Montreal, QC - December 10th, 2013-- Clemex Technologies Inc. (TSXV: CXG.A), designer and manufacturer of Image Analysis systems and software for microscopy applications, announces its financial results for the second Quarter of FY2014 ending October 31st, 2013. Sales reached $1,561,359 compared to $1,570,451 for the same period last year. The Corporation ends this quarter with a Net Profit of $55,716, and a Net Profit of $55,237 attributable to Clemex Technologies Inc. compared to a Net Profit of $101,047 posted last year. At mid-Fiscal year, the Corporation has accumulated a Net Loss of $211,658, and a Net Loss of $201,330 attributable to Clemex Technologies Inc., compared to a Net Profit of $56,782 for the same period last year.
During this second Quarter, the Corporation made its sales mainly on the International market to major clients in the manufacturing sector: PT Seamless Pipes, Indonesia, Dongkuk Steel Mills, South Korea, Alfagomma, Italy, Fairfield Atlas, India and Empresa Nacional de Energia, Chili. The Corporation has also made sales in the US to Cummins, Seymour, IN, Dunkirk Specialty Steels, Bridgeville, PA and Eaton Corporation, Cleveland,OH.
FINANCIAL HIGHLIGHTS
|
Second quarter |
Semester |
||||
|
Fiscal year |
2014 |
2013 |
2014 |
2013 |
|
|
$ |
$ |
$ |
$ |
||
|
Sales |
1,561,359 |
1,570,451 |
2,604,103 |
2,875,603 |
|
|
Gross Margin |
876,221 |
877,067 |
1,398,870 |
1,541,933 |
|
|
Gross Margin % |
56,1% |
55,8% |
53,7% |
53,6% |
|
|
Total operating expenses |
777,505 |
728,520 |
1,565,178 |
1,412,151 |
|
|
Income taxes |
43,000 |
47,500 |
45,350 |
73,000 |
|
|
Net Result |
55,716 |
101,047 |
(211,658) |
56,782 |
|
|
Net result attributable to Clemex Technologies Inc. |
55,237 |
101,047 |
(201,330) |
56,782 |
|
|
Global result per share (basic & diluted) |
0.002 |
0.003 |
(0.006) |
0.002 |
|
Clement Forget, President and CEO of Clemex Technologies Inc. stated: "Despite a catch-up in our traditional activities at International, our sales still suffer from the uncertainty in the manufacturing sector, more specifically with capital investment in the US, traditionally the most important market for Clemex. Unfortunately, our order book does not reflect short term increase in sales activity in the manufacturing sector abroad nor in North America.
On a more positive side, we are eager to launch our first sales of the Hematology instruments before the end of this current fiscal year. These sales will undoubtedly reinforce our sales performance to hopefully end our fiscal year on a positive note as for sales and profitability.
Mr. Forget continued "Concerning the hematology instrument project; we have been very active with medical instruments exhibitions (AACC Houston, TX) and private demos of our new instruments to major customers and we are convinced that these will result in business opportunities in the short term. As for the 13485 ISO certification, mandatory to obtain Canada Health and FDA approval, we are on time with our implementation plan and should complete the process by mid-January 2014."
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]
The CDNX has not reviewed and does not accept responsibility for the adequacy and accuracy of this press release.