Clemex announces its Financial Results for 2011
August 12 2011 - 11:49AM
PR Newswire (Canada)
MONTREAL, Aug. 12, 2011 /CNW/ -- Strong comeback to profitability
and Sales increase by more than 43% Symbol: CXG.A-TSX-V
www.clemex.com Shares Outstanding: 20,749,810 MONTREAL, Aug.
12, 2011 /CNW Telbec/ - Clemex Technologies Inc. (TSXV: CXG.A)
announces its financial results for Fiscal Year ending April
30(th), 2011. The Corporation ends this Fiscal Year with a positive
EBITDA of $699 082 when compared to a negative EBITDA of $17 052 in
2010, et ended the year with a Net Gain after taxes of $323,090
while a Net Loss of $261,520 had been posted in 2010. Sales
increased by 43.7% from $3,659,129 in 2010 to $5,259,165 in 2011.
The most significant increase came from International sales which
surpassed last year sales by 83.8%. Gross margin slightly improved
to 60.5% up from 59.3% last year. When asked to comment these
results, the President and CEO, Clement Forget declared the
following: "The upsurge of activity in the industrial and
manufacturing sectors which had begun at the end of 2010 Fiscal
year has continued during this past year enabling the Company to
return to 2008 sales volume. This resumption in activity was
accompanied by renewed vigour in production rate and profitability
after two difficult years. We were able to end the year with a net
profit of $323,090 despite the severe fluctuations of the Canadian
dollar which also affects our profitability considering
approximately 70% of our sales are concluded in US dollars." Mr.
Forget continued:" At about halfway into this Fiscal year,
marketing activities also resumed with renewed vigour given the
rise in customer demand and many opportunities in the market. The
Company participated in a greater number of trade shows, and its
efforts generated results. On the other hand, our research project
of a medical device for Hematology applications is moving along
well and we should be setting up our first functional prototype
unit in a Montreal hospital this coming fall. Finally, our
distribution agreement with LEICA Microsystems which began in March
2011 has not yet added to our sales significantly but it will
definitely contribute to increase our business and visibility in
Canada for years to come. Financial Highlights Fiscal year ended
April 30(th), 2011 April 30(th), 2010 $ $ Sales 5, 259,165 3,
659,129 Gross Profit 3, 180,532 2, 169,141 60.5 % 59.3 % Total
Operating Expenses 2, 692,178 2, 398,628 EBITDA 699 082 (17 052)
Net Gain (Loss) & Comprehensive Income (Loss) 323,090 (261,520)
Basic gain (loss) Per Share 0.016 (0.013) 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 Exchange has not reviewed and does not accept
responsibility for the adequacy and accuracy of this news
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bClemex Technologies Inc, /bbr/ 800 Guimond,br/ Longueuil, QC,
Canada J4G 1T5,br/ br/ Contact:br/ br/ Clément Forgetbr/ Tel:
450.651.6573br/ Email: a href="mailto:ir@clemex.com"
cr="true"ir@clemex.com/a /p
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