ACCESS Newswire
13 Jan 2022, 18:08 GMT+10
BURLINGTON, ON / ACCESSWIRE / January 13, 2022 / Memex Inc. ('Memex' or the 'Company') (TSXV:OEE), a leader in Industrial Internet of Things (IIoT) manufacturing productivity software, today released financial and operational highlights for its fiscal year ending September 30, 2021. All results are reported in Canadian dollars.A complete set of its September 30, 2021 Consolidated Financial Statements and Management's Discussion & Analysis has been filed at www.sedar.com.
Summary financial highlights for the three-months ended September 30, 2021:
Summary financial highlights for the year ended September 30, 2021:
Management commentary:
'A year ago, Memex transitioned our business model to a more digital sales-based approach, and we adjusted our product delivery strategy,' said Memex CEO David McPhail. 'We continued to execute against these shifts, resulting in strong year-over-year revenue growth, positive cash flow generation and a net profit. Entering fiscal 2022, we see continued strength and interest as U.S. supply chains seek domestic sources, leading to increased business for many of our customers and prospects. Machine downtime exasperates manufacturers' abilities to deliver product and thus many are seeking ways to optimize production. Memex has the solution to solve this real and growing problem.'
Selected financial information:
* Working Capital = current assets - current liabilities less unearned rev
** Working Capital ratio = current assets / current liabilities less unearned rev
About Memex Inc.:
Established in 1992, Memex grew to be an industry leader in Industry Internet of Things (IIoT) through the development of MERLIN Tempus, an award-winning platform that delivers real-time, tangible increases in manufacturing productivity. Memex is on the leading edge of industry trends in computing power, machine connectivity, industry standards, advanced software technology, and manufacturing domain expertise.
Our persistent pursuit of innovative IIoT solutions led to a comprehensive understanding of the challenge's manufacturers face. We made it our mission to, 'successfully transform factories of today into factories of the future.' As the global leader in Machine to Machine (M2M) connectivity solutions, our hardware and software products create unparalleled visibility at all levels, from 'Shop-Floor-to-Top-Floor.'
The MERLIN Tempus Suite provides effective quantification and management of Overall Equipment Effectiveness (OEE) by revealing hidden capacity using real-time objective data. Further, it offers sustainable benefits that enable world-class OEE such as reducing costs, incorporating strategies for continuous LEAN improvement, and boosting bottom-line financial performance. For more information, please visit: www.MemexOEE.com
For investor inquiries please contact:
Sean Peasgood, Investor Relations
647-977-9264
[email protected]
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 & ii These non-IFRS financial measures are identified, defined and reconciled to their closest IFRS measures, revenue and unearned revenue, within our Management's Discussion and Analysis for the periods ended September 30, 2021 and 2020, in the section 'Other Financial Measures.' That MD&A is available at www.sedar.com under our company profile.
SOURCE: Memex Inc.
Get a daily dose of Raleigh Times news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Raleigh Times.
More InformationCHICAGO, Illinois: United Airlines will begin canceling around 35 daily flights—roughly 10 percent of its schedule—from Newark Liberty...
NEW YORK, New York - U.S. stocks rose sharply Thursday following the announcement by U.S. President Donald Trump of a new trade deal...
WASHINGTON, D.C.: Dozens of major footwear companies, including Nike, Adidas, and Skechers, have signed a letter urging U.S. President...
IRVING, Texas: Kimberly-Clark, the maker of Kleenex tissues and Huggies diapers, announced this week it will invest US$2 billion over...
HONG KONG: Hong Kong's economy grew by 3.1 percent in the first quarter of this year compared to the same period last year, according...
NEW YORK, New York - U.S. stocks advanced on Wednesday while the U.S. dollar made across-the-board gains after the Federal Reserve...
WASHINGTON, D.C.: U.S. Health and Human Services Secretary Robert F. Kennedy Jr. wants to change how vaccines are tested, according...
Clifton Brown Carson Vinson, the Ravens' fifth-round offensive tackle, will always have the distinction of being the only HBCU player...
The Chargers Head Coach joined 'The Rich Eisen Show' last week and talked about his star quarterback Omar Navarro Jim Harbaughhad...
A look back at Baker Mayfields finest games as a member of the Krewe Gabriel Kahaian There was an air of uncertainty as the Tampa...
Kassidy Hill CHARLOTTE It's the most exciting two minutes in sports! The 151st running of the Kentucky Derby is taking place this...
NORTH CAROLINA, 23rd March, 2025 (WAM) -- Wildfires in North Carolina have forced an evacuation in one county as emergency crews work...