Clemex Technologies Inc. (TSXV:CXG.A)
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MONTREAL, Dec. 14 /CNW/ --
After 6 months, the Company declares a profit of $83,074, a net
turnaround of $173,231
when compared to the previous fiscal year
Symbol: CXG.A-TSXV
www.clemex.com
Shares Outstanding: 20 749 810
MONTREAL, Dec. 14 /CNW Telbec/ - Clemex Technologies Inc. (TSX Venture
CXG.a), designer and manufacturer of Image Analysis systems and
software for microscopy applications, announces today its quarterly
results for the second quarter of FY2011 ending October 31(th), 2010. For this second Quarter, sales reached $1,144,906 an increase of
$119,847 or 11.6% when compared to the same period last year. For this
last Quarter, the Corporation posts a Net Profit of $30,258 compared to
a Net Profit of $50,871 for Q2 last year.
Gross Margin is at 61.5% for this quarter, slightly higher than for the
same period last year at 59.6%. The Company was able to maintain a good
profitability in spite of the significant increase in commercial
expenses intended to sustain the development of business in some
profitable market sectors. For the first six months of this fiscal
year, commercial expenses have raised by approximately $80,000 as the
Company attended several commercial trade shows. Clemex continues to be
very active in Research and Development in view of the development and
marketing of the new and innovative hematology instrument. Furthermore,
the NRC-IRAP grant for the Hematology instrument development project to
cover salary expenses ended during this Quarter.
FINANCIAL HIGHLIGHTS
Second Quarter Six Months
Fiscal Year 2011 2010 2011 2010
$ $ $ $
Sales 1,144,906 1,025,059 2,161,761 1,753,690
Cost of Sales 441,101 414,153 818, 423 679,000
Gross Margin 703,805 610,906 1,343,338 1,074,690
61.5% 59.6% 62.1% 61.3%
Operating Expenses
Commercial Expenses 288,740 256,276 574,868 495,083
Administrative 203,544 177,064 374,808 346,081
Expenses
R&D less Tax credits 120,375 68,907 198,809 152,791
Amortization 30,058 29,244 60,116 58,200
Financial Expenses 21,471 18,284 43,169 41,285
Net foreign exchange 9,359 10,260 8,494 71,407
loss (gain)
673,547 560,035 1,260,264 1,164,847
Net Profit / Loss 30,258 50,871 83,074 (90,157)
Net Profit / Loss per 0.001 0.002 0.004 (0.004)
share
Over the last three months, the Company made several sales to strategic
clients in the manufacturing sector in North America and abroad.
Several sales were for the Clemex CMT.hd, an automated MicroHardness
tester widely used in the Automotive and other manufacturing sector.
North American clients in this past Quarter were Interstate McBee,
(OH); Amsted rail (VA); Fleet Readiness Center East, (NC); Fisher
Barton Specialty Products, (WI) and to Flight Systems Electronics
Group, (PA). On the International side, the Company made important
sales to Magna Powertrain in Mexico, DeHua Testing (China) and has also
sold two Inclusions Rating Systems for the quantification of
cleanliness in steel to POSCO in Korea.
Clement Forget, President and CEO of Clemex Technologies Inc. declared:
"We continue to benefit from the slow recovery of activity in the US
manufacturing sector, mainly from the automotive industry. Sales to
this sector over this past Quarter came mostly from our CMT.hd, an
Automatic MicroHardness tester, widely used for testing heat treated
parts in the automotive manufacturing. On the International side,
sales were made to the Steelmakers in Korea and China, countries where
revival of activity in the steelmaking industries seems to be well on
its way." He continued; "A certain revival of market is now discernible
and will contribute to the increase in sales of our traditional market
sectors. Furthermore, our growth perspectives have never been better on
short and longer term. The new exclusive Canadian distribution
agreement with Leica Microsystems beginning in March 2011 will be very
positive on our sales growth. We anticipate sales increase for both
short and long terms to come."
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 release in HTML formatting, please use the following URL: http://www.cnw.ca/en/releases/archive/December2010/14/c5075.html
pClément Forgetbr/ Tel: 450.651.6573br/ Email: a href="mailto:ir@clemex.com"ir@clemex.com/a/p