• Clemex Announces its Financial Results for 2011

    12/08/2011 12:00:00 AM

    Montréal, Québec, August 12 2011 --- Clemex Technologies Inc. (TSXV: CXG.A) announces its financial results for Fiscal Year ending April 30th, 2011. The Corporation ends this Fiscal Year with a positive  EBITDA of $699 082 when compared to a negative EBITDA of $17 052 in 2010, et ended the year with a Net Gain after taxes of $323,090 while a Net Loss of $261,520 had been posted in 2010. Sales increased by 43.7% from $3,659,129 in 2010 to $5,259,165 in 2011.  The most significant increase came from International sales which surpassed last year sales by 83.8%. Gross margin slightly improved to 60.5% up from 59.3% last year.  

    When asked to comment these results, the President and CEO, Clement Forget declared the following: ”The upsurge of activity in the industrial and manufacturing sectors which had begun at the end of 2010 Fiscal year has continued during this past year enabling the Company to return to 2008 sales volume. This resumption in activity was accompanied by renewed vigour in production rate and profitability after two difficult years. We were able to end the year with a net profit of $323,090 despite the severe fluctuations of the Canadian dollar which also affects our profitability considering approximately 70% of our sales are concluded in US dollars.”

    Mr. Forget continued:” At about halfway into this Fiscal year, marketing activities also resumed with renewed vigour given the rise in customer demand and many opportunities in the market. The Company participated in a greater number of trade shows, and its efforts generated results. On the other hand, our research project of a medical device for Hematology applications is moving along well and we should be setting up our first functional prototype unit in a Montreal hospital this coming fall.  Finally, our distribution agreement with LEICA Microsystems which began in March 2011 has not yet added to our sales significantly but it will definitely contribute to increase our business and visibility in Canada for years to come.

     

    Financial Highlights

    Fiscal year ended

     April 30th, 2011

     April 30th, 2010

     

                                      $          

                                           $

    Sales

    5, 259,165

    3, 659,129

     

     

     

    Gross Profit

    3, 180,532

    2, 169,141

     

    60.5 %

    59.3 %

     

     

     

    Total Operating Expenses

    2, 692,178

    2, 398,628

     

     

     

     

    EBITDA

    699 082

    (17 052)

     

     

     

    Net Gain (Loss) & Comprehensive

    Income (Loss)

        323,090

    (    261,520)

     

     

     

    Basic gain (loss) Per Share

          0.016

    (   0.013)

     

    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.