Clemex announces its Financial Results for 2012
Sales increase of 12,9%
Symbol: CXG.A-TSX-V
www.clemex.com
Shares Outstanding: 29,799,810
MONTREAL, Aug. 27, 2012 /CNW Telbec/ - Clemex Technologies Inc. (TSXV: CXG.A) announces its financial results for Fiscal Year ending April 30th, 2012. The Corporation ends this Fiscal Year with a sales increase of 12.9% from $5,3 M in 2011 to $5,9 M in 2012. The most significant increase came from North America this last fiscal year with an increase of 36.4%. Net result for 2012 is $43,467 while it was $320,497 in 2011.
When asked to comment these results, the President and CEO, Clement Forget declared the following: "Along with the regain of activity in the manufacturing sector last year, sales increase which had begun in 2010, have continued their increase over the last fiscal year. The highest growth was in North America despite the slowest than expected sales activity for the Leica line of products in Eastern Canada. Of all the geographic area covered by the Company, only the international market showed a decline in this past fiscal year. While European sales were fairly stable during this past year, sales in other countries saw a sharp drop, especially in Asia, where the economic growth has slowed down over the last quarters of the year."
Mr. Forget continued: "We have pursued our marketing activities with the development of a new website and other various internal management tools. The Company participated at several important tradeshows. The research and development team devoted most of their time to the Haematology project while continuing the development of other projects of lesser scope. The first instruments for Haematology application will be implemented in laboratories this coming fall."
| Financial Highlights | |||
| Fiscal year ended | April 30th, 2012 | April 30th, 2011 | |
| $ | $ | ||
| Sales | 5, 939,016 | 5,259,165 | |
| Gross Margin | 3, 159,697 | 3,134,845 | |
| 53.2 % | 59.6 % | ||
| Total Operating Expenses | 3,116,230 | 2, 814,348 | |
| Net Earnings & Comprehensive Income | 43,467 | 320,497 | |
| Earnings per share | 0.002 | 0.015 |
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.
SOURCE: CLEMEX TECHNOLOGIES INC.
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