Clemex Technologies announced its financial results for the third quarter ending January 31st, 2015. Sales reached $1,741,436 compared to $1,741,464 for the same three month period last year.
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The net profit for this quarter is $175,901, (net profit of $175,205 attributable to shareholders of Clemex Technologies), compared to a net profit of $191,899 (net profit of $200,042 attributable to shareholders of Clemex Technologies) posted last year.
After nine months, sales reached $4,770,311 compared to $4,345,567 last year. The Company has accumulated a net profit of $49,962 (net profit of $52,324 for the shareholders of Clemex Technologies), as compared to a loss of $19,759 (loss of $1,288 for shareholders of Clemex Technologies) for the same nine month period last year.
Sales in North America have decreased this quarter when compared to sales from the same three month period last year. In Canada, sales increased by 47.7%, from $392,537 in 2014 to $579,882 in 2015, as for the United States, sales decreased by 41.8%, from $951,698 in 2014 to $554,019 in 2015. Total sales in North America reach $1,133,901 in 2015 compared to total sales of $1,344,235 last year, a decrease of 15.7%.
After nine months, sales in Canada have increased by 33.2% from $850,193 in 2014 to $1,132,678 in 2015, and sales in the United States have also increased by 18.6% from $2,073,052 in 2014 to $2,458,635 in 2015. After nine months, total sales in North America have increased by 22.9%, from $2,923,245 in 2014 to $3,591,313 in 2015.
Sales in European countries have increased by 55.6%, from $108,391 in 2014 to $168,714 in 2015, and sales in other countries abroad have also increased from $288,838 in 2014 to $438,821 in 2015, an increase of 51.9%.
After nine months, sales in European countries remain lower when compared to the previous year, having decreased from $310,465 in 2014 to $254,788 in 2015, as sales in other countries are also lower when compared to the previous year from $1 111,857 in 2014 to $924,210 in 2015. Overall, sales abroad have declined by 17.1%, from $1,422,322 in 2014 to $1,178,998 in 2015.
Operating expenses totalled $722,334 this third quarter, down from $782,365 last year mostly due to commercial expenses being lower as fewer sales activities took place during the third quarter of the fiscal year when compared to other quarters over the fiscal year.
However, the total operating expenses for the nine month period this fiscal year have risen from $2,347,543 last year to $2,486,129. This increase is related to uncommon professional fees incurred this year when compared to last. ■