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Saturday, January 30, 2016
Memex -- Start capturing real-time OEE in 2016 and burn the clip-boards
Wednesday, January 27, 2016
Dutch Cycle/Pedestrian/Car Friendly Intersection -- Could This Be Done With An AI Program Today?
Dennis, Steve, Tim and I had our regular (and spirited :-) lunch today. One of the topics was AI. I saw this video on intersections that are car, pedestrian and bike friendly (having nearly been run over on a number of occasions, this got my attention) and wondered - could a computer have designed this today given only the objective of what is safe and practical? Sort of a modified Turing Test :-)
Dave Edstrom -- Why Attend [MC]2 2016 quote
I was honored to be asked by the MTConnect Institute to provide a quote at the MTConnect: Connecting Manufacturing Conference [MC]2 homepage
Below is my quote (they roll through a few quotes, so I thought I would grab a screen shot).
Sunday, January 24, 2016
Blizzard of 2016 - Ashburn in the Epicenter 38+ Inches
My uncle, Stanley "Tat" Thompson had a great phrase for the blizzard that was projected this past Friday-Sunday -- "The forecast is clear and still, snow clear up to your a$$ and still coming!"
Ashburn was absolutely hammered by the blizzard of 2016. We got over 38" of snow. The BIGGEST blizzard I have ever been in.
Above is me leaving the garage for the FIRST time on Saturday, we still at another foot of snow to come.
Above is me clearing a part of the backyard for the dogs to take care of business.
Above is a photo of a yardstick at 8pm on Saturday night and it kept snowing for another 4 hours.
Above is a photo of the backyard Saturday night January 23rd. That is a 6' fence.
Above are Photon and Nero running around in the area I cleared.
Above is my office. The snow is over 4' high on the screened in porch that is outside my office. The window sill is about a foot above the height of the porch roof.
Above is Julie in the front yard and in the back yard after a day of some compaction and melting on Sunday the 24th.
Above and below is Waxpool Road.
I am not sure if I will ever be in a location where one blizzard dumps more than 38" like the Blizzard of 2016!
Monday, January 18, 2016
Financial Post Article--> How tiny Memex got two industry giants to endorse its manufacturing connectivity platform
This is a fantastic article in the Financial Post on how Memex got one of the largest machine tool companies in the world, Mazak, and the world's largest networking company, Cisco, to come together with this little company in Canada called Memex to create SmartBox.
The author, Rick Spence, absolutely nails it in his article:
How tiny Memex got two industry giants to endorse its manufacturing connectivity platform
The article by Mr. Spence starts out:
"David McPhail, the CEO of Burlington, Ont.-based Memex Inc., loves showing off a new white paper from Mazak, the Japan-based machine-tool giant. Even though its title, “Complete Digital Factory Integration and the IIOT” (Industrial Internet of Things) suggests most people will find it less than a thrilling reading.
But McPhail cares mostly about the cover, and its three company logos. The stylized word mark of Mazak, with 7,800 employees and 10 factories worldwide, appears on the left side; on the right, inspired by the Golden Gate Bridge, sits the logo of Cisco, the San Francisco networking giant with 72,000 employees; and tucked proudly between the two is the logo of tiny Memex, with 39 employees and sales of $2.1 million.
This kind of exposure doesn’t happen by accident. The eight-page brochure promoting a new “Smart Box” that enables digital connectivity between manufacturing tools represents eight years of work by McPhail and his team. Their Merlin communications platform collects operating data from each piece of equipment and displays it in a dashboard that lets manufacturers boost efficiency by monitoring performance, maintenance and inventory in real time."
I also greatly appreciate the shout out by Dave in the article:
"Soon after, Memex went public on the TSX Venture Exchange, largely so it could raise funds and issue options to attract top talent. One of its key wins: chief technology officer Dave Edstrom, who helped develop the open-source standard for machine-to-machine communications as president and chairman of the MTConnect Institute."
This article really explains how Memex is putting a dent in the manufacturing universe!
American Manufacturing Leader Herb Homeyer Introduces IIoT Software to his factory with MERLIN Enterprise Edition
FOR IMMEDIATE RELEASE
Marthasville, MO, USA – January 12, 2016 –
MEMEX Inc. (TSX-V: OEE) is proud to announce that Homeyer Precision
Manufacturing Co. has purchased MERLIN Enterprise Edition for a plant
roll-out of Industrial Internet of Things (IIoT) software in
Marthasville, MO. The sale includes 23 licenses of MERLIN for Overall
Equipment Effectiveness (OEE) and Direct Numerical Control (DNC), plus 9
MERLIN MTConnect hardware adapters for legacy CNC manufacturing
machines.
Homeyer Precision Manufacturing is led by
its President Herb Homeyer, who is also Chairman of the Board of The
National Tooling and Machining Association (NTMA). A passionate business
leader, he founded his company in 1990 with a belief in the power of
American manufacturing — and a commitment to bring a new level of
service to his industry.
“The Industrial Internet of Things, or
IIoT, is a powerful trend, and MERLIN makes IIoT real by equipping
industrial machines with the necessary interfaces for connecting,
collecting, and analyzing manufacturing data in real-time,” said
Homeyer. “Our manufacturing team did their homework before choosing
MERLIN. One of the things that most impressed us is how no machine is
left behind regardless of make or vintage, and MERLIN’s ability to
implement quickly on our factory floor without costly integration
services or associated time-lags. With this real-time visibility, we
look forward to a significant boost in Overall Equipment Effectiveness,
or OEE.”
“We are honored to be implementing MEMEX’s
IIoT technology in the factory of a visionary manufacturing leader like
Herb Homeyer,” said MEMEX CEO David McPhail. “With a correct focus on
achieving business value versus simply counting connected devices, IIoT
represents no less than the next industrial revolution. The previous
three industrial revolutions were mechanization powered by steam engines
in the 1800s, mass production powered by electricity and the assembly
line in the early 1900s, and automation powered by computers in the late
1900s. Ushering in the fourth industrial revolution, IIoT is powered by
the Internet and software applications like MERLIN.”
MEMEX’s flagship software product, MERLIN,
is an IIoT shop-floor-to-top-floor communications platform that provides
manufacturing analytics in real time. Specifically, MERLIN delivers a
10%-50% average productivity increase, and earns 20%-plus profit
improvement based on just a 10% increase in Overall Equipment
Effectiveness (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.
About Homeyer Precision Manufacturing Co.
Homeyer Precision Manufacturing serves many
different industries from aerospace and defense to oil and gas and
energy production. At a time when many high-tech jobs are moving
overseas, the company continues to grow in the USA — delivering
precision parts for some of the world’s most demanding advanced
manufacturing companies for 25 years. Homeyer has achieved this thanks
to its ongoing investments in leading edge manufacturing equipment and
technology, and its commitment to bringing on the most talented,
dedicated, and highly skilled employees for every job.
About MEMEX Inc.
MEMEX is a leading Industrial Internet of
Things (IIoT) technology platform provider that delivers manufacturing
productivity analytics. 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 Overall Equipment Effectiveness (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.
Media Contacts
Homeyer Precision Manufacturing Co.
Gretchen Homeyer, Director of Employee, Customer, & Community Relations
Phone: +1 636-433-2244
Email: ghomeyer@homeyertool.com
Email: ghomeyer@homeyertool.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.
Sunday, January 17, 2016
Discussing Technology With Dr. Vint Cerf
I am a very, very lucky person in life for a thousand different reasons. As my mother has told me, "David, if you are ever given the choice between being good and being lucky, choose lucky every time."
A week ago Saturday I got lucky again. It is very lucky to have the chance for someone like Dave Edstrom to be able to speak with such an industry legend and icon such as Dr. Vint Cerf. On Saturday, I was at Dulles Airport in the United Airlines lounge doing some work on my brand new fully loaded MacBook Pro (which runs at the speed of thought) when I look up and see Dr. Cerf and his wife come in and sit in the table right next to me. My first thought was, don't bother Dr. Cerf, but it is probably ok to say hello to him as you have met him on a number of occasions.
When I said hello, we then ended up speaking for an half an hour on technology with most of the time on Internet of Things (IoT) and MTConnect. Below is Dr. Cerf and me taken by Mrs. Cerf.
We ended up speaking for over a half an hour until he and his wife needed to head to their flight. I told Dr. Cerf the first time I met him in person and it was at Yorktown High School in Virginia. Dr. Cerf was giving a talk on "Interplanetary IP" and I got there early to hopefully get him to sign my book. I walk in the auditorium and Dr. Cerf is getting set up on stage. I am the only one there besides him. Since Sun was a casual place, I was wearing what I wore to work that day, jeans, a Sun shirt and a Java leather jacket. Dr. Cerf sees me and says, "I need you to get up here and move this podium over here, put that table next to it." I set down the book I was hoping Dr. Cerf would sign and did exactly what he asked. After I do it, a guy walks in from the side door and says, "I am the janitor here, do you need anything or are you good?" Dr. Cerf looks at me and says, "if he is the janitor, who are you?" I said, "I am a Chief Technologist from Sun Microsystems Dr. Cerf and I was hoping to get you to sign this networking book." I told Dr. Cerf that story again last Saturday and he just doubled over laughing as I reminded him of the story. We both just laughed out loud together. I told him, "you know Dr. Cerf, I have told that story HUNDREDS of time!". Dr. Cerf said to me, "I bet you have Dave!"
I said I would drop him a copy of my book, MTConnect: To Measure Is To Know, in the mail and wished Dr. Cerf and his wife safe travels.
I am very, very lucky to have had the chance to speak with someone like Dr. Cerf.
Below is a signed copy of the A protocol for packet Network intercommunication by Vinton G.Cerf and Robert E. Kahn in 1974 that I had both Dr. Cerf and Dr. Kahn sign at their Awards Ceremony many years ago and NO it will never be sold. npg has the other copy that I had them both sign.
Friday, January 8, 2016
Thursday, January 7, 2016
Friday, January 1, 2016
The Movie "Concussion" and The Risk of Playing Football
Julie and I saw the movie "Concussion".
It is a great movie with a phenomenal performance by Will Smith. What is amazing is how the NFL ends up looking exactly like big tobacco. Dr. Benett Omalu is a true hero who discovered CTE.
There is a recent example of a 24 year old who's mother had him tested for CTE when he died in a motorcycle accident. He played football from age 7 to 17 and was in stage 1 of CTE.
I am not sure anyone needs to know more than what Coach Mike Ditka said on Real Sports to Bryant Gumbel "if he would want his child to play football?"
“I wouldn’t,” Gumbel says. “Would you?”
“Nope,” Ditka replies. “I wouldn't. And my whole life was football. I think the risk is worse than the reward. I really do.”
Football is a great game to watch, but I have to agree with Mike Ditka, the risk is not worth the reward.
Thursday, December 31, 2015
God Bless Ian Murdock
My oldest son John, who works at Facebook, just asked me if I knew Ian Murdock. I told John that I knew Ian from his days at Sun Microsystems when he was hired to come in to help guide the open Solaris movement. He created the Debian Linux operating system that was named after his wife Debra and himself. I was very saddened to hear of Ian's passing as he was only 42.
As Ian stated at his blog:
"I worked at Sun Microsystems, where I led Project Indiana, the effort designed to lower barriers to adoption of the Solaris operating system that led to the OpenSolaris distribution. OpenSolaris, in turn, led to Solaris 11. (Alas, Oracle discontinued OpenSolaris itself in late 2010.) Later, I ran the developer program and worked on cloud computing."
Ian was brilliant and one of the nicest guys you would ever meet. This is a big loss for all who knew Ian and for the Linux community.
Wednesday, December 30, 2015
What Went Wrong With The Z06 at Motor Trend’s “Driver’s Car” tests at Laguna Seca Raceway
The Z06 has been getting hammered ever since the Motor Trend’s “Driver’s Car” tests at Laguna Seca Raceway.
Tadge Junchter, Corvette Chief Engineer, addressed exactly what happened with Torque News.
I am going to have to start reading Torque News, because I was not aware how much this site digs into important issues.
Below is a snippet on Torque News and the article is well worth reading.
"General Motors has found that in many cases of 2015 Corvette Z06 owners having overheating issues, there is air in the cooling circuit of the intercooler unit. These air pockets can cause the intercooler to function less efficiently, so before sending the car off to Motor Trend for the driver’s car testing, the car was fully serviced and the intercooler’s coolant system was checked to be clear of air. However, when the technician hooked everything back up after completing the standard check-up, he or she did not correctly hook up the wiring harness for the intercooler unit. It was connected well enough that the Corvette Z06 ran fine leading up to the Motor Trend track tests, but it was loose enough that it caused the intercooler system to fail at times.
This caused the intercooler system of the new Corvette Z06 to stop functioning correctly and when intake air temperatures climbed through the roof, the LT4’s PCM cut power to protect the engine from the high temperatures. As a result, power was greatly reduced, leading to the decreased performance and Pobst comparing the most track capable Corvette to the 1962 Ford Falcon.
In short, because a technician didn’t plug in a harness correctly, the Corvette team got an unnecessary black eye via the poor performance of the C7 Z06 in the Motor Trend top driver’s car contest."
Tuesday, December 29, 2015
ITAMCO's Joel Neidig GREAT Presentation at Autodesk Conference in Las Vegas
I have known Joel Neidig of ITAMCO for seven years now and he just continues to impress me with his creative thinking and execution. He is a true thought leader in manufacturing and ITAMCO is doing some amazing things with MTConnect and Google Glass.
Just one example is the industrial pump they made for New Orleans that can pump out an entire olympic size swimming pool in six seconds. You read the right, six seconds! Whey they first powered it on in the Indiana town it caused a brown out :-)
Below is a 13 minute video that shows what a leader is doing in manufacturing. You can tell by the crowd reaction that they were very impressed with Joel's talk!
Quantifying Fear
Thanks to DG for sending this to me when we were discussing how people do not do the math on what they should really fear in life.
The blog is titled:
What Are You Afraid Of?
Published by Steven Novella under Neuroscience
Below is a snippet:
"What We Fear?
Psychologists have identified five basic fears, out of which most other fears are based. They are: fear of death, mutilation, loss of autonomy, separation, and “ego death” which is the fear of humiliation or shame.
Despite the obvious adaptive function of fear, many people fear the wrong things, meaning that their fear and anxiety is not proportional to actual threat. This mismatch is maladaptive, so why is it the case?
For example, people generally fear flying more than driving.
Meanwhile, in the entire history of aviation about 13,000 people have lost their lives, the same amount as die on US roads every 4 months. Another way to look at the probability, which is perhaps a bit more intuitive, is that you would have to fly every day for about 14,000 years before having a greater than 50% chance of crashing. That’s pretty reassuring.
Why do so many people worry about the (statistically) wrong things? There are a couple of reasons."
I really enjoyed this article and here is a final snippet below. If more of us followed this advice, there would be a lot less worry and a lot less power that politicians would have talking nonsense on what people should fear.
"Optimally our fears would be proportional to the actual risk they pose. Actually I think there are three basic factors that should be taken explicitly into account when considering the appropriate level of fear and what to do about it. The first is the probability of the negative even occurring. The second is the consequences of the negative event. The third is the cost (expense, inconvenience, trade-offs) of taking steps to prevent or mitigate the negative event."
Monday, December 28, 2015
Manufacturing's Game Changer - The SmartBox - Securely Connecting Legacy Manufacturing Equipment
Mazak, Cisco and Memex teamed up to create the SmartBox.
The SmartBox addresses the three big problem that manufacturing has today:
- The ability to connect legacy machine tools, sensors, (turn it into MTConnect), do it securely and provide award-winning software to view what's happening on the plant floor.
Memex has hardware and software in the SmartBox. We have our Ax760-MTC and MERLIN (our shop floor monitoring platform). At Memex, we refer the ability to connect to anything on the shop floor as addressing "the last meter" and we are recognized experts in this area. Memex's MERLIN is award winning - Manufacturing Execution Real-time Lean Information Network - is what turns this into actionable intelligence for manufacturing operators, manages and CxOs.
Below is a photo of the SmartBox that appeared on Mark Albert's (Modern Machine Shop Editor) blog on October 30th, 2015. The title of Mark's blog is appropriately titled, "What's So Smart about the SmartBox?" Mark does a great job discussing what makes up the SmartBox.
Mark brings out five key points in his blog about the SmartBox and is well worth reading.
The SmartBox is about the size of a medicine cabinet.
I am just writing about SmartBox now, while it was announced in October, because I wanted to wait until I had time to give more justice to this huge announcement and it was a little closer to the time it would be shipping. I am sure I will be writing more about this exciting product.
Below is our (Memex Inc.) announcement in October on a game changing technology called SmartBox. I highlighted the many key points of the SmartBox.
"The Industrial Internet of Things (IIoT) just got real for manufacturing productivity. Later this month, Mazak Corporation will showcase MERLIN software from MEMEX Inc. (TSX-V: OEE) with hardware from information technology (IT) leader Cisco in what is described as a collaborative platform called SmartBox.
Developed by Mazak, SmartBox will launch
in front of metalworking managers and C-level executives on October
27-29 and November 3-5 at DISCOVER 2015. This Mazak Technology and
Education event takes place at the company’s North American
Manufacturing Headquarters in Florence, KY. Click here for Mazak’s October 15 press release on SmartBox.
Mazak is an industry-first launch
platform for easy and highly secure entrance into the Industrial
Internet of Things. SmartBox builds on MEMEX’s strategic partnership
with Mazak Corp., which earlier this year named MEMEX to its exclusive
Value Inspired Partner (VIP) program.
“The SmartBox collaboration realizes the
IIoT vision on the factory floor,” said MEMEX’s CEO David McPhail.
“We’re thrilled to be participating in this powerful combination with
Mazak and Cisco. As well as MERLIN software, we are contributing our
easy-to-deploy Ax760 hardware adapters to SmartBox. They enable every
machine on the shop floor, old or new, to become web servers that
utilize the MTConnect® manufacturing communication standard.”
Using MTConnect® as its foundation,
SmartBox connectivity of machines and devices allows for enhanced
monitoring and analytical capabilities including advanced cyber security
protection. SmartBox represents a huge leap in digital integration
across manufacturing.
“With the development of SmartBox, Mazak
continues to drive toward its iSMART Factory concept and connecting
today’s shops to the Industrial Internet of Things (IIoT) to achieve
levels of efficiency and productivity never before realized,” said Brian
Papke, President of Mazak. “And while our concept centers around open
connectivity and the Internet, we at Mazak believe it is our moral
obligation to also provide customers the highest level of security
possible with SmartBox. As with all the technology we develop, Mazak has
first implemented SmartBox into our own operations before expecting
customers to wholeheartedly embrace the system.”
The power of SmartBox will be
demonstrated at DISCOVER 2015 in one of the automated cells as part of
Mazak’s own manufacturing operations. Each of the cell’s four machines
are outfitted with a SmartBox and sensor array package, giving event
attendees a firsthand look at the device in action within an actual
manufacturing environment and network.
Mazak developed SmartBox to work with
any machine regardless of make, model or age and will offer it in
various configurations/kits based on the scenarios and challenges in
which the units will be used. The device physically mounts to the side
of machines without having to integrate into a machine’s electrical
cabinet. With several standard input/output connecting ports, SmartBox
lets users quickly and easily connect any standard off-the-shelf sensors
to the system for machine data gathering and condition monitoring. One
SmartBox may service several machine tools along with other associated
manufacturing equipment, depending on the application.
At the heart of SmartBox is Cisco’s
Connected Machines solution, based on the IoT System, designed
specifically for industrial environments and equipped with an MTConnect
software agent. Using a fog computing model, MTConnect runs directly on
the ruggedized Cisco Industrial Ethernet (IE) 4000 switch, providing
MERLIN software’s real-time visibility and insights into data right on
the factory floor.
MEMEX’s MERLIN software installed in
Mazak’s factory allows for monitoring analytics of machines, test stands
and other equipment within the plant. The Cisco hardware is designed to
help prevent any issues with unauthorized access from both directions –
to or from the machines and equipment within a network. SmartBox
satisfies the highly critical security concerns of IT departments when
connecting legacy equipment to a plant’s main network for the purpose of
gathering manufacturing data via the MTConnect protocol.
About the Company
MEMEX Inc. is a leading Industrial
Internet of Things (IIoT) technology platform provider that connects to
any machine and delivers real-time manufacturing productivity metrics.
Industrial strength MERLIN software provides Overall Equipment
Effectiveness (OEE) efficiency metrics in real time, from shop floor to
top floor. MERLIN connects to any machine, old or new, utilizing
MTConnect, other protocols or hardware adapters. The MERLIN magic
delivers a 10% to 50% average productivity increase so that any
manufacturer can achieve world-class standards of excellence. Based on
just a 10% increase in OEE, customers see profit improvements of
20%-plus and payback in less than four months. For more information,
please visit: www.memex-inc.com."
Tuesday, December 22, 2015
Aero Pacific Initiates Plant-Wide Purchase of MERLIN Enterprise Edition Software From MEMEX
"MERLIN's ability to connect every CNC machine on our factory floor despite make or origin utilizing the MTConnect communications standard for industrial equipment is integral to our efforts to further improve our quality and productivity," said Mark Heasley, President at Aero Pacific. "Direct, real-time communication from our production equipment will give us a strategic advantage with our customers. We are deploying MERLIN in all three of our plant facilities and look forward to seeing its impact."
MEMEX's flagship software product, MERLIN, is an industrial-strength shop-floor-to-top-floor communications platform that provides efficiency metrics in real time. Specifically, MERLIN delivers a 10%-50% average productivity increase, and earns 20%-plus profit improvement based on just a 10% increase in Overall Equipment Effectiveness (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 or hardware adapters for older machines.
"After more than 50 years in business, Aero Pacific is a legendary name in California's aerospace and advanced manufacturing industry," said John Rattray, MEMEX's Vice President of Sales. "We are proud to see them join more than 100 leading manufacturers like Mazak, Magellan Aerospace and Milwaukee Tool in recognizing MERLIN's unique ability to realize the promise of the Industrial Internet of Things by connecting the shop floor to the top floor."
About MEMEX Inc.
Memex is a leading Industrial Internet of Things (IIoT) technology platform provider that connects to any machine and delivers real-time manufacturing productivity metrics. 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 Overall Equipment Effectiveness (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 or hardware adapters for older machines. 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.
Media Contact
MEMEX Inc.
John Rattray
VP Sales
Phone: 905-635-1540 ext. 201
Email: Email Contact
MEMEX Inc.
Nathan Rudyk
VP Marketing
Phone: 905-635-1540 ext. 216
Email: Email Contact
Thursday, December 17, 2015
Memex Inc. Releases Fiscal 2015 Year End Results With Record Annual Revenue 115% Higher Than the Previous Year
December 17, 2015 06:30 ET
Memex Inc. Releases Fiscal 2015 Year End Results With Record Annual Revenue 115% Higher Than the Previous Year
BURLINGTON, ON--(Marketwired - Dec 17, 2015) - Memex Inc. ("Memex" or "the Company") (TSX VENTURE: OEE) a global leader in Industrial Internet of Things (IIoT) manufacturing productivity software, today released its financial results and operational highlights for its year ended September 30, 2015.
Financial Highlights for the Year Ended September 30, 2015:
- Memex generated record revenue of $2.1 million, $1.1 million or 115% higher than the prior year.
- Memex achieved record gross margin of $1.3 million, 200% higher than the prior year.
- Unearned revenue of $582 thousand closed the year at a record high, $129 thousand or 28.5% higher than the previous high at September 30th 2014.
- The Company showed a $2.4 million net and comprehensive loss for the year equating to a $0.030 loss per share. This compares with a $2.1 million net and comprehensive loss and a $0.040 loss per share in 2014.
- Memex qualified for up to $800 thousand in Government of Canada funding through FedDev Ontario's Investing in Business Innovation ("IBI") initiative.
Financial Highlights for the Quarter Ended September 30, 2015:
- Memex generated quarterly revenue of $575 thousand, a $373 thousand or 179% increase when compared to Q4-2014, and $124 thousand more than Q3-2015.
- The quarterly loss from operations of $600 thousand was down $153 thousand from $753 thousand for the same period a year ago, and $266 thousand less than the $866 thousand reported Q3-2015.
Operational Highlights for the Year:
- Memex sold its flagship software product, MERLIN, to 32 new manufacturing enterprise customers in Canada, Mexico, the United States and Australia including Lynch Fluid Controls Inc., Koss Aerospace Ltd., Industrial B&S de Mexico SA de CV, FM Industries Inc., ANCA Pty Ltd., The Oilgear Company and Milwaukee Electric Tool Corporation.
- In August 2015 Memex was invited by Mazak Corporation, a global machine tool leader, to join its exclusive Value Inspired Partner (VIP) program. Memex is the only such partner offering software in its category.
- Memex acquired the intellectual property and other related assets of Dostek Incorporated and engaged its President, Doug Struthers, in the role of Merlin Direct Numerical Control (DNC) Architect to bolster Merlin's DNC product capabilities.
- Commencing January 2015 Memex focused its own Partner Channel program on relationships and future business potential with three of its largest partners: Mazak, Okuma, and Mazak Optonics.
Management Commentary: Memex's President & CEO David McPhail stated, "We are very proud of our accomplishments during fiscal 2015, and our team is focused on achieving even greater growth. More than 90% of manufacturers today run their factories without IIoT software and our job is to turn them on to MERLIN's well-documented return on investment. I commend each and every one of our employees for their contributions to this record year. And all of us want to thank our new and existing manufacturing customers for placing their trust in us as they take advantage of MERLIN software's productivity promise."
Memex's Vice President of Sales John Rattray stated, "We have expanded MERLIN's global customer footprint, continued investment in the development of our direct sales and partner channels, and achieved success with key partners. As well as customer expansion, we have immense potential within our existing install base. All of this progress is reflected in the numbers reported. The Industrial Internet of Things is a desirable concept to many advanced manufacturing firms. To MERLIN customers however, it's an achievable, real-time reality with fast payback."
About Memex Inc.
Memex is a leading Industrial Internet of Things (IIoT) technology platform provider that connects to any machine and delivers real-time manufacturing productivity metrics. 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 Overall Equipment Effectiveness (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 or hardware adapters for older machines. For more information, please visit: www.MemexOEE.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.
CONTACT INFORMATION
- For investor inquiries please contact:
David McPhail
President & CEO
519-993-1114
Email Contact
Ed Crymble
Chief Financial Officer
905-635-1540 ext. 110
Email Contact
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