11.7% increase in sales
Symbol: CXG.A-CDNX
www.clemex.com
Shares Outstanding: 23,999,810
MONTREAL,
March 20, 2012 /PRNewswire/ - Clemex
Technologies Inc. (TSXV: CXG.A), announces its results for its Q3
of FY2012 ending January
31st, 2012. For this third quarter, sales reached
$1,6M, an increase of $177,222 or 11.7% compared to the same period
last year. After nine months, sales reached $4,3M, an increase of 18.3% when compared to last
year. The Corporation ends this quarter with a net profit of
$66,341 compared to a net profit of
$93,333 posted last year. Year to
date profit after 9 months, the Company has accumulated a net
profit of $32,098 compared to a net
profit of $169,951 last year.
During this third Quarter, the Company's sales
increase continued with regards to the MicroHardness testers with
sales to 5 major clients in North
America: Group O (Illinois), Berg Group (Florida), Delphi (Michigan), Black Cat Blades (Alberta), and Ecole Polytechnique
(Montreal). The Company also sold
images analysis systems to 2 major clients in the United States, Bombardier Recreation
Products (Wisconsin) and Universal
Stainless (Pennsylvania). Other
sales to the pharmaceutical industry include sales of a PS Filter
to Merck Sharp and Dohme in New
Jersey and to West Pharmaceutical in Pennsylvania. Finally, other image analysis
systems and two MicroHardness testers were sold in India during this third Quarter.
FINANCIAL HIGHLIGHTS
|
Quarter |
Nine
months |
Fiscal Years |
2012 |
|
2011(1) |
|
2012 |
|
2011(1) |
|
$ |
|
$ |
|
$ |
|
$ |
Sales |
1,634,138 |
|
1,463,916 |
|
4,289,280 |
|
3,625,676 |
|
|
|
|
|
|
|
|
Gross Margin |
904,295 |
|
848,878 |
|
2,333,805 |
|
2,169,374 |
Gross Margin % |
55.3% |
|
58.0% |
|
54.4% |
|
59.8% |
Total Operating Expenses |
795,454 |
|
697,545 |
|
2,194,207 |
|
1,871,423 |
|
|
|
|
|
|
|
|
Income Taxes |
42,500 |
|
58,000 |
|
107,500 |
|
128,000 |
|
|
|
|
|
|
|
|
Net Profit |
66,341 |
|
93,333 |
|
32,098 |
|
169,951 |
|
|
|
|
|
|
|
|
Net Profit per share |
0.003 |
|
0.004 |
|
0.001 |
|
0.008 |
(1) Figures for 2011 have been
restated to conform to IFRS.
Clement Forget,
President and CEO of Clemex Technologies Inc. declared: "The
industrial sector continues to improve in the United States, and this reflects in
increased sales for that geographical sector. Our profitability has
been affected this third quarter by the increase in our operations
costs. We have sustainably continued our efforts of commercial
development and R&D activities of our Hematology instrument
while investments have also been carried out for the development of
a new corporate Web site. These initiatives will contribute to
structure and promote the future developments of the Company. As
far as for the development of the new instrument for Hematology, we
have recently made important progress and we are close to complete
a working prototype."
He continued; "Even if carrying out this project
has taken longer than anticipated, we are very satisfied by the
work achieved. We have overcome important technological milestones
which encourages us for the next step of the project. We expect to
test our first units this spring and reach a commercial deployment
later this fall". The Clemex Hematology instrument will allow the
automated blood smears analysis relying of the well proven and very
sophisticated image analysis system.
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's
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 CDNX has not reviewed and does not accept
responsibility for the adequacy and accuracy of this press
release.
SOURCE CLEMEX TECHNOLOGIES INC.