CEM expects higher sales and earnings for 1995; announces technology-transfer pact with Canadian Agency.CHARLOTTE, N.C.--(BUSINESS WIRE)--Nov. 10, 1994--Speaking at the annual meeting of shareholders today, Michael J. Collins, president and chief executive officer, said that CEM CEM contagious equine metritis. CEM selective medium chocolate agar made with Eugon agar and 5% horse blood; used to cultivate Taylorella equigenitalis. Corporation (Nasdaq/NM:CEMX) expects to report higher sales and earnings for the fiscal year ending June 30, 1995. Collins additionally announced that CEM has reached an agreement to share exclusive rights with Hewlett-Packard for a new Microwave Assisted Process (MAP(TM)) developed by Dr. Jocelyn Pare of Environment Canada Environment Canada (EC), legally incorporated as the Department of the Environment under the Department of the Environment Act ( R.S., 1985, c. E-10 ), is the department of the Government of Canada with responsibility for coordinating environmental policies and -- the Canadian Federal Department of the Environment (the EC). In fiscal 1994 CEM reported net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight of $29.0 million and net income of $2.8 million, or $0.70 per share. Last month the company reported record first quarter results which included a gain in net sales to $7.1 million vs. $6.7 million and earnings per share of $0.16 vs $0.13 in the year-earlier period. ``We expect to maintain the positive momentum reflected in the results for the first quarter over the balance of the current fiscal year,'' remarked Collins. ``One of our primary goals for fiscal 1995 is to build on the leadership CEM has established in the area of Microwave Assisted Chemistry. The agreement we have signed with the EC includes a license to integrate the MAP(TM) process into applications for our MES-1000(TM) extraction system. Similar to an earlier agreement which the EC signed with Hewlett-Packard, the license announced today covers the use of the MAP(TM) process on a worldwide basis. As part of the agreement, CEM will furnish fur·nish tr.v. fur·nished, fur·nish·ing, fur·nish·es 1. To equip with what is needed, especially to provide furniture for. 2. the EC with analytical analytical, analytic pertaining to or emanating from analysis. analytical control control of confounding by analysis of the results of a trial or test. instruments and work jointly to advance this technology. The royalties paid will be reinvested by the EC into additional research and development in this area. ``When combined with CEM's capabilities in Microwave Assisted Chemistry(TM), MAP(TM) offers laboratories throughout the world a significantly improved means of preparing samples for testing,'' Collins continued. ``Through the selective heating of the chemical components of a substance, the new process expands the applications we will be able to develop in the area of organic analysis. Key advantages to users of microwave extraction include much less time required to prepare samples and a sharp reduction in the amount of solvent solvent, constituent of a solution that acts as a dissolving agent. In solutions of solids or gases in a liquid, the liquid is the solvent. In all other solutions (i.e. necessary to extract chemicals from complex material such as soil, food and polymers. We are confident that these proven economic and environmental advantages will ultimately lead to the broad acceptance and use of this new technology.'' CEM manufactures microwave-based instrumentation for testing and analysis. The company's products are used worldwide in the general analytical laboratory market and in many manufacturing industries manufacturing industries npl → industrias fpl manufactureras manufacturing industries npl → industries fpl de transformation , including chemical and food processing Food processing is the set of methods and techniques used to transform raw ingredients into food for consumption by humans or animals. The food processing industry utilises these processes. . CONTACT: CEM Corporation, Charlotte Michael J. Collins, 704/821-7015 |
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