Cemtrex, Inc. (CETX) Updates Robust Business Outlook, With Five-year 33% Revenue CAGR and 25 Quarters of Profit
February 23 2017 - 8:45AM
Cemtrex Inc. (Nasdaq: CETX), a world leading industrial and
manufacturing company, provided an update on its robust business
outlook, with the Company having generated a five-year, 33% revenue
CAGR and 25 sequential quarters of profitable operating results.
The Company delivered a net sales increase of 121% to $29.4 million
in the three months ended December 31, 2016, from $13.3 million
during the first three months of fiscal 2016. On the higher revenue
base, the company registered a 103% increase in net income, and 56%
annual advance in EPS for FY 2017 Q1.
By focusing on niche products and services within the
Electronics Manufacturing Services (EMS) and Industrial Products
& Services (IPS) sectors in thriving domestic and emerging
markets, Cemtrex management believes the Company has strong
opportunities across a broad range of sectors, including:
- Automotive
- Wearable
- Chemical
- Power
- Oil & Natural gas
- Medical Devices
- Metals & Minerals
- Steel
- Food
- Construction
- Packaging, and many others.
The Company has also complemented its organic growth with
strategic M&A transactions. Recent accretive acquisitions
include the purchase of a German electronics manufacturing company,
Periscope GmbH, which is focused on EMS primarily for the major
German automotive producers, including Tier 1 suppliers, as well as
for telecommunications, industrial goods, luxury consumer products,
display technology, and other industrial OEMs. Periscope has more
than 35 years of industrial operating experience.
The Company plans to hold it’s regularly schedule conference
call at 11AM ET today. The details of which are:
Date: Thursday, February 23, 2017
Time: 11:00 AM Eastern Time (ET)
Dial-in Number for U.S. & Canadian Callers: 877-407-8293
Dial-in Number for International Callers (Outside of the U.S.
& Canada): 201-689-8349
Highlights of the Company’s Quarter Include:
- Earnings per share for the three months ended December 31, 2016
increased by 56% to $.14 from $.09 for the three months ended
December 31, 2015.
- Net Income for the three months ended December 31, 2016
increased by 103% to $1,405,693 from $692,395 for the three months
ended December 31, 2015.
- Net sales for the three months ended December 31, 2016
increased by 121% to $29,397,257 from $13,314,693 for the three
months ended December 31, 2015.
Cemtrex’s Chairman and CEO, Saagar Govil, commented on the
Company’s outlook, “We are extremely confident about the long term
prospects for our Company. This is reflected in management’s
ownership of Cemtrex shares. We are proud of what the Company has
accomplished in the past twelve months and look forward to
continued growth going forward as we execute our strategy,
bolstered by the funding from our recent capital raise.”
About Cemtrex
Cemtrex, Inc. (NASDAQ:CETX) is a global, diversified industrial
and manufacturing company that provides a wide array of solutions
to meet today's technology challenges and is rapidly growing
through acquisitions. Cemtrex provides: manufacturing services of
advanced custom engineered electronics, industrial maintenance
services, monitoring instruments for industrial processes and
environmental compliance, and equipment for controlling
particulates, hazardous pollutants, and Greenhouse gases used in
carbon trading globally.
www.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.
Investor Relations
Cemtrex, Inc.
Phone: 631-756-9116
investors@cemtrex.com
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