Burlington, ON, Canada – May 14, 2015 – Astrix Networks Inc. (“Astrix”), operating as Memex Automation (“Memex”) (TSX-V: OEE), the global leader of manufacturing M2M productivity software, released its financial results and operational highlights for its second quarter ended March 31, 2015.
Astrix generated record revenue of $1.03 million for the six months ended March 31, 2015, compared to $576,000 for the six-month period ended March 31, 2014. This represents a 79% increase year over year.
Gross profit for the six-months ended March 31, 2015 totaled $651,000 compared to $368,000 for the six-months ended March 31, 2014. This represents an increase of $283,000 or 77% from the prior year period.
Net loss for the six-months ended March 31, 2015 was $973,000 as the company continued building out its sales force and latest product development. This compares to a loss of $651,000 for the six-months ended March 31, 2014.
Highlights from Q2 2015
- Reported revenue of $490,000, a 21.5% year over year increase.
- Orders (excluding component sales) received in the quarter totaled $486,000, an increase of 94% year over year.
- 15 new customer wins, 4 through partner distribution channels, in the quarter vs. 5 customer wins in the same period last year.
- First complete plant installation win in Mexico at Industrial B&S.
- Received approval for up to $800,000 of interest free government financing through FedDev Ontario (Investing in Business Innovation Program) just after quarter end. Proceeds will be used to fund and commercialize the Company’s latest version of MERLIN.
Company President, David McPhail, provided comment on Astrix continuing to build on its record revenue levels. “We are thrilled with the volume of orders that keep coming in, and the continuing customer adoption of our MERLIN shop floor communication platform strategy. Orders received since quarter-end are also very encouraging.”
About Memex Automation:
Memex Automation provides award winning software to measure Machine to Machine (M2M) productivity and Overall Equipment Effectiveness (“OEE”) in real-time. MERLIN (Manufacturing Enterprise Real-time Lean Information Network) generates OEE metrics for each machine in every plant. MERLIN is used by leading machine tool companies as a complete shop floor communications platform. For more information, please visit: www.memex.ca.
Leanne Rattray, Communications Specialist
Phone: 905-635-1540 ext. 103
David McPhail, CEO
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.
To see the full press release, please click here.