Clemex Discloses Third Quarter Results for FY 2011
March 22 2011 - 2:20PM
PR Newswire (Canada)
MONTREAL, March 22 /CNW/ -- The Company's sales increased by nearly
50%. Symbol: CXG.A-TSXV www.clemex.com Shares
Outstanding: 20 749 810 MONTREAL, March 22 /CNW Telbec/
- Clemex Technologies Inc. (TSXV: CXG.A), designer and manufacturer
of Image Analysis systems and software for microscopy applications,
announces today its results for the third Quarter of FY2011 ending
January 31(th), 2011. For this third Quarter, sales reached
$1,463,916, an increase of $473,541, (47.8%), above last year sales
for the same period. The Corporation posts a Net Profit of $90,489
compared to a Net Profit of $10,886 for Q3 last year. After nine
months, the Company's sales reached $3,625,676 ($2,744,065 in
FY2010) and posts a Net Profit of $173,563 compared to a Net Loss
of $79,272 last year. Gross Margin is at 58.8% for this quarter,
slightly lower than for the same period last year at 59.5%. (stable
after nine months). For this last quarter, operating expenses have
increase by $190,000 ($287,000 after nine months) with the increase
of sales and marketing activities as they were reduced to a minimum
during the last fiscal year. Further more, the Company continues to
pursue research and development of its innovative Hematology
instrument. FINANCIAL HIGHLIGHTS Third Quarter Nine Months Fiscal
Year 2011 2010 2011 2010 $ $ $ $ Sales 1,463,916 990,375 3,625,676
2,744,065 Gross Margin 860,300 589,157 2,203,637 1,663,847 58,8%
59,5% 60,8% 60,6% Total Operating Expenses 769,810 578,271
2,030,074 1,743,119 Net Profit (Loss) & 90,489 10,886 173,563
(79,272) Comprehensive income Net Profit (Loss) per share 0,004 -
0,008 (0,004) Over the last three months, the Company made several
sales to clients from the manufacturing sector in North America and
abroad such as Linamar (Canada), Snap-On Tools( USA), BorgWarner
(USA), Sanoh (USA), Wescast Industries (Hungary), Exide
Technologies (USA), Sherry Laboratories (USA), Interstate McBee
(USA) and Caterpillar (India). The Company also concluded important
sales of its PSA300, a Particle Size and Shape analyzer to
Neutrogena (USA) and Actelion Pharmaceuticals in Switzerland. When
asked to comment these results, Clement Forget, President and CEO
of Clemex Technologies Inc. declared: "Even though the
manufacturing in the United States has not yet reached its normal
speed, we are assisting a renewal of laboratory equipment. For the
second consecutive quarter, we have sold seven automatic
MicroHardness testers, an instrument mainly used for quality
control of materials. The president continued; "We have also seen a
recovery of sales for the PSA300 destined to the pharmaceutical
industry, which had been slower for the last 18 months. These sales
are encouraging for our next fiscal year as we will be focusing on
Life Sciences Industry even more with our new instrument designed
for Hematology. Our short and long term perspectives are promising
and we remain confident that the present fiscal year will end on a
positive note as our backlog order book is very good this last
quarter." 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
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bCLEMEX TECHNOLOGIES INC, /bbr/ 800 Guimond,br/ Longueuil, QC,
Canada J4G 1T5, /p p Contact: /p p align="justify" Clément
Forgetbr/ Tel: 450.651.6573br/ Email: a
href="mailto:ir@clemex.com"ir@clemex.com/a /p
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