• Clemex Discloses Third Quarter Results of 2016

    29/03/2016 12:00:00 AM

    Montreal, QC – March 29th, 2016-- 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 of fiscal year 2016, ending January 31st, 2016. Sales reached $1,673,899 compared to $1,741,436 for the same three month period last year. The Company ended this third quarter with a net profit of $93,762, (net profit of $91,306 attributable to shareholders of Clemex Technologies), compared to a net profit of $175,901 (profit of $175,205 attributable to shareholders of Clemex Technologies) posted last year. After nine months, sales reached $4,474,953 compared to $4,770,311 last year. The Company has accumulated a net profit of $121,327 (profit of $121,221 for the shareholders of Clemex Technologies), as compared to a net profit of $49,962 (net profit of $52,324 for shareholders of Clemex Technologies) for the same nine month period last year.

    FINANCIAL HIGHLIGHTS

    During this third quarter, several important sales were made to major clients in the manufacturing sector in North America, and particularly in the United States, in Ohio, Illinois, Pennsylvania, Oklahoma, Texas and Michigan. As for sales abroad, important sales were made in India, Turkey, Mexico and South Korea. In Canada, a few important sales in Ontario and Saskatchewan, although total sales remain lower for this third consecutive quarter this fiscal year.

     

              Third  quarter

     

          Nine months

    Fiscal year

    2016

    2015

     

    2016

    2015

           

             $

           $

     

          $

            $

    Sales                                                    

     1,673,899

     1,741,436

     

     4,474,953

      4,770,311

     

     

     

     

     

     

    Gross Margin

    900,506

    959,735

     

    2, 600,345

    2, 652,091

    Gross Margin %                                    

            53.8%

          55.1%

     

            58.1%

           55.6%

    Operationg Expenses

    738,744

    722,334

     

    2,331,518

    2,486,129

               

    Income Taxes

    68,000

    61,500

     

    147,500

    116,000

    Net Result 

    93,762

    175,901

     

    121,327

    49,962


    Net Result attributable to Clemex Technologies Inc.   
     

        91,306    175,205      121,221      52,324

    Global Result per share (basic & diluted)

             0.003  

            0.006 

     

    0.004     

             0.002 

     

    Yves Bassat, President and CEO declared: "The purchase of hardware components invoiced in Euro has slightly affected our gross margin during this period. This negative difference was not balanced by the gains of our transactions in US Dollars. Comparative year to year, our gross margin remains higher and healthy, in spite of slightly lower revenues and high operation costs due to the recruitment of new talents."

    "Our sales objectives are all completed with obvious shifts from one period to another. For the months to come the outlook remains favorable and sound with the company pursuing its transformation."

    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.