Clemex Discloses Third Quarter Results
20 March 2012 - 8:31PM
PR Newswire (Canada)
11.7% increase in sales Symbol: CXG.A-CDNX www.clemex.com
Shares Outstanding: 23,999,810 MONTREAL, March 20, 2012 /CNW
Telbec/ - Clemex Technologies Inc. , announces its results for its
Q3 of FY2012 ending January 31(st), 2012. For this third quarter,
sales reached $1,6M, an increase of $177,222 or 11.7% compared to
the same period last year. After nine months, sales reached $4,3M,
an increase of 18.3% when compared to last year. The Corporation
ends this quarter with a net profit of $66,341 compared to a net
profit of $93,333 posted last year. Year to date profit after 9
months, the Company has accumulated a net profit of $32,098
compared to a net profit of $169,951 last year. During this third
Quarter, the Company's sales increase continued with regards to the
MicroHardness testers with sales to 5 major clients in North
America: Group O (Illinois), Berg Group (Florida), Delphi
(Michigan), Black Cat Blades (Alberta), and Ecole Polytechnique
(Montreal). The Company also sold images analysis systems to 2
major clients in the United States, Bombardier Recreation Products
(Wisconsin) and Universal Stainless (Pennsylvania). Other sales to
the pharmaceutical industry include sales of a PS Filter to Merck
Sharp and Dohme in New Jersey and to West Pharmaceutical in
Pennsylvania. Finally, other image analysis systems and two
MicroHardness testers were sold in India during this third Quarter.
FINANCIAL HIGHLIGHTS Quarter Nine months Fiscal Years 2012 2011(1)
2012 2011(1) $ $ $ $ Sales 1,634,138 1,463,916 4,289,280 3,625,676
Gross Margin 904,295 848,878 2,333,805 2,169,374 Gross Margin %
55.3% 58.0% 54.4% 59.8% Total Operating 795,454 697,545 2,194,207
1,871,423 Expenses Income Taxes 42,500 58,000 107,500 128,000 Net
Profit 66,341 93,333 32,098 169,951 Net Profit per 0.003 0.004
0.001 0.008 share ((1)) Figures for 2011 have been restated to
conform to IFRS. Clement Forget, President and CEO of Clemex
Technologies Inc. declared: "The industrial sector continues to
improve in the United States, and this reflects in increased sales
for that geographical sector. Our profitability has been affected
this third quarter by the increase in our operations costs. We have
sustainably continued our efforts of commercial development and
R&D activities of our Hematology instrument while investments
have also been carried out for the development of a new corporate
Web site. These initiatives will contribute to structure and
promote the future developments of the Company. As far as for the
development of the new instrument for Hematology, we have recently
made important progress and we are close to complete a working
prototype." He continued; "Even if carrying out this project has
taken longer than anticipated, we are very satisfied by the work
achieved. We have overcome important technological milestones which
encourages us for the next step of the project. We expect to test
our first units this spring and reach a commercial deployment later
this fall". The Clemex Hematology instrument will allow the
automated blood smears analysis relying of the well proven and very
sophisticated image analysis system. 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. CLEMEX TECHNOLOGIES INC.
CONTACT: CLEMEX TECHNOLOGIES INC, 800 Guimond,Longueuil, QC, Canada
J4G 1T5,Contact:Clement Forget,President and CEOTel:
450.651.6573Email: ir@clemex.com
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