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MEMEX - Measuring Manufacturing Excellence Logo

Memex Inc. Releases Q2 – 2016 : Results Investment in Sales Infrastructure Paying Off

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Burlington, ON, Canada – May 16, 2016 – Memex Inc. (“Memex” or the “Company”) (TSX-V: OEE) a global leader in Industrial Internet of Things (IIoT) manufacturing productivity software, today released its financial results and operational highlights for its second quarter of fiscal 2016 which ended March 31, 2016. All results are reported in Canadian dollars.

Financial Highlights for the Second Quarter Ended March 31, 2016:

·         Memex generated quarterly revenue of $571 thousand, 42% or $169 thousand, higher than the same period in the prior year, and 7% lower than Q1-2016.

·         Memex 53.4% gross margin for the quarter ($305 thousand in gross profit), was down 3.3% from the same quarter a year ago and 7.7% from Q1-2016. A higher hardware to software sales mix in the current quarter accounts for the decline.

·         Unearned revenue of $536 thousand closed the quarter up $54 thousand from December 31, 2016’s close and was $46 thousand off its highest level of $582 thousand at September 30, 2015.

·         Bookings[i] for the quarter were $833 thousand, down 5% from the prior quarter, but up 50% or $276 thousand from Q4-2015.

·         The Company showed a $991 thousand net and comprehensive loss for the quarter equating to a $0.01 loss per share.  This compares with a $512 thousand net and comprehensive loss in the same quarter last year, and a $0.007 loss per share.

·         At the end of the Q2 the Company had more than $3.0 million in current assets including more than $2.2 million in cash and $2.1 million in working capital.

 

Q2 Fiscal 2016 and Subsequent Operational Highlights:

  • In February, Memex received a substantial follow-on order from Kuss Filtration Inc. for 43 MERLIN licences as part of a multi-plant roll-out in the US, China, and Brazil. Memex also generated 5 new customer orders, and more than ten follow on orders from existing customers in the quarter.
  • Memex’s CEO and CTO were recognized by Smart Manufacturing Magazine as two of the top 30 advanced manufacturing visionaries.
  • In April, Memex launched MERLIN OPTime, a free downloadable real-time dashboard for manufacturing analytics.
  • In April, Sun Hydraulics Corp. placed an 89 machine follow-on order for MERLIN MES Enterprise Edition Software, after an 11 machine initial phase.

 

Management Commentary:

Memex’s President & CEO David McPhail said, “We continue to see strong interest in MERLIN with both follow-on orders from existing customers and new customers buying our solutions. Our investment into sales and marketing is paying off with substantial revenue gains over prior periods, and no reason not to expect the trend to continue.”

 

About Memex Inc.

Memex is a leading Industrial Internet of Things (IIoT) technology platform provider that delivers real-time manufacturing productivity analytics. Industrial strength MERLIN software provides Overall Equipment Effectiveness (OEE) efficiency metrics in real time, from shop-floor-to-top-floor. Specifically, MERLIN delivers a 10%-50% average productivity increase, and earns 20%-plus profit improvement based on just a 10% increase in OEE. It consistently achieves payback in less than four months with an Internal Rate of Return (IRR) greater than 300%, and connects to any machine, old or new, utilizing native MTConnect, other protocols or MERLIN hardware adapters for older machines. For more information, please visit: www.MemexOEE.com

 

For investor inquiries please contact:

 

Ed Crymble, Chief Financial Officer

905-635-1540 ext. 110

ed.crymble@MemexOEE.com

 

 David McPhail, President & CEO

519-993-1114

david.mcphail@MemexOEE.com

 

Sean Peasgood, Investor Relations

416-565-2801

sean@sophiccapital.com

 

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] This non-IFRS financial measure is identified, defined and reconciled to the closest IFRS measure, revenue, within our Management’s Discussion and Analysis for the three and six month periods ended March 31, 2016 and 2015, in the section “Other Financial Measures.”  That MD&A is available at www.sedar.com under our company profile.

MEMEX - Measuring Manufacturing Excellence Logo

MEMEX Inc. Leadership Recognized Amongst Top 30 Advanced Manufacturing Visionaries

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BURLINGTON, ON–(Marketwired – May 12, 2016) – MEMEX Inc. (TSX VENTURE: OEE) is excited and proud to announce that Society of Manufacturing Engineers (SME), in its inaugural issue of Smart Manufacturing magazine, has recognized David McPhail, CEO of MEMEX Inc., and Dave Edstrom, CTO of MEMEX Inc., amongst the top 30 Advanced Manufacturing Visionaries.

According to Smart Manufacturing Magazine, the top 30 Advanced Manufacturing Visionaries list is a representation of who’s who in the smart manufacturing world. They all have made significant contribution towards developing tools and techniques that have made the Industrial Revolution 4.0 a reality.

Smart Manufacturing magazine recognizes David McPhail, CEO of MEMEX Inc. for his relentless work towards creating solutions that help North American manufacturers solve tangible issues such as efficiency and sustainability of manufacturing operations. Adding further to the delight of MEMEX Inc., Smart Manufacturing magazine also applauds the work of Dave Edstrom, CTO of MEMEX Inc., in the field of developing MTConnect® an open, royalty-free standard to get information from machinery applications to enable increased productivity.

“Both Dave and I are really honored to be a part of this esteemed list, not just as individuals but also as developers of MERLIN, the Industrial Internet of Things (IIoT) communication platform that promises manufacturing excellence,” says David McPhail, CEO of MEMEX Inc. “Visionaries create the window into the future but it is the strength and dedication of their team that turns those ideas in reality. MEMEX Inc. as a team is in the business of taking our visions and turning them into revolutionary IIoT products.”

About MEMEX Inc.

MEMEX Inc., the developer of MERLIN, an award winning IIoT technology platform that delivers tangible increases in manufacturing productivity in Real-Time, is the global leader in machine to machine connectivity solutions. Committed to its mission of “Successfully transforming factories of today into factories of the future” and encouraged by the rapid adoption and success of MERLIN, MEMEX is relentlessly pursuing the development of increasingly innovative solutions suitable in the IIoT era. MEMEX envisions converting every machine into a node on the corporate network, thereby, creating visibility from shop-floor-to-top-floor. MEMEX, with its deep commitment towards machine connectivity, offers solutions that are focused on finding hidden capacity by measuring and managing Real-Time data. This empowers MEMEX’s customers to effectively quantify and manage OEE, reduce costs and incorporate strategies for continuous lean improvement.

Contact Information
Media Contact
MEMEX Inc.:
David McPhail, CEO
Phone: 519-993-1114
Rashi Rathore, Communication Coordinator
Phone: 905-635-3040 ext 103
MEMEX - Measuring Manufacturing Excellence Logo

Another Win for MEMEX — Sun Hydraulics Corp. Adopts MERLIN

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SARASOTA, FL–(Marketwired – May 13, 2016) – MEMEX Inc. (TSX VENTURE: OEE) is proud to announce that Sun Hydraulics Corp. (NASDAQ: SNHY) has issued a Purchase Order for an additional 89 of their machines to be equipped with MERLIN MES Enterprise Edition software.

Sun Hydraulics arrived at this decision after experiencing the optimization opportunities offered by MERLIN during a pilot in which MERLIN was installed on 11 of their machines. The 100 machine multi-plant roll-out is phase 1 of a larger IIoT initiative to ensure efficiency and profitability of operations at Sun Hydraulics Corp.

“Recognition of the value that MERLIN creates by industry leaders like Sun Hydraulics Corp. pushes MEMEX towards developing more innovative solutions that successfully transform factories of today into factories of the future,” says David McPhail, CEO MEMEX.

About Sun Hydraulics Corp.

Sun Hydraulics is a leading designer and manufacturer of high-performance screw-in hydraulic cartridge valves and manifolds that control force, speed and motion as integral components in fluid power systems.

From its inception in 1970 and a public company since 1997, Sun sells its products globally, primarily through independent distributors, to diverse markets of mobile and industrial equipment and machinery manufacturers. Sun has been committed to being the leader in its field. They offer products that advance customers’ businesses, improving the safety and performance of the machinery in which they are used.

About MEMEX Inc.

MEMEX Inc., the developer of MERLIN, an award winning IIoT technology platform that delivers tangible increases in manufacturing productivity in Real-Time, is the global leader in machine to machine connectivity solutions. Committed to its mission of “Successfully transforming factories of today into factories of the future” and encouraged by the rapid adoption and success of MERLIN, MEMEX is relentlessly pursuing the development of increasingly innovative solutions suitable in the IIoT era. MEMEX envisions converting every machine into a node on the corporate network, thereby, creating visibility from shop-floor-to-top-floor. MEMEX, with its deep commitment towards machine connectivity, offers solutions that are focused on finding hidden capacity by measuring and managing Real-Time data. This empowers MEMEX’s customers to effectively quantify and manage OEE, reduce costs and incorporate strategies for continuous lean improvement.

Contact Information
Media Contact
MEMEX Inc.:
David McPhail, CEO
Phone: 519-993-1114
Rashi Rathore, Communication Coordinator
Phone: 905-635-3040 ext 103
MEMEX - Real-Time Data Visualization

Memex Inc. (OEE) has Products Revolutionizing the Industrial Internet of Things

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Stephen L Kanaval |

Overall Equipment Effectiveness is maybe not a phrase you hear that often, but if you manage a shop or a work site, you know exactly what it means. It means that your machines on your floor are running at peak performance. Memex Inc. (OEE) understands this so well that they made it their stock symbol. So, how does Memex do this? The company has created a manufacturing execution system called MERLIN OEE. The MERLIN OEE system is connected directly to the machines on the floor and offers live results and a constantly updating dashboard of metrics. Memex’s MERLIN OEE is all about a company using the machines that they have and making them better by finding the hidden areas of profit loss.

The creation of this unique system has allowed Memex to have four straight quarters of revenue growth. Meme produced a gross margin of $375,000, which was 27% higher than the same quarter in 2015 (cited from press release here). The industrial internet of all things is coming, and if you read Equities.com frequently you know that there are disruptive products out there. Memex is one of these companies that understands how to bridge the last twenty years with the next fifty years. The MERLIN OEE takes older machines and adapts them with software and shows areas where the machine can be improved. These analytics can save companies a lot of money. As a matter of fact here is what Memex says about that:

MERLIN delivers a 10%-50% average productivity increase, and earns 20%-plus profit improvement based on just a 10% increase in OEE. It consistently achieves payback in less than four months with an Internal Rate of Return (IRR) greater than 300%, and connects to any machine, old or new, utilizing native MTConnect, other protocols or MERLIN hardware adapters for older machines

Memex has important alliances with Cisco and Mazak. In addition, the MERLIN OEE has been proven in plants like Milwaukee Tool, Magellan Aerospace, Aero Pacific, and many more. And just think, there are over 16 million Computerized Numerical Control (CNC) machine tools installed world wide, what do you think Memex could do for all those companies with its machine monitoring software?

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

MEMEX - Measure Real-Time OEE

MEMEX Launches MERLIN OPTime — a FREE Real-Time Dashboard for Manufacturing Analytics

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BURLINGTON, ON–(Marketwired – Apr 26, 2016) – MEMEX Inc. (TSX VENTURE: OEE) announces the launch of MERLIN OPTime, a free Real-Time dashboard application for MTConnect® enabled devices. Connecting MERLIN OPTime to MTConnect® enabled machines on the shop floor will allow manufacturers to receive Real-Time manufacturing analytics on an informative, dynamic dashboard. With OEE becoming more critical, MERLIN OPTime offers manufacturers an opportunity to take their first step towards IIoT and smart manufacturing, seeding the market and subsequently driving demand for more feature rich paid versions of MERLIN, all in due course.
MERLIN OPTime is easy to install and use software that reads MTConnect® tags along with offering users the capability to add and display multiple devices/agents, and configure an event to reflect if a machine is running or not. The information rich dashboard also empowers users to assess machine utilization on an 8-hour rolling trend chart that can be viewed on any device such as a smartphone. MERLIN OPTime allows users to:

Assess Machine State: Provides dynamic color feedback on machines uptime and downtime states.
Measure Machine Utilization: Enables both current and trend machine utilization.
Identify Bottlenecks: Enables users the ability to quickly identify machine problems and potential bottlenecks by providing the current state of MTConnect® enabled devices.
Recognize Optimization Opportunities: Analysis of the utilization trends provide an objective comparison of operation time which can bring to light optimization opportunities that exist to boost productivity.

“With MERLIN OPTime, users can experience the potential of data-driven manufacturing with no initial monetary investment,” said Dave Edstrom, CTO at MEMEX Inc., “I believe MERLIN OPTime will dramatically shorten the time that manufacturers will spend learning to appreciate the importance of Real-Time shop-floor information, as well as the tremendous benefits of MTConnect® — the interconnectivity standard.”

About MEMEX

MEMEX Inc., the developer of MERLIN, an award winning IIoT technology platform that delivers tangible increases in manufacturing productivity in Real-Time, is the global leader in machine to machine connectivity solutions. Committed to its mission of “Successfully transforming factories of today into factories of the future” and encouraged by the rapid adoption and success of MERLIN, MEMEX is relentlessly pursuing the development of increasingly innovative solutions suitable in the IIoT era. MEMEX envisions converting every machine into a node on the corporate network, thereby, creating visibility from shop-floor-to-top-floor. MEMEX, with its deep commitment towards machine connectivity, offers solutions that are focused on finding hidden capacity by measuring and managing Real-Time data. This empowers MEMEX’s customers to effectively quantify and manage OEE, reduce costs and incorporate strategies for continuous lean improvement.

CONTACT INFORMATION
Media Contact:
David McPhail
CEO
Phone: 519-993-1114
Email: david.mcphail@MemexOEE.com

Rashi Rathore
Communication Coordinator
Phone: 905-635-3040 ext 103
Email: Rashi.Rathore@MemexOEE.com