Clemex announces its Financial Results for 2011

MONTREAL, Aug. 12, 2011 /CNW/ -- 
Strong comeback to profitability and Sales increase by more than 43%


Symbol:  CXG.A-TSX-V 
www.clemex.com
Shares Outstanding:  20,749,810


MONTREAL, Aug. 12, 2011 /CNW Telbec/ - Clemex Technologies Inc. (TSXV:
 CXG.A) announces its financial results for Fiscal Year ending April 30(th), 2011. The Corporation ends this Fiscal Year with a positive EBITDA of
 $699 082 when compared to a negative EBITDA of $17 052 in 2010, et
 ended the year with a Net Gain after taxes of $323,090 while a Net Loss
 of $261,520 had been posted in 2010. Sales increased by 43.7% from
 $3,659,129 in 2010 to $5,259,165 in 2011. The most significant increase
 came from International sales which surpassed last year sales by 83.8%.
 Gross margin slightly improved to 60.5% up from 59.3% last year.


When asked to comment these results, the President and CEO, Clement
 Forget declared the following: "The upsurge of activity in the
 industrial and manufacturing sectors which had begun at the end of 2010
 Fiscal year has continued during this past year enabling the Company to
 return to 2008 sales volume. This resumption in activity was
 accompanied by renewed vigour in production rate and profitability
 after two difficult years. We were able to end the year with a net
 profit of $323,090 despite the severe fluctuations of the Canadian
 dollar which also affects our profitability considering approximately
 70% of our sales are concluded in US dollars."


Mr. Forget continued:" At about halfway into this Fiscal year, marketing
 activities also resumed with renewed vigour given the rise in customer
 demand and many opportunities in the market. The Company participated
 in a greater number of trade shows, and its efforts generated results.
 On the other hand, our research project of a medical device for
 Hematology applications is moving along well and we should be setting
 up our first functional prototype unit in a Montreal hospital this
 coming fall.  Finally, our distribution agreement with LEICA
 Microsystems which began in March 2011 has not yet added to our sales
 significantly but it will definitely contribute to increase our
 business and visibility in Canada for years to come.


Financial Highlights



Fiscal year ended           April 30(th), 2011     April 30(th), 2010

                                        $                      $

Sales                               5, 259,165             3, 659,129

                                                                     

Gross Profit                        3, 180,532             2, 169,141

                                        60.5 %                 59.3 %

                                                                     

Total Operating Expenses            2, 692,178             2, 398,628

                                                                     

EBITDA                                 699 082               (17 052)

                                                                     

Net Gain (Loss) &
Comprehensive
Income (Loss)                          323,090              (261,520)

                                                                     

Basic gain (loss) Per Share              0.016                (0.013)





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.



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 responsibility for the adequacy and accuracy of this news release. 


 


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