Clemex Discloses Third Quarter Results

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 31^st, 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.

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