Clemex Discloses First Quarter Results for FY 2010



    
    Symbol: CXG.A-CDNX
    www.clemex.com
    Shares Outstanding: 20,749,810
    

    MONTREAL, Sept. 11 /CNW Telbec/ - Clemex Technologies Inc. (TSX Venture
CXG.a), designer and manufacturer of Image Analysis systems and software for
microscopy applications, announced today its quarterly results for its first
quarter of FY2010 ending July 31 2009. For this first Quarter of FY 2010,
sales reached $728,631, a decrease of $791,051 compared to last year for the
same period. The Corporation ends this Quarter with a Net Loss of $141,029
while a $75,533 Net Profit had been posted for Q1 last year. Earnings for this
Quarter were severely affected by the economic slowdown of the manufacturing
sector in North America and by the significant increase of the Canadian Dollar
value. Gross Margin for this First Quarter was 63.6%, as it was 59.8% for the
same period last year. During this First Quarter, the Company made its sales
mainly to the pharmaceutical industries such as Novartis, East Hanover, (NJ),
Allergan, Irvine (CA), Sanofi Aventis, Bridgewater, (NJ) and to a private
commercial laboratory, MSI Testing of Melrose Park, (IL).

    
    FINANCIAL HIGHLIGHTS

                                                   First Quarter
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    Fiscal Year                                           2010          2009
    -------------------------------------------------------------------------
                                                             $             $
    Sales                                              728,631     1,519,682
    Cost of Sales                                      264,847       611,065
    -------------------------------------------------------------------------
    Gross Margin                                       463,784       908,617

    Operating Expenses
      Commercial Expenses                              238,807       390,514
      Administrative Expenses                          169,017       242,901
      R&D less Tax credits                              83,884       144,976
      Amortization                                      28,956        19,791
      Interest & bank charges                           22,757        31,546
      Net foreign exchange loss                         61,392         3,356
    -------------------------------------------------------------------------
                                                       604,813       833,084

    Net Profit/Loss                                   (141,029)       75,533

    Net Profit/Lost per share                           (0.007)        0.004
    

    Clement Forget, President and CEO of Clemex Technologies Inc. declared:
"Q1 results for FY2010 are very disappointing despite enormous efforts
deployed by our sales staff to close sales in the US. Almost every
manufacturer contacted has reported their Capital expenditures to next year,
which correspond to the third Quarter of this Fiscal Year. We have succeeded
in limiting our Net Loss to an acceptable level by significantly reducing our
expenses in all departments. We begin to see a slight regain of activity in
the manufacturing sector however it is rather unlikely to expect a positive
effect on our sales before the third Quarter. In the meantime, we maintain our
cost reduction plan and increase our sales efforts in other markets to
compensate for the slowdown in the manufacturing sector."

    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.
    




For further information:

For further information: Clément Forget, President and CEO, Clemex
Technologies Inc, (450) 651-6573, ir@clemex.com

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Clemex Technologies Inc.

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