassat declared “The management transition at Clemex is going well. The whole team is committed to the growth of the company and the development of its new projects.”

    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.