Memex Releases Q2-2017 Financial Results

Memex (TSXV:OEE) has announced its second quarter financial and operational highlights for its 2017 fiscal year, ended March 31, 2017./
As quoted in the press release:

Summary Financial Highlights for the Second Quarter Ended March 31, 2017:

• Memex reported revenue of $348 thousand, 39% lower than the same quarter a year ago;
• Gross margin of 32.1% was down from 53.5% reported the same quarter a year ago — (excluding Amortization and Client Services labour, which was up 1.42% in the current quarter over a year ago, gross margin percentage on variable expenses is down only 4.2% in the current quarter over a year ago).
• Bookingsⁱ for the quarter were $573 thousand, down 31% from the same quarter a year ago;
• The Company reported a net and comprehensive loss of $1.26 million for the quarter, equating to a $0.011 loss per share. This compares with a $991 thousand net and comprehensive loss in Q2 last year, and a $0.010 loss per share.
• At March 31, 2017, the Company had $3.12 million in current assets including $2.23 million in cash (down from $3.00 million last quarter) and $1.97 million in working capital.
• The final two weeks of the quarter brought in more than $400 thousand in new and follow on orders.

Click here to read the full press release.