Record Annual Revenue and Gross Margin
BURLINGTON, ON--(Marketwired - Dec 15, 2016) - Memex Inc. ("Memex" or the "Company") (
Summary Financial Highlights for the Year Ended September 30, 2016:
Management Commentary:
"2016 was a transition year where early adopters more fully understood the value of our data-driven manufacturing solutions. Additionally, customers expanded their current deployments of our platform, and new prospects were asking about enterprise wide deployment strategies," said David McPhail, President and CEO of Memex. "At IMTS, we introduced a whole new range of next generation IIoT products, and we believe that these products will increase MERLIN's value proposition in Cisco's Connected Machines Strategy."
2016 Fiscal Year End and Operational Highlights:
Summary Financial Highlights for Fourth Quarter Ended September 30, 2016:
Selected Financial Information
Three-month period ended Sep 30 |
Year ended Sep 30 |
||||||
(Canadian dollars - in thousands except per share and margin%) | 2016 | 2015 | Change | 2016 | 2015 | change | |
Revenue | 806 | 575 | + 40% | 2,910 | 1,929 | + 51% | |
Bookingsi | 811 | 556 | + 46% | 3,415 | Note 1 | ||
Gross margin % | 72.0 | 67.3 | + 7% | 66.2 | 58.9 | + 12% | |
Operating expenses | 1,296 | 987 | + 31% | 4,867 | 3,542 | + 37% | |
Cash utilized in operating activities2 | 659 | 467 | + 41% | 2,720 | 2,076 | + 31% | |
Net and comprehensive loss for the period | (726) | (500) | - 45% | (2,805) | (2,353) | - 19% | |
Basic and diluted loss per share - period | (0.007) | (0.005) | - 39% | (0.028) | (0.030) | + 8% |
1. Memex only began collecting bookings data July 1, 2015, comparable information is not available.
2. Before changes in non-cash working capital balances.
As at September 30 (Canadian dollars - in thousands except WC ratio) |
2016 | 2015 | |||||
Cash on hand | 2,899 | 3,316 | |||||
Current assets | 4,156 | 4,219 | |||||
Total assets | 4,639 | 4,745 | |||||
Current liabilities | 1,047 | 990 | |||||
Working capital* | 3,109 | 3,229 | |||||
Working capital ratio** | 3.97 to 1 | 4.26 to 1 | |||||
Backlogi | 848 | 409 |
* Working Capital = current assets - current liabilities
** Working Capital ratio = current assets / current liabilities
About Memex Inc.
Memex, the developer of MERLIN, an award winning IIoT technology platform that delivers tangible increases in manufacturing productivity in Real-Time, is the global leader in machine to machine connectivity solutions. Committed to its mission of, "Successfully transforming factories of today into factories of the future", and encouraged by the accelerating adoption and success of MERLIN, Memex is relentlessly pursuing the development of increasingly innovative solutions suitable in the IIoT era. Memex envisions converting every machine into a node on the corporate networks, thereby, creating visibility from shop-floor-to-top-floor. Memex, with its deep commitment towards machine connectivity, offers solutions that are focused on finding hidden capacity by measuring and managing Real-Time data. This empowers Memex's customers to effectively quantify and manage OEE, reduce costs, and incorporate strategies for continuous lean improvement.
For more information, please visit: www.MemexOEE.com
Neither the TSX Venture Exchange nor its Regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
i This non-IFRS financial measure is identified, defined and reconciled to the closest IFRS measure, revenue, within our Management's Discussion and Analysis for the years ended September 30, 2016 and 2015, in the section "Other Financial Measures." That MD&A is available at www.sedar.com under our company profile.
Contact Information:
For investor inquiries please contact:
Ed Crymble
Chief Financial Officer
905-331-4343
David McPhail
President & CEO
519-993-1114
Sean Peasgood
Investor Relations
416-565-2801