• Clemex Discloses Third Quarter Results for FY 2008

    28/03/2008 12:00:00 AM Friday, March 28, 2008 - Clemex Technologies Inc. (TSX Venture CXG.a), designer and manufacturer of Image Analysis systems and software for microscopy applications, announced today its FY 2008 third quarter results ending January 31 2008. For this third Quarter of FY 2008, sales reached $1,733,898, that is $269,906 more than last year sales of $1,463,992 for the same period. The Corporation ends this Quarter with Net Earnings of $100,829 compared to net earnings of $79,159 for the same period last year. Net Earnings for this Quarter were affected by a non recurrent increase in administrative expenses and professional fees that took place near the end of the Q2. Gross Margin remained stable at 57%, same as last year.

    Financial Highlights:

     
    Q3

    9 Months

    Fiscal Year
    2007
    2006
    2007
    2006
     

    $

    $

    $

    $

    Sales

    1 733 898

    1 463 992

    4 341 575

    4 146 840

    Cost of Sales

    745 035

    631 203

    1 737 927

    1 748 590

    Gross Margin

    988 863

    832 789

    2 603 648

    2 398 250

             

    Operating Expenses

           

    Sales and Marketing

    412 179

    400 281

    1 230 795

    1 172 530

    Administrative Expenses

    306 919

    207 469

    812 030

    559 681

    R&D less Tax credits

    128 685

    120 097

    398 773

    374 460

    Amortization

    26 769

    27 566

    78 208

    69 953

    Interest & Bank charges

    36 403

    33 348

    100 574

    91 532

    Net foreign exchange loss

    (22 921)

    (35 131)

    87 756

    (13 336)

     

    888 034

    753 630

    2 708 136

    2 254 850

     

           
    Net earnings

    100 829

    79 159

    143 400

    143 400

    Net earnings per share

    0.008

    0.004

    0.008

    0.008

    Clement Forget, President and CEO of Clemex Technologies declared: “Q3 results are encouraging considering the economic slowdown that begins to take place in US. The US dollar value has stabilized in this Quarter but the Company posts a Year to Date foreign exchange loss of $87,756. Fortunately, several sales for this Quarter came from Canada and other countries abroad. Sales were made to GE Canada, Alcan, National Defence, Teck Cominco and to GM in India. We have also delivered our first PSA300 to our new distributor and partner Horiba Instruments in Irvine California, while a second one has been delivered in March.” He continued, “For Q4, we expect to get substantial orders from steelmakers in following a successful seminar held in Sweden in February.” 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.