FARMINGDALE, N.Y., Nov. 18, 2014 /PRNewswire/ -- Cemtrex Inc.
(OTC: CTEI) today announced its fiscal year 2014 consolidated
results of operations for the 12 months ended September 30,
2014.
Fiscal year 2014 Highlights:
- Revenue increased by 249% to $47,653,114 for the 12
months ended in September 30, 2014 compared to
$13,673,531 for the same period
in 2013.
- Revenue increased 57% to $8,354,726 for the three months ended
in September 30, 2014 compared to $5,332,157 for the same period in
2013.
- Net Income was up 834% to $2,693,994, equaling $.07 per share, in the 12-month period
ended September 30, 2013 compared to an income of
$288,497 in the same period in
2013.
Commenting on the yearly results, Mr. Saagar Govil, Chairman and
Chief Executive Officer of the Company remarked, "This has been a
tremendous year for us as we have experienced unprecedented growth
and also completed a significant acquisition. We are pleased with
the results of fiscal 2014 and look forward to continue taking the
company to greater heights in 2015.
"We have decided not to proceed further with the pending
acquisition of the waste water technology company announced in June
since it ultimately did not pass our diligence parameters. However
we are exploring several alternative acquisition opportunities that
we shall provide further details on as they become more viable,"
continued Mr. Govil.
The company will be holding its Annual Shareholder's meeting on
December 15, 2014.
About Cemtrex, Inc.
Cemtrex, Inc. (CTEI) is a diversified technology company that
provides a wide array of solutions to meet today's industrial
challenges. Cemtrex, through its wholly owned subsidiaries,
provides electronic manufacturing services of custom engineered
printed circuit board assemblies, emission monitors and instruments
for industrial processes, and environmental control and air
filtration systems for industries and utilities.
corporate.cemtrex.com
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:
Saagar Govil
Cemtrex, Inc.
Phone: 631-756-9116
SOURCE Cemtrex