Astrix Networks Inc. Reports Record Revenue for the Six-Month Period Ended March 31, 2015
By Marketwired News
By Marketwired News
BURLINGTON, ON–(Marketwired – May 14, 2015) –Astrix Networks Inc. (“Astrix”), operating as Memex Automation (“Memex”) (
Astrix generated record revenue of $1.03 million for the six months ended March 31, 2015, compared to $576,000 for the six-month period ended March 31, 2014. This represents a 79% increase year over year.
Gross profit for the six-months ended March 31, 2015 totaled $651,000 compared to $368,000 for the six-months ended March 31, 2014. This represents an increase of $283,000 or 77% from the prior year period.
Net loss for the six-months ended March 31, 2015 was $973,000 as the company continued building out its sales force and latest product development. This compares to a loss of $651,000 for the six-months ended March 31, 2014.
Highlights from Q2 2015
- Reported revenue of $490,000, a 21.5% year over year increase.
- Orders (excluding component sales) received in the quarter totaled $486,000, an increase of 94% year over year.
- 15 new customer wins, 4 through partner distribution channels, in the quarter vs. 5 customer wins in the same period last year.
- First complete plant installation win in Mexico at Industrial B&S.
- Received approval for up to $800,000 of interest free government financing through FedDev Ontario (Investing in Business Innovation Program) just after quarter end. Proceeds will be used to fund and commercialize the Company’s latest version of MERLIN.
Company President, David McPhail, provided comment on Astrix continuing to build on its record revenue levels. “We are thrilled with the volume of orders that keep coming in, and the continuing customer adoption of our MERLIN shop floor communication platform strategy. Orders received since quarter-end are also very encouraging.”
About Memex Automation
Astrix Networks Inc., operating as Memex Automation (
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Phone: 905-635-1540 ext. 103