Clemex Discloses Second Quarter Results for FY 2011
15 December 2010 - 4:34AM
PR Newswire (Canada)
MONTREAL, Dec. 14 /CNW/ -- After 6 months, the Company declares a
profit of $83,074, a net turnaround of $173,231 when compared to
the previous fiscal year Symbol: CXG.A-TSXV www.clemex.com
Shares Outstanding: 20 749 810 MONTREAL, Dec. 14 /CNW
Telbec/ - Clemex Technologies Inc. (TSX Venture CXG.a), designer
and manufacturer of Image Analysis systems and software for
microscopy applications, announces today its quarterly results for
the second quarter of FY2011 ending October 31(th), 2010. For this
second Quarter, sales reached $1,144,906 an increase of $119,847 or
11.6% when compared to the same period last year. For this last
Quarter, the Corporation posts a Net Profit of $30,258 compared to
a Net Profit of $50,871 for Q2 last year. Gross Margin is at 61.5%
for this quarter, slightly higher than for the same period last
year at 59.6%. The Company was able to maintain a good
profitability in spite of the significant increase in commercial
expenses intended to sustain the development of business in some
profitable market sectors. For the first six months of this fiscal
year, commercial expenses have raised by approximately $80,000 as
the Company attended several commercial trade shows. Clemex
continues to be very active in Research and Development in view of
the development and marketing of the new and innovative hematology
instrument. Furthermore, the NRC-IRAP grant for the Hematology
instrument development project to cover salary expenses ended
during this Quarter. FINANCIAL HIGHLIGHTS Second Quarter Six Months
Fiscal Year 2011 2010 2011 2010 $ $ $ $ Sales 1,144,906 1,025,059
2,161,761 1,753,690 Cost of Sales 441,101 414,153 818, 423 679,000
Gross Margin 703,805 610,906 1,343,338 1,074,690 61.5% 59.6% 62.1%
61.3% Operating Expenses Commercial Expenses 288,740 256,276
574,868 495,083 Administrative 203,544 177,064 374,808 346,081
Expenses R&D less Tax credits 120,375 68,907 198,809 152,791
Amortization 30,058 29,244 60,116 58,200 Financial Expenses 21,471
18,284 43,169 41,285 Net foreign exchange 9,359 10,260 8,494 71,407
loss (gain) 673,547 560,035 1,260,264 1,164,847 Net Profit / Loss
30,258 50,871 83,074 (90,157) Net Profit / Loss per 0.001 0.002
0.004 (0.004) share Over the last three months, the Company made
several sales to strategic clients in the manufacturing sector in
North America and abroad. Several sales were for the Clemex CMT.hd,
an automated MicroHardness tester widely used in the Automotive and
other manufacturing sector. North American clients in this past
Quarter were Interstate McBee, (OH); Amsted rail (VA); Fleet
Readiness Center East, (NC); Fisher Barton Specialty
Products, (WI) and to Flight Systems Electronics Group, (PA).
On the International side, the Company made important sales to
Magna Powertrain in Mexico, DeHua Testing (China) and has also sold
two Inclusions Rating Systems for the quantification of cleanliness
in steel to POSCO in Korea. Clement Forget, President and CEO of
Clemex Technologies Inc. declared: "We continue to benefit from the
slow recovery of activity in the US manufacturing sector, mainly
from the automotive industry. Sales to this sector over this past
Quarter came mostly from our CMT.hd, an Automatic MicroHardness
tester, widely used for testing heat treated parts in the
automotive manufacturing. On the International side, sales
were made to the Steelmakers in Korea and China, countries where
revival of activity in the steelmaking industries seems to be well
on its way." He continued; "A certain revival of market is now
discernible and will contribute to the increase in sales of our
traditional market sectors. Furthermore, our growth perspectives
have never been better on short and longer term. The new exclusive
Canadian distribution agreement with Leica Microsystems beginning
in March 2011 will be very positive on our sales growth. We
anticipate sales increase for both short and long terms to
come." 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' 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 TSX Venture has not
reviewed and does not accept responsibility for the adequacy and
accuracy of this news release. To view this news release in HTML
formatting, please use the following URL:
http://www.cnw.ca/en/releases/archive/December2010/14/c5075.html
pClément Forgetbr/ Tel: 450.651.6573br/ Email: a
href="mailto:ir@clemex.com"ir@clemex.com/a/p
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