5% increase in sales
Shares Outstanding: 30,999,810
MONTREAL, Sept. 11, 2012 /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 first Quarter of FY2013 ending July 31, 2012. For this first Quarter, sales reached $1,305,152 an increase of $64,322 or 5% compared to the same period last year. The Corporation ends this quarter with a Net Loss of $44,265 compared to a Net Loss of $46,247 posted last year.
During this past Quarter, the Corporation made several sales to clients in the manufacturing sector in North America: NUCOR Steel Mills, Blytheville Arkansas, NSL Central Testing, Cleveland Ohio, University of Toronto, Toronto Ontario and McMaster University, Hamilton Ontario. On the International side, substantial sales were made to Tenaris Silcotub in Romania, Renk Zanini, Brazil and Nano S-Tech in South Korea.
|First Quarter July 31|
|Gross Margin %||50.9%||53.8%|
|Total Operating Expenses||681 131||686 419|
|Net Loss per share||(0.001)||(0.002)|
Clement Forget, President and CEO of Clemex Technologies Inc. declared: "Given the circumstances of the market, we are satisfied with our results for this First Quarter of FY2013. Moreover this Quarter is always slightly more difficult to manage because of the slowdown related to summer vacation. The limited growth in the manufacturing sector in Asia has also affected our sales during this first Quarter. However, we have managed to keep our Operating Expenses to the same level as last year in spite of a growth of activities.
Mr. Forget continued:"We have recently concluded a 1 M$ private investment from a German company, Zwick/Roell AG, and this has reinforced our business partnership which already existed. Now with two strong strategic partners, RAL Diagnostics and Zwick/Roell AG, a healthier improved financial position, we are able to pursue our developments projects in the biomedical sector with enthusiasm."
The board has granted a total of 470,000 stock options to board members and employees of the Company on September 11th, 2012. After this grant, a total of 1,634,981 stock options remain available according to the total outstanding shares and the stock option plan rules in force.
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.