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Substantial increase in sales in this first Quarter
Montreal, QC / ACCESSWIRE / September 23, 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 first Quarter of FY2015 ending July 31st, 2014. Sales reached $1,568,039 compared to $1,042,744 for the same period last year. The increase in sales combined with a higher gross margin of 52.5% for this first quarter allows the Corporation to end the quarter with a Net Loss of $34,915, ($34,165 attributable to Clemex), compared to a net loss of $267,375 ($256,567 attributable to Clemex) posted last year.
During this third Quarter, the Corporation made several sales to major clients in the manufacturing sector in North America such as: Carestream, MN, Sensata Technologies, MA, Evraz Rocky, CO, and Gerdau, AR. As for sales abroad, sales were made in India to Goodrich Aerospace and to Syngene Intl. In Canada, the Corporation made a few important sales, of which one to SGS Canada, ON and some microscopes were sold to the education sector in the Province of Quebec.
FINANCIAL HIGHLIGHTS
First Quarter
------------------------------------------------------------------------------ | | | | | | | Fiscal Years | 2015 | 2014 | | | |----------------------------------------------------------------------------| | | $ | $ | | | | | | | | | | | | | | | | | | | | | |----------------------------------------------------------------------------| |Sales |1, 568,039 |1, 042,744 | | | |----------------------------------------------------------------------------| | | | | | | |----------------------------------------------------------------------------| |Gross Margin |823, 340 |520, 095 | | | |----------------------------------------------------------------------------| |Gross Margin % |52,5% |50,1% | | | |----------------------------------------------------------------------------| |Total Operating Expenses |797, 393 |809, 493 | | | |----------------------------------------------------------------------------| | | | | | | |----------------------------------------------------------------------------| |Income Taxes |29 500 |2 350 | | | |----------------------------------------------------------------------------| | |(34 915) |(267 375) | | | |Net Result | | | | | |----------------------------------------------------------------------------| | |(34 165) |(256 567) | | | |Net Result attributable to| | | | | |Clemex Technologies Inc. | | | | | |----------------------------------------------------------------------------| | | | | | | |----------------------------------------------------------------------------| |Global Result per share |(0,001) |(0,008) | | | ------------------------------------------------------------------------------
(basic and diluted)
Clement Forget, President and CEO of Clemex Technologies Inc. declared: "We are quite pleased with our sales in this Quarter. While Q1 is traditionally the slowest in sales activity of all four Quarters for the company, and despite a slight drop in sales in Canada, North America sales rose by more than 80% this year reaching $1,220,619 while they were $668,948 for the same Quarter last year. We sincerely hope that this long waited regain in manufacturing activity in the US is here to stay and that the sector continues to grow since sales in all other countries outside North America remained nearly stable at $347,420 compared to $373,796 for this First Quarter."
With regard to the undergoing project of development of our hematology instruments, Mr. Forget continued: "this project continues to be demanding in terms of resources, as the team is finalising the ISO accreditations and validation procedures prior to our submission to Health Canada. The Company is following its business and marketing plan set forward for the business development in the biomedical field, which includes commercial work. For that purpose and for the third consecutive year, the Company participated again this summer in two major Trade Shows in North America for the biomedical community."
Notice to shareholders under By-Law no. 4
The Company would like to inform its shareholders that it has recently received, according to the provisions of By-Law no. 4 adopted by the Company on August 20th, a shareholder's notice to the effect that he will be presenting 5 Board members (but excluding the CEO, Clement Forget and the Chairman Lisane Dostie, independent member) to be elected at the General Annual Meeting on October 28th, 2014. The Company notes that 3 of the 5 members presented by that shareholder are current Board members of the Company which will also be presented in the Management Information and Proxy Circular to be mailed in the next few days.
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]
SOURCE: Clemex Technologies Inc.