FARMINGDALE, N.Y., July 30, 2014 /PRNewswire/ -- Cemtrex, Inc.
(OTC: CTEI) (www.cemtrex.com) today announced its third quarter
consolidated results of operations for the nine months ended
June 30, 2014.
Third Quarter Highlights:
Net sales for three months ended June 30,
2014 increased by 152%, to $13,453,734
from $5,332,157 in the three months ended June 30, 2013. The Company had net income of
$716,100 for the three-month period
ended June 30, 2014, as compared to a net income
of $7,668 for the three months ended June 30, 2013,
representing an increase of 9240%. Net sales for nine months
ended June 30, 2014 increased by 205%,
to $33,966,686 from $11,138,665 in the nine months ended
June 30, 2013. The Company had net
income of $1,902,267 for the
nine-month period ended June 30, 2014, as compared to a net
income of $231,010 for the nine months ended June 30,
2013, representing an increase of 723%.
Saagar Govil, Chief Executive Officer of Cemtrex, commented,
"This record-setting third quarter for us was due to both organic
growth amongst our existing businesses and our recent acquisition.
Our team is executing at a high level and we are in a great
position for continued high growth. I am extremely confident in our
business plan and our strategy to deliver unparalleled results for
our shareholders."
Cemtrex (OTC: CTEI) is a diversified international company
offering a range of products, systems and solutions in a wide
variety of industries around the world to meet today's
technological challenges. Cemtrex, through its wholly owned
subsidiaries provides electronic manufacturing services of custom
engineered printed circuit board assemblies, emission monitors
& instruments for industrial processes, and environmental
control & air filtration systems for industries &
utilities.
Safe Harbor Statement: This press release contains
forward-looking statements. Actual results could differ materially
from those projected in the forward-looking statements as a result
of a number of risks and uncertainties. Statements made herein are
as of the date of this press release and should not be relied upon
as of any subsequent date.
For further information, please contact:
Cemtrex Inc.
Saagar Govil
Phone: 631-756-9116
Email
SOURCE Cemtrex