Clemex Discloses Third Quarter Results for FY 2011

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.


 


 


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p bCLEMEX TECHNOLOGIES INC, /bbr/ 800 Guimond,br/ Longueuil, QC, Canada J4G 1T5, /p p Contact: /p p align="justify" Clément Forgetbr/ Tel: [phone]br/ Email: a href="mailto:[e-mail]"[e-mail]/a /p 

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