SOURCE: Memex Automation

Memex Automation

February 26, 2015 06:00 ET

Astrix Surpasses $500,000 in Sales for Its First Quarter of Fiscal 2015

BURLINGTON, ON--(Marketwired - Feb 26, 2015) - Astrix Networks Inc. ("Astrix"), operating as Memex Automation ("Memex") (TSX VENTURE: OEE), the global leader of manufacturing M2M productivity software, released its financial results and operational highlights for the quarter ended December 31, 2014.

For the first time in its history, Astrix surpassed the half-million dollar mark in quarterly sales with a total of $501,178 for the latest period, ended December 31, 2014. This compares with total sales of $207,000 in the prior quarter, and $157,000 in the same quarter of the prior year, increases of 142% and 219% respectively. The company also saw its highest quarterly gross margin since inception at $334,000.

Company President, David McPhail, provides comment on Astrix achieving this milestone. "We are pleased with the increase in the customer adoption rate of our technology, reflected in the Q1-2015 sales numbers. Revenues include new MERLIN customers as well as additional follow on revenue from our existing MERLIN customers. Total revenue for the quarter just completed is the highest Astrix has experienced thus far."

About Memex Automation:

Astrix Networks Inc., (TSX VENTURE: OEE), provides award-winning software to measure Machine to Machine (M2M) productivity and Overall Equipment Effectiveness ("OEE") in real-time. MERLIN (Manufacturing Enterprise Real-time Lean Information Network) generates OEE metrics for each machine in every plant. MERLIN is used by leading machine tool companies as a complete shop floor communications platform. For more information, please visit: www.memex.ca.

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

Contact Information

  • Media Contacts

    Leanne Rattray
    Communications Specialist
    Phone: 905-635-1540 ext. 103
    Email: Email Contact


    David McPhail
    CEO
    Phone: 519-993-1114
    Email: Email Contact