Memex reports CAD919,000 in revenue in Q3 2016 fiscal year

Memex Inc. (TSX: OEE) has reported CAD919 thousand in revenue in its third quarter of fiscal 2016, which ended June 30, 2016, the company said.

Revenues are 104 percent higher than the same period in the prior year.

Third quarter revenue was 61 percent higher than the second quarter 2016. Year-to-date sales of CAD2.1 million exceeded the CAD2.0 million level.

Gross margin of 72.5 percent was up from 50.4 percent reported in the same quarter a year ago.

Bookings were CAD895 thousand, up 7.0 percent from the prior quarter, with year-to-date bookings exceeding CAD2.6 million.

The company showed a CAD447 thousand net and comprehensive loss for the quarter equating to a CAD0.004 loss per share. This compares with a CAD880 thousand net and comprehensive loss in the same quarter last year, and a CAD0.011 loss per share.

At June 30, 2016 the company had CAD2.7 million in current assets including more than CAD1.5 million in cash and CAD.

Memex Inc. provides manufacturing productivity software in the industrial Internet of Things (IIoT).