What a banner year it is proving to be for Burlington, Ontario-based Memex Inc. (TSX-Venture:OEE). The firm, touting itself as a “global leader in Industrial Internet of Things manufacturing productivity software,” came out with quarterly financial numbers that sent its shares soaring.
Thursday’s news release had Memex reporting revenue of $916,000 for the three-month period ending June 30, as compared to $650,000 in the same period a year ago (a 41% increase);
Bookings for the period totaled $1.094 million, a new quarterly high, versus $1.039 million in the same period a year ago, a 5% increase.
Mind you, some red ink flowed, as net and comprehensive loss for the period was $254,000 ($0.002 per share), compared to $687,000 ($0.005 per share) for the same period a year ago.
Memex trumpeted $501,000 in working capital, including $967,000 in cash as of the Canada Day weekend
Said Memex CEO David McPhail. “I am pleased that our focus on re-tooling our sales process has paid off and yielded these results. Looking ahead we have good visibility on a growing funnel of new business opportunities and anticipate several new orders to close in the coming quarters.”
Shares in Memex gained half a cent, or 16.7%, to 3.5 cents, on volume of 1.1 million shares.
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