• Clemex Discloses First Quarter Results for FY 2009

    18/09/2008 12:00:00 AM

    Thursday, September 18, 2008 - Clemex Technologies Inc. (TSX Venture CXG.a), designer and manufacturer of Image Analysis systems and software for microscopy applications, announced today its quarterly results for its first quarter of FY2009 ending July 31 2008. For this first Quarter of FY 2009, sales reached $1,519,682., an increase of $414,408 or 37% over last year for the same period. The Corporation ends this Quarter with Net Earnings of $75,533 while a $138,779. loss had been posted for Q1 last year. Earnings for this Quarter were slightly affected by a non recurrent increase in administrative expenses and professional fees related to the Company value enhance process. Gross Margin for this First Quarter was 60%, down from 64% for the same period last year. During this First Quarter, the Company made important sales to strategic clients in diversified market segments such as Universities (McMaster University, Hamilton ON, University of Toronto, Toronto ON, Southwest University, El Paso TX), Metallurgical industries (OVAKO, Hillfor Sweden, Nucor Strip, Arkansas) and finally to Pharmaceutical and Life Sciences clients (PPDI, Milwaukee WI, Great Lake Brine Shrimps, Salt Lake City, Utah).

    Financial Highlights:

     
    Q1
     
    2009
    2008
    Sales
    $ 1,519,682
    $ 1,105,274
    Cost of Sales
    611,065
    390,816
    Gross Margin
    908,617
    714,458
    Operation Expenses :    
      Commercial Expenses
    390,514
    400,938
      Administrative Expenses
    242,901
    217,051
      R&D less tax credit
    144,976
    134,682
      Amortization
    19,791
    25,719
      Interest & bank charges
    31,546
    30,983
    Net foreign exchange loss
    3,356
    43,864
     
    833,085
    853,237
    Net earnings
    75,533
    (138,779)
    Net earnings per share
    (0,004)
    (0,007)

    Clement Forget, President and CEO of Clemex Technologies declared: “Q1 results for FY2009 are encouraging and are in line with the Company strategic forecasts. Our Sales efforts have allowed us to further develop our key markets such as metallurgy and pharmaceuticals.” He continued; ”Our sales performance in North America and abroad combined with the regain of the US $ let us anticipate more positive Quarters to come this year.”

    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.