Net Profit of $200,042
Montreal, QC / ACCESSWIRE / - March 18th, 2014 / Clemex Technologies Inc. (TSXV: CXG.A), designer and manufacturer of Image Analysis systems and software for microscopy applications, announces its financial results for the third Quarter of FY2014 ending January 31st, 2014. Sales reached $1,741,464, an increase of 16.5%, compared to $1,494,978 for the same period last year. This last quarter ends with a net income consolidated result of participating shares of the Corporation of $200,042 compared to a Net income attributable to participating shares of $16,180 posted last year. For the first three quarter of the Fiscal year, sales have reached $4,345,567 compared to $4,370,581 for the comparable three quarter period last year, and the net accumulated loss attributable to participating shares reaches $1,288 compared to a net income of $72,962 for the same period last year.
During this third Quarter, the Corporation made its sales mainly in North America to major clients in the manufacturing sector: Lockheed Martin, Intel Corp, Nissan Research, NASA, Hydro Aluminum, Berg Pipe Steel, Cummins and Twin Disc Corporation.
FINANCIAL HIGHLIGHTS
-------------------------------------------------------------------------------- | | Third quarter | | Nine months | |------------------------------------------------------------------------------| |Fiscal year |2014 |2013 | |2014 |2013 | |------------------------------------------------------------------------------| | | $ | $ | | $ | $ | |------------------------------------------------------------------------------| | |1,741,464 |1,494,978 | |4,345,567|4,370,581| |Sales | | | | | | |------------------------------------------------------------------------------| | | | | | | | |------------------------------------------------------------------------------| | |1,042,264 |841,939 | |2,441,134|2,383,872| |Gross Margin | | | | | | |------------------------------------------------------------------------------| | |59,8% |56,3% | |56,2% |54,5% | |Gross Margin % | | | | | | |------------------------------------------------------------------------------| | |309,172 |75,675 | |213,998 |265,458 | |EBITDA | | | | | | |------------------------------------------------------------------------------| | | | | | | | |------------------------------------------------------------------------------| |Net result attributable |200,042 |16,180 | | |72,962 | |toparticipating shares of Clemex| | | | (1,288) | | |Technologies Inc. | | | | | | |------------------------------------------------------------------------------| | | | | | | | |------------------------------------------------------------------------------| | | | | | | | |Per share (basic&diluted) | | | | | 0.002 | | |0.006 |0.001 | |(0.001) | | | | | | | | | --------------------------------------------------------------------------------
When asked to review the quarterly results Clement Forget, President and CEO of Clemex Technologies Inc. stated: "We had a good quarter and Net Profit resulting from it is very interesting. The Corporation becomes quickly profitable when sales exceed the $ 1.5 million threshold during one Quarter. The level of activity in the manufacturing sector in the United States is showing some improvements, although it is still not as strong as we have seen in the past. This current situation with the manufacturing market justifies even more our decision to diversify our product line and manufacture a line of medical instruments. He continued: "In this regard, we are still in the validation phase, and an important milestone should begin sometime this month with a local hospital. HemaCyto instruments will also be displayed in laboratories of customer sites over the coming weeks. The approval process with Health Canada is following its course; the first validation protocol is submitted, although we had to make minor modifications to some components. At this time, sales of our medical instrument will probably happen in the veterinary field as developments of medical fields depend primarily on when the company will receive the certification from Health Canada. "
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.
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Clemex Technologies Inc,
800 Guimond,
Longueuil, QC, Canada J4G 1T5,
Contact:
Clement Forget,
President and CEO
Tel: 450.651.6573
Email: [email protected]