Clemex Discloses First Quarter Results - Increase sales by nearly 40%
28 September 2010 - 7:11AM
PR Newswire (Canada)
MONTREAL, Sept. 27 /CNW/ -- Symbol: CXG.A-CDNX www.clemex.com
Shares Outstanding: 20,749,810 MONTREAL, Sept. 27 /CNW Telbec/ -
Clemex Technologies Inc. (TSX Venture CXG.a), designer and
manufacturer of Image Analysis systems and software for microscopy
applications, announces its results for the first quarter of FY2011
ending July 31 2010. For this first Quarter, sales reached
$1,016,855, an increase of $288,224 or 39.5% compared to the same
period last year. The Corporation ends this Quarter with a Net
Profit of $52,816 while a Loss of $141,029 had been posted last
year. Earnings for this quarter improved, after they had strongly
been affected, as markets are slowly reviving from the severe
economic slowdown which affected the manufacturing sector in North
America. Gross Margin for this first quarter was 62.9%, similar to
63.7% for the same period last year. Over the past three months,
the Company made several sales to the manufacturing sector
industries such as: Evraz, Regina(SA); Evraz Rocky Mountain Steel,
Pueblo (CA); Brillion Iron Works, Brillion (WI); Dana Canada
Corporation, Oakville (On), and Teksid Hierro of Mexico. Important
sales were also made to the pharmaceuticals sector, to Hemopharm,
Serbia and Pfizer, Kalamazoo. FINANCIAL HIGHLIGHTS First Quarter
(ending July 31st)
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Fiscal Year 2011 2010
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$ $ Sales 1,016,855 728,631 Cost of Sales 377,322 264,847
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Gross Margin 639,533 463,784 Operating Expenses Commercial Expenses
286,128 238,807 Administrative Expenses 171,264 169,017 R&D
less Tax credits 78,434 83,884 Amortization of capital assets
30,058 28,956 Financial Expenses 21,697 22,757 Loss (gain )on
foreign currency (864) 61,392
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586,717 604,813 Net Profit(Loss) 52,816 (141,029) Net Profit(Loss)
per share 0.003 (0.007) Clement Forget, President and CEO of Clemex
Technologies Inc. declared: "Results for this first quarter of
FY2011 are very encouraging as we can foresee the light at the end
of the tunnel with a revival of activity in our traditional
sectors; the automotive and aerospace manufacturing industry. We
note activity intensifies lately in our sales department as many
quotes and information requests come in, the first indicator that
clients are interested in purchasing new instruments. Further more,
the pharmaceutical sector seems to also do better as we sold two
instruments to prestigious pharmaceutical companies in the United
States and in Europe". He continued, "Our order book is doing
better than for the same period last year and we are confident
that, unless an economic turn around occurs, the sales should
continue to increase over the next few months." 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 over many countries in America, Europe, Asia and
encompasses major Research and Development Centers, prestigious
Universities and large manufacturing industries in various fields
including healthcare, automotive, aerospace, raw materials
manufacturing, pharmaceuticals, mining and other sectors. The CDNX
has not reviewed and does not accept responsibility for the
adequacy and accuracy of this press release. Clément Forget,
President and CEO, Tel: 450.651.6573, Email: ir@clemex.com
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