Clemex Technologies unveils record profits
June 27--Clemex Technologies Inc. (Longueuil, QC, Canada J4G 1T5) posted a record net profit of $505,828 or $0.03 per share for fiscal year 2002.
June 27--Clemex Technologies Inc. (Longueuil, QC, Canada J4G 1T5; www.clemex.com), which supplies image-analysis systems and software used by quality control and research microscopy laboratories, posted a record net profit of $505,828 or $0.03 per share for fiscal year 2002.
This gain compares to a net loss of $248,813 or $0.01 per share last year. Gross margin increased to 56% in 2002 from 51% in 2001. Sales decreased slightly by 7.7% to $6.2 million in 2002 versus $6.7 million in 2001.
Sales increased in the United States by 30%, according to Clement Forget, president, chief executive officer, and chairman of Clemex Technologies. He said that the company's development strategy for new markets, such as the pharmaceutical industry, resulted in breakthroughs within major corporations such as Pfizer, Glaxo SmithKline, and Abbott. The company plans to open a sales office in Toronto to cover the central region of Canada and the United States.