Clemex Discloses Third Quarter Results
Symbol: CXG.A-CDNX
www.clemex.com
Shares Outstanding: 30,999,810
MONTREAL, March 19, 2013 /CNW Telbec/ - Clemex Technologies Inc. (TSXV: CXG.A), designer and manufacturer of Image Analysis systems and software for microscopy applications, announces its financial results for the third Quarter of FY2013 ending January 31st, 2013. For this third Quarter, sales reached $1,494,978 a decrease of 8.5% compared to the same period last year. The Corporation ends this quarter with a Net Result of $17,669 compared to a Net Result of $66,341 posted last year. For the nine month period of FY2013, sales reached $4,370,581 compared to $4,289,280 last year while the Company posted a Net Result of $74,451 compared to a Net Result of $32,098 for the same period last year.
During this third Quarter, the Corporation made several sales to clients in the manufacturing sector in North America: CamCraft, IL, Exxon Mobil, TX, Charter Automotive, WI, LM Enterprises, FL, Federal Mogul, MI and Blue Water, IL. As for the International side, the Corporation made major sales to West Pharma, Germany and to its Distributor in Turkey, Karfo-Endustriyel.
FINANCIAL HIGHLIGHTS
| Quarter | Nine Months | ||||||
| Fiscal Years | 2013 | 2012 | 2013 | 2012 | |||
| $ | $ | $ | $ |
||||
| Sales | 1,494,978 | 1,634,138 | 4,370,581 | 4,289,280 | |||
| Gross Margin | 841,939 | 904,295 | 2,383,872 | 2,333,805 | |||
| Gross Margin % | 56.3% | 55.3% | 54.5% | 54.4% | |||
| Total Operating Expenses | 788,170 | 795,454 | 2,200,321 | 2,194,207 | |||
| Income Taxes | 36,100 | 42,500 | 109,100 | 107,500 | |||
| Net Result attributable to Clemex Technologies Inc. | 17,669 | 66,341 | 74,451 | 32,098 | |||
| Global Result per share (basic and diluted) | 0.001 | 0.003 | 0.002 | 0.001 | |||
Clement Forget, President and CEO of Clemex Technologies Inc. declared: "Despite the fact that sales for this Quarter are slightly lower than for the same period last year, we are pleased with the results of this third Quarter of 2013. The manufacturing sector in the USA is still unstable despite the automotive sector regain of activity and we have difficulties to conclude sales in other sectors such as the Aerospace and Pharmaceutical industries. On the positive side, despite the reduced sales, an improvement in our Gross Margin allowed us to generate a Net Profit of $17,669.
Mr. Forget continues "With regards to our Hematology project, we have implemented two instruments in specialized laboratories for validation over the last three months; one of them being a Hospital. A third instrument is to be implemented in another hospital at the end of this month. Finally, we are pleased to announce that the Company signed a commitment to buy a parcel of land of 10 000 square meters in the Technological Park in Saint-Bruno-de-Montarville for an office building to be built in 2014."
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 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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