• Clemex Discloses Second Quarter Results for FY 2008

    12/12/2007 12:00:00 AM

    The Company begins its third quarter with well garnished order book

    Wednesday, December 12, 2007 - Clemex Technologies Inc. (TSX Venture CXG.a), designer and manufacturer of Image Analysis systems and software for microscopy applications, announced today its FY 2008 second quarter results ending October 31 2007. For this second Quarter of FY 2008, sales reached $1,502,403, which is $104, 053 more than last year sales of $1,398,350 for the same period. The Corporation ends this Quarter with a Net loss of $66,538 compared to a profit of $40,174 for the same period last year. This quarter’s deficit is due to the substantial appreciation of the Canadian dollar which resulted in a net foreign exchange loss of $65,935. Gross Margin remained the same at 59.9% while it was 59.4% last year.

    The severe US dollar depreciation of 11% since last year have further reduced the total sales revenues by nearly $100,000 since sales in US dollars accounted for over $950,000 this past quarter. The Corporation has increased its prices by 5% three months ago and anticipates a further price increase in January in order to adjust one again with the recent Canadian dollar reality.

    Financial Highlights:

     
    Second Quarter
     
    2008
    2007
    Sales
    $ 1 502 403
    $ 1 398 350
    Cost of Sales
    629 668
    566 534
    Gross Margin
    900 127
    831.816
    Operation Expenses :
     
     
      Sales and Marketing
    418 440
    412 715
      Administration
    288 060
    191 645
      R&D
    135 404
    122 302
      Amortization
    25 719
    18 547
      Interest and ank charges
    33 107
    30 609
     
    65 935  
    15 824
    Net earnings
    966 665
    791 642
         
    Net earnings per share
    (66 638)
    40 174
     
    (0.004)
    0.002

    Clement Forget, President and CEO of Clemex Technologies declared: "Results for this Second Quarter are actually positive and reflect the order book’s increase with regards to all the efforts of previous months. Moreover the order book will get even better once sales for our new partner, Horiba Instruments Inc, begin to flow in these upcoming quarters. Had it not been of the sudden increase of the Canadian dollar value and exceptional expenses encountered for the Annual General Meeting, the final results could have been close to $100,000 profit for this quarter."  

    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.