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.
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