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Clemex Discloses Second Quarter Results

11% increase in sales with more than $100,000 Net Profit

Symbol:  CXG.A-CDNX
www.clemex.com
Shares Outstanding30,999,810

MONTREAL, Dec. 14, 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 second Quarter of FY2013 ending October 31st, 2012. For this second Quarter, sales reached $1,570,451 an increase of 11% compared to the same period last year. The Corporation ends this quarter with a Net Profit of $101,047 compared to a Net Profit of $12,004 posted last year. As for the first six month period of FY2013, sales reached $2,875,603 compared to $2,655,142 last year while the Company posted a Net Profit of $56,782 compared to a Net Loss of $34,243 for the same period last year.

During this past Quarter, the Corporation made several sales to clients in the manufacturing sector in North America: Teutech Industries, Ontario, Canada, Nitrex Metal, Quebec, Canada, Total Petrochemicals, Texas (USA), Gerdau, Arkansas (USA), Steel Dynamics, IN (USA) and Raytheon Company, Texas (USA).  As for the International side, the Corporation made substantial sales to General Motors, Mexico, NRB Bearings India and to Hyundai Motors, South Korea.

FINANCIAL HIGHLIGHTS   

  Quarter Semester

  Fiscal Years
2013 2012 2013 2012
  $ $ $ $
Sales 1,570,451 1,414,314 2,875,603 2,655,142
         
Gross Margin 877,067 761,339 1,541,933 1,429,510
Gross Margin % 55.8% 53.8% 53.6% 53.8%
Total Operating Expenses 728,520 712,335 1,412,151 1,398,753
         
Income Taxes 47,500 37,000 73,000 65,000
         
Net Profit(Loss) 101,047 12,004 56,782 (34,243)
         
Net Profit(Loss) per share 0.003 0.001 0.002 (0.002)

Clement Forget, President and CEO of Clemex Technologies Inc. declared: "We are quite pleased with the results of this second Quarter of 2013. Clemex had reasonable success in the manufacturing sector in the USA where the automotive industry continues to perform well since the beginning of the year. We have also concluded important sales in the steel manufacturing industries, a sector of activity that had declined in the last few years. Finally, sales of our MicroHardness Testers, the Clemex CMT.HD keep up at a steady rate, confirming that Clemex is definitely offering one of the best instruments on worldwide market for this field of application.

The CEO continued "Sales for this Quarter are in line with our internal forecasts and take us back to profitability.  While we work on keeping expenses under control, we invest more in marketing activities in view of the introduction of the new line of instruments for Hematology which should occur within the next six months. Concerning this matter, Clemex along with its French partner RAL Diagnostics participated at one of most important Medical instruments Trade show in the world, Medica in Düsseldorf, Germany this past November where we introduced our latest instrument, the HemaCyto 2L and the interest from the show attendees was extremely positive.  We have also just exhibited the same instrument this week in Atlanta GA, USA, at the ASH (American Society for Hematology) conference where we also had an excellent response from the American Medical community. Our R & D team is working very hard to fine tune the last details of the instruments while a three month validation period will be required before the official launching".

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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