Q3-2019 financial reportPlease read the MD&A at:
https://www.sedar.com/CheckCode.do The followings are quoted from the MD&A:
SIGNIFICANT HIGHLIGHTS:
- Memex reported $2.32 million in revenue for the nine-months ended June 30, 2019, a 31% increase over YTD2018, and the highest nine-months sales level reported thus far; Q3-2019 revenue of $916 thousand was a 41% increase from the same quarter a year ago.
- Bookings for the first nine months of 2019 of $2.98 million was up 28% from the same period a year ago and represents the best nine-month start to a fiscal year; Q3-2019’s bookings of $1.09 million was the highest quarterly bookings thus far.
- The Company finished the quarter with $1.57 million in project backlog up $467 thousand from the beginning of the fiscal year and down $286 thousand from the beginning of the quarter.
- Cash consumed from operations in the first nine months of 2019 (before changes in non-cash working capital balances) was $751 thousand, down $1.18 million, or 61% from the same period a year ago, and cash consumed in Q3-2019 (also before changes in non-cash WC items) of $184 thousand was 70% lower than the same period in the prior year and 31%, or $81 thousand, less than cash consumed in Q2-2019.
- The Company finalized a collection of new customer orders from a Tier 1 Automotive supplier during the quarter exceeding $300 thousand in total. Although successful in a variety of manufacturing sectors, this order represents its largest foray into the Auto sector thus far.
- Still working through customer leads generated through fiscal 2018, the Company has reduced its presence at regional tradeshows and events this year (evidenced by the $172 thousand decline in YTD Advertising and marketing spending). To continue its market presence an assortment of lower cost on-line marketing campaigns and thought leadership events were undertaken. Memex is, however, excited about potential prospects from the Canadian Manufacturing Trade Show (“CMTS”), which it will be attending in September.
Please read the financial reports by yourself for details.
Please be noted that this is NOT any investment advice. Do your own DD.