Clemex announces its Financial Results for 2010

MONTREAL, Aug. 11 /CNW/ -- 
    
    Symbol: CXG.A-TSX-V
    www.clemex.com
    Shares Outstanding: 20,749,810
    


MONTREAL, Aug. 11 /CNW Telbec/ - Clemex Technologies Inc. (TSX Venture: CXG.A) announces its financial results for Fiscal Year ending April 30th, 2010. The Corporation ends this Fiscal Year with a Loss before taxes of $229,487 while a $9,599 loss before taxes had been posted in 2009. Sales dropped by 28.5% to $3,659,129 from $5,120,918 in 2009. The critical sales drops came from the United States and Europe with decreases of 33.5% and 76.8 % respectively. Gross Margin remained the same at 59.3%.
When asked to comment these results, the President and CEO, Clement Forget declared the following: "The collapse of the manufacturing sector in United States which began near the end of 2008 has continued to affect our results significantly during this past year. Further more, the economic difficulties and slow down in the European area has also affected the sales on the International side. And despite a slight regain in economic activity at the end of the fiscal year, we see that manufacturing industries have not yet fully recovered from the slowdown."
Mr. Forget continued: "Despite a significant drop in sales, tight control of expenses has allowed us to minimize our loss. On the other hand, our new research project of a medical device for Hematology applications developed in partnership with NRCC is on track and we anticipate sales for this new instrument in the third and fourth Quarter of this next fiscal year. We anticipate the future optimistically in view of the activity regain in the manufacturing sector and the introduction of new products for the medical sector."


    
    Financial Highlights

    Fiscal year ended                     April 30th, 2010  April 30th, 2009
                                                         $                 $
    Sales                                        3,659,129         5,120,918
    Cost of Sales                                1,489,988         2,112,455
                                                -----------       -----------

    Gross Profit                                 2,169,141         3,008,463
    Gross Margin                                      59.3%             58.7%

    Operating Expenses
    Commercial Expenses                          1,022,244         1,418,615
    Administration Expenses                        782,200         1,004,145
    Financial Expenses                              91,583           129,668
    Amortization                                   120,852            99,929
    Research & Development                         273,875           400,283
    Loss (gain) on foreign exchange                107,874           (34,578)
                                                -----------       -----------
                                                 2,398,628         3,018,062

    Loss Before Income Taxes                      (229,487)           (9,599)

    Income Taxes                                    32,033            90,000

    Net Loss                                      (261,520)          (99,599)
                                                -----------       -----------
                                                -----------       -----------

    Basic Loss Per Share                            (0.013)           (0.005)
    Diluted Loss Per Share                          (0.013)           (0.005)
    


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 Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this news release.



Clément Forget, Tel: [phone], Email: [e-mail]

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