Clemex Discloses Second Quarter Results. Net Profit of $55,237
December 10 2013 - 1:58PM
Access Wire
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.
--30--
Clemex Technologies Inc,
800 Guimond,
Longueuil, QC, Canada J4G 1T5,
Contact:
Clement
Forget,
President and CEO
Tel: 450.651.6573
Email:
ir@clemex.com
The CDNX has not reviewed and does not accept
responsibility for the adequacy and accuracy of this press
release.