(The Company reduces Loss before taxes significantly)
Shares Outstanding: 20,749,810
MONTREAL, Aug. 25 /CNW Telbec/ - Clemex Technologies Inc. (TSX Venture:
CXG.A) announces its financial results for Fiscal year 2009 ending April 30th,
2009. The Corporation ends this Fiscal Year with a Loss before taxes of $9,599
while a $132,218 Loss before taxes had been posted in 2008. For that same
period, sales dropped by 10% to $5,120,918 from $5,654,101 in 2008. The most
critical sales drop came from North America with a reduction of $845,711
compared to last year, of which $658,008 came from Canada alone. This
reduction in sales in North America was compensated to some extent by a good
performance in Europe where sales increased by $415,253 compared to 2008.
Gross Margin remained at 59%, same as last year.
When asked to comment these yearly results, the President and CEO,
Clement Forget declared the following: "Despite the collapse of the
manufacturing sector which began to affect us as early as December 2008, we
managed to maintain our sales to an acceptable level by concentrating our
efforts on other sectors such as the Pharmaceutical industries, Research
Centers and Universities. Moreover, Management had put in place several cost
reduction measures very early last fall in order to align expenses to the
reducing market activities. These measures helped minimize the overall effect
of the economic crisis and to end this last Fiscal Year with a minimal loss.
Fiscal year ended April 30th, 2009 April 30th, 2008
Sales 5,120,918 5,654,101
Cost of Sales 2,112,455 2,301,985
Gross Margin 3,008,463 3,352,116
Gross Margin % 59% 59%
Sales & Marketing 1,418,615 1,646,248
Administration 1,004,145 1,051,909
Financial 129,668 127,233
Amortization 99,929 106,009
R&D 400,283 472,665
Loss (gain) on foreign exchange (34,578) 80,270
Profit/Loss Before Taxes (9,599) (132,218)
Income Taxes 90,000 95,000
Net Profit/Net (Loss) (99,599) (227,218)
Earnings/(Loss) Per Share (0.005) (0.012)
Earnings/(Loss)Per Share diluted (0.005) (0.012)
Mr. Forget continued:" Over the last few weeks, several signs indicate a
revival in the manufacturing sector which should translate in better sales
during the second part of FY 2010. On the other hand, our recent commitment to
design and produce Medical Devices will help to diversify the product line and
prevent manufacturing activity fluctuations to affect us for years to come."
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.
For further information:
For further information: Clément Forget, Clemex Technologies Inc, (450)