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MEMEX - Measuring Manufacturing Excellence Logo

Recent surge leads to more than $380 Thousand in purchase orders for MEMEX

BURLINGTON, ON–(Marketwired – Jun 27, 2017) – Memex Inc. (“MEMEX”) (TSX VENTURE: OEE) announced today that in the past six weeks (ending June 21, 2017) it has received more than $380 thousand of purchase orders. These are an aggregate of net-new orders and follow-on orders from existing customers.

“We believe these stronger recent results are an indication that the U.S. manufacturing technology market is beginning to strengthen, and that MEMEX’s efforts to revitalize its sales process and strategy are proving effective,” said MEMEX president and CEO David McPhail. “Existing customers are seeing significant improvements in the operating efficiency of the machines already connected in real time to the corporate network via MERLIN. These customers are now extending those benefits to the rest of their equipment to maximize both productivity and profits.”

Beyond existing customers expanding their deployments with MERLIN, new customers are also recognizing MEMEX as the vendor of choice with proven solutions that work on industry standards to help them remotely manage and monitor their equipment in real time and gain a better perspective of exactly what is happening on their shop floors.

“We are starting not only to see a recovery in US manufacturing spending, but we also feel more confident in the recent changes at MEMEX, including hiring a new U.S.-based vice president of sales, allowing a key executive to focus on business development and marketing, and reinvigorating the sales force,” said Mr. McPhail. “I believe the recent net-new orders are just the beginning. MEMEX has been working diligently to secure more sales and bring on additional new customers.”

About MEMEX

MEMEX was founded with a vision to improve the way automated machinery and production equipment work and connect on the factory floor. Since then, MEMEX has proved itself a pioneer in IIoT time and again. The company is committed to its mission of “successfully transforming factories of today into factories of the future,” and envisions converting every machine into a node on the corporate network, creating visibility from shop-floor-to-top-floor. MEMEX is the developer of MERLIN, an award-winning IIoT technology platform that delivers tangible increases in manufacturing productivity in Real Time. MEMEX’s software and hardware IIoT solutions enable customers to achieve tangible IIoT-centric business outcomes. The MERLIN software suite and connectivity products have enabled manufacturers to achieve upwards of a 50% increase in productivity and a 20%-plus increase in profits, on average. Additionally, customers have secured payback in less than four months, which equates to an Internal Rate of Return greater than 300%.

REQUIRED CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING INFORMATION

Certain statements contained in this news release, including statements related to MEMEX’s belief that the recent net-new orders are just the beginning and that MEMEX has been working diligently to secure more sales and bring on additional new customers, constitute “forward-looking information” within the meaning of applicable Canadian securities legislation. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. MEMEX believes the expectations reflected in such forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and should not be unduly relied upon. In particular, no assurance can be given that the current trend in net-new orders will continue or that MEMEX will secure more sales or bring on additional customers. Information on additional risks related to MEMEX’s business is included in our management’s discussion and analysis of our financial results for the year ended September 30, 2016 which may be accessed through the SEDAR website (www.sedar.com). The forward-looking statements contained in this news release are expressly qualified by this cautionary statement. These forward-looking statements and information speak only as of the date of this news release. MEMEX does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

For investor inquiries please contact:

 

Rashi Rathore, Marketing Manager

Phone: 905-635-3040 ext. 103

Email: Rashi.Rathore@MemexOEE.com

 

David McPhail, President & CEO

519-993-1114

david.mcphail@MemexOEE.com

 

 

Sean Peasgood, Investor Relations

416-565-2805

sean@sophiccapital.com

 

MEMEX - Measuring Manufacturing Excellence Logo

MEMEX Restructures Sales Management to Capitalize on U.S. Manufacturing Recovery

BURLINGTON, ON–(Marketwired – Jun 26, 2017) – MEMEX Inc. (“MEMEX” or the “Company”) (TSX VENTURE: OEE) today announced management changes to capitalize on the growing number of sales opportunities precipitating from the rebound in U.S. manufacturing.

MEMEX has hired John Artman as the Company’s Vice President of Sales. Mr. Artman will leverage his past senior management sales experience to mine MEMEX’s existing U.S. pipeline and develop new markets and growth opportunities. John Rattray, has transitioned from Vice President of Sales to Senior Vice-President of Business Development and Marketing.

“MEMEX weathered an extended period of business uncertainty stemming from the vague capital cost allowance and NAFTA policies of both U.S. presidential election candidates. Data from the Association of Manufacturing Technology (AMT) now indicates that U.S. manufacturers are comfortable with the new political reality and are investing in capital infrastructure again,” said MEMEX President and CEO David McPhail. “Given this, we felt it was best to refocus our human capital. I’m very pleased that John Rattray has gladly accepted the challenge to lead our marketing team. I’m also delighted that an industry sales veteran like John Artman saw the potential presented by MERLIN TEMPUS to optimize American manufacturing, leading him to join the Company.”

Mr. Artman, who is based in Sellersburg, Indiana, is an electrical engineer who has held senior management and sales positions at numerous U.S.-based automation and manufacturing technology companies. Most recently, he was Vice President of Sales, Business Development and Marketing at Simplimatic Automation. Before that, he held senior positions at Bishop-Wisecarver Group, Jacobs Automation, Bodine Assembly & Test Systems and Wright Industries. Mr. Artman will continue to work from his office in Indiana.

“The value proposition presented by MERLIN TEMPUS surpasses all other industry solutions,” said Mr. Artman. “MEMEX is a growing company, and industry adoption of MERLIN is a testament to the Company’s strong leadership, vision and teams. I am starting to see increased confidence from U.S. manufacturers who seem ready to make purchasing decisions to grow revenues, reduce costs, and increase profitability. I’m convinced that that MEMEX’s MERLIN software platform will become a key component for manufacturers to achieve these goals.”

Mr. Rattray added, “With MEMEX’s growth and the indications of a U.S. manufacturing recovery, it makes sense to expand our sales management into the U.S. Adding John to the team and giving him the responsibility to lead our sales growth allows me to focus more intently on business development, brand development, and marketing.”

Mr. McPhail also noted that these management changes better position the Company to meet the growing demand for Data-Driven Manufacturing solutions — a demand he expects to increase as more manufacturers add new technology and equipment to their facilities. To optimize the performance of the additional machines, McPhail says Data-Driven Manufacturing — the process which automates machine monitoring and management — will be required to ensure the equipment is being used in the most efficient manner possible.

U.S. Manufacturing Recovery

AMT-compiled data indicates that manufacturers are again spending on new equipment. Manufacturing technology orders totalled $324.46 million during the month of April 2017, a 12.3% year-over-year increase from April 2016. From January 1, 2017 through April 30, 2017, orders were up 2.1% compared to the same period in 2016. AMT also found business confidence among U.S. manufacturers was at its highest level in 13 years.

About MEMEX

MEMEX was founded with a vision to improve the way automated machine and production equipment work and connect on the factory floor. Since then, MEMEX has proved itself a pioneer in IIoT time and again. The company is committed to its mission of “successfully transforming factories of today into factories of the future” and envisions converting every machine into a node on the corporate network, creating visibility from shop-floor-to-top-floor. MEMEX is the developer of MERLIN, an award-winning IIoT technology platform that delivers tangible increases in manufacturing productivity in Real Time. MEMEX’s software and hardware IIoT solutions enable customers to achieve tangible IIoT-centric business outcomes. The MERLIN software suite and connectivity products have enabled manufacturers to achieve upwards of a 50% increase in productivity and a 20%-plus increase in profits, on average. Additionally, customers have secured payback in less than four months, which equates to an Internal Rate of Return greater than 300%. For more information, please visit: www.MemexOEE.com.

 

For investor inquiries please contact:

 

Rashi Rathore, Marketing Manager

Phone: 905-635-3040 ext. 103

Email: Rashi.Rathore@MemexOEE.com

 

David McPhail, President & CEO

519-993-1114

david.mcphail@MemexOEE.com

 

 

Sean Peasgood, Investor Relations

416-565-2805

sean@sophiccapital.com

 

MEMEX - Measuring Manufacturing Excellence Logo

Memex Inc. Releases Q2-2017 Financial Results

Strong End to the Quarter as Manufacturing Spending Begins to Recover

BURLINGTON, ON–(Marketwired – May 29, 2017) –  Memex Inc. (“Memex” or the “Company”) (TSX VENTURE: OEE), a global leader in Industrial Internet of Things (IIoT) manufacturing productivity software, today released its second quarter financial and operational highlights for its 2017 fiscal year, which ended March 31, 2017. All results are reported in Canadian dollars.

Summary Financial Highlights for the Second Quarter Ended March 31, 2017:

  • Memex reported revenue of $348 thousand, 39% lower than the same quarter a year ago;
  • Gross margin of 32.1% was down from 53.5% reported the same quarter a year ago — (excluding Amortization and Client Services labour, which was up 1.42% in the current quarter over a year ago, gross margin percentage on variable expenses is down only 4.2% in the current quarter over a year ago).
  • Bookingsi for the quarter were $573 thousand, down 31% from the same quarter a year ago;
  • The Company reported a net and comprehensive loss of $1.26 million for the quarter, equating to a $0.011 loss per share. This compares with a $991 thousand net and comprehensive loss in Q2 last year, and a $0.010 loss per share.
  • At March 31, 2017, the Company had $3.12 million in current assets including $2.23 million in cash (down from $3.00 million last quarter) and $1.97 million in working capital.
  • The final two weeks of the quarter brought in more than $400 thousand in new and follow on orders.

Management Commentary:

“During the first six-months, Memex and the broader manufacturing industry saw decreased investment due to uncertainty concerning trade both before and after the U.S. Presidential election,” said David McPhail, President and CEO of Memex. “The American Manufacturing Association (AMT) echoed our observations, but AMT anticipates that a manufacturing resurgence should occur in the Spring. We have seen recent signs of this resurgence in our sales leads and orders. Given our strong cash balance and low burn rate, we are well positioned to weather this temporary market disturbance.”

Selected Financial Information for Q2 2017
Three-months period ended
March 31
Six-months period ended
March 31
(Canadian dollars – in thousands except per share and margin%) 2017 2016 Change 2017 2016 Change
Revenue 348 571 39% 853 1,185 – 28%
Bookingsi 573 833 31% 965 1,710 – 44%
Gross margin % 32.1 53.5 40% 46.7 57.4 – 19%
Operating expenses 1,362 1,338 + 2% 2,435 2,384 + 2%
Cash utilized in operating activities1 1,172 976 + 20% 1,904 1,620 + 18%
Net and comprehensive loss for the period (1,236) (991) + 27% (2,025) (1,632) + 24%
Basic and diluted loss per share – period (0.011) (0.010) + 10% (0.018) (0.017) – 7%
1. Before changes in non-cash working capital balances.
As at
(Canadian dollars – in thousands except WC ratio)
March 31, 2017 September 30, 2016
Cash on hand 2,232 2,899
Current assets 3,124 4,156
Total assets 3,587 4,639
Current liabilities 1,150 1,047
Working capital* 1,974 3,109
Working capital ratio** 2,72 to 1 3.97 to 1
Backlogii 997 848
* Working Capital = current assets – current liabilities
** Working Capital ratio = current assets / current liabilities

Summary Financial Highlights for the Six-months Ended March 31, 2017:

  • Memex reported revenue of $853 thousand, 28% lower than the same period a year ago;
  • Gross margin of 46.7% was down from 57.4% reported the same period a year ago – – (excluding Amortization and Client Services labour, which is down 2.75% in the current YTD over a year ago, GM% on variable expenses is down only 1.8% YTD over a year ago).;
  • Bookings(1) for the period were $965 thousand, down 44% from the same period a year ago;
  • The Company reported a net and comprehensive loss of $2.03 million for the period, equating to a $0.018 loss per share. This compares with a $1.63 million net and comprehensive loss in the prior year period, and a $0.017 loss per share

Q2 2017 and Subsequent Operational Highlights:

  • Announced MERLIN Tempus First Customer Ship (FCS) during the quarter;
  • In March, successful marketing efforts at AeroDef 2017 (Fort Worth, TX) and American Manufacturing Summit (Chicago, IL) generated more than 300 quality sales leads; and
  • The final two weeks of the quarter brought in more than $400 thousand in new and follow on orders.

About Memex Inc.

MEMEX was founded with a vision to improve the way automated machine and production equipment work and connect on the factory floor. Since then MEMEX has proved itself a pioneer in IIoT time and again. The company is committed to its mission of “successfully transforming factories of today into factories of the future” and envisions converting every machine into a node on the corporate network, creating visibility from shop-floor-to-top-floor. MEMEX is the developer of MERLIN, an award-winning IIoT technology platform that delivers tangible increases in manufacturing productivity in Real-Time. MEMEX’s software and hardware IIoT solution enable customers to achieve tangible IIoT-centric business outcomes. The MERLIN software suite and connectivity products have enabled manufacturers to achieve upwards of a 50% increase in productivity and a 20%-plus increase in profit, on average. Additionally, customers have secured payback in less than four months, which equates to an Internal Rate of Return greater than 300 per cent.

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 March 31, 2017 and 2016, in the section “Other Financial Measures.”

For investor inquiries please contact:

 

Ed Crymble, Chief Financial Officer

905-331-4343

ed.crymble@MemexOEE.com

 

David McPhail, President & CEO

519-993-1114

david.mcphail@MemexOEE.com

 

 

Sean Peasgood, Investor Relations

416-565-2805

sean@sophiccapital.com

MEMEX - Data Base and Reports in a Dashboard

Memex Inc. Presenting at the IMPACT Manufacturing and EASTEC Summits

BURLINGTON, ON–(Marketwired – May 4, 2017) – Memex Inc. (“MEMEX”) (TSX VENTURE: OEE) today announced that President and CEO David McPhail will present the Company’s smart manufacturing vision at IMPACT Manufacturing Spring Summit on May 7 through 9 in Las Vegas, Nevada at 11.00 am on May 8th 2017. Additionally, MEMEX will be participating at EASTEC, May 16 – 18 in West Springfield, Massachusetts and David McPhail will be presenting at the Smart Manufacturing Hub.

“The IMPACT Manufacturing and EASTEC summits are dedicated to helping manufacturers increase productivity,” said Mr. McPhail. “These forums are perfect to showcase MERLIN Tempus smart manufacturing features to an audience focused on optimizing operations. We look forward to returning to these conferences, sharing our best practices, and showing manufacturers how MERLIN can unlock value hidden within their facilities.”

About the IMPACT Manufacturing Spring Summit

Hosted twice a year, IMPACT Manufacturing Summit is the leading executive level conference for the manufacturing industry in the U.S. The program delivers a unique mixture of: strategic presentations and panels from industry thought leaders, real world customer led case studies, targeted research meetings with leading solution providers, and engaging networking opportunities with high profile industry peers.

About EASTEC

EASTEC, New England’s premier manufacturing exposition, returns May 16 through 18, 2017. With more than 500 exhibitors, complimentary conference sessions, industry keynotes, and much more, EASTEC is an event dedicated to keeping northeast manufacturers competitive. It’s where manufacturing ideas, processes and products that make an impact in the northeast region, are highlighted through exhibits, education and networking events. The event offers a unique chance to connect with resources that can solve your company’s most pressing problems, improve productivity and increase profits. It’s clear why so many business owners, engineers, designers, production managers and purchasing executives attend EASTEC to keep their operations current. EASTEC brings human ingenuity and manufacturing brilliance together.

About MEMEX

MEMEX was founded with a vision to improve the way automated machine and production equipment work and connect on the factory floor. Since then MEMEX has proved itself a pioneer in IIoT time and again. The company is committed to its mission of “successfully transforming factories of today into factories of the future” and envisions converting every machine into a node on the corporate network, creating visibility from shop-floor-to-top-floor. MEMEX is the developer of MERLIN, an award-winning IIoT technology platform that delivers tangible increases in manufacturing productivity in Real-Time. MEMEX’s software and hardware IIoT solution enable customers to achieve tangible IIoT-centric business outcomes. The MERLIN software suite and connectivity products has enabled manufacturers to achieve upwards of a 50% increase in productivity and a 20%-plus increase in profit, on average. Additionally, customers have secured payback in less than four months, which equates to an Internal Rate of Return greater than 300 per cent.

Media Contact

Memex Inc.:

David McPhail, CEO

Phone: 519-993-1114

Email: david.mcphail@MemexOEE.com

 

Rashi Rathore, Marketing Manager

Phone: 905-635-3040 ext. 103

Email: Rashi.Rathore@MemexOEE.com

 

Investor Relations

Sean Peasgood, Investor Relations

Phone: 416-565-2805

Email: Sean@SophicCapital.com

 

MEMEX - Mazak Northeast 2017

MEMEX @ MAZAK NORTHEAST

Join us at this technology + education event to discover new ways to enhance productivity and versatility on your shop floor. As a registered attendee, you can explore the largest presentation of Mazak CNC machine tools in the region and experience the latest advancements in milling, turning, 5-axis and Multi-Tasking technologies through real-world metalworking demonstrations on a complete line-up of Mazak machines. As Mazak’s Value Inspired Partner many of their new machines tools will feature MERLIN, an award winning IIoT communication platform by MEMEX.

Date: MAY 16 – 17, 2017

Time: 9:00 AM – 7:00 PM (ET)

Venue:

NORTHEAST TECHNOLOGY CENTER

700 OLD COUNTY CIRCLE

WINDSOR LOCKS, CT 06096

Click here to learn more.