Farmingdale, NY – February 14, 2018 – Cemtrex Inc. (Nasdaq: CETX, CETXP, CETXW), a world leading multi-industry technology company reported its first quarter consolidated results of operations for the three months ended December 31, 2017.
“We delivered strong topline growth with a 10% increase in total revenue to $32.4 million for the first quarter of fiscal year 2018. This growth was driven by stronger demand in our electronics manufacturing solutions (EMS) segment which offset a decrease in revenues in our industrial products and services (IPS) segment. We are seeing an overall decline industry wide in the environmental technology market globally.”
“Fortunately, we have been maintaining a diversification strategy for the last several years and have been focused on investing in our technology related businesses. We have begun an R&D program that is yielding proprietary technology both in hardware and software. We are in the process of developing compelling virtual and augmented reality software applications and content for multiple markets which we expect to release this year.”
“We are also extremely excited to unveil our “smart desk” this May as the Company releases its first consumer electronics product leveraging our deep experiences in electronics development and manufacturing. We have an exciting roadmap with multiple products in the pipeline as the company evolves its capabilities to capture more value for its shareholders,” concluded Saagar Govil, Chairman and CEO of Cemtrex.
Q1 FY 2018 Business Highlights and Financial Highlights
Cemtrex, Inc. (NASDAQ:CETX) is a world leading multi-industry technology company that provides a wide array of solutions to meet today’s consumer, commercial, and industrial challenges. Cemtrex provides manufacturing services of advanced custom engineered electronics, extensive industrial services, integrated hardware and software solutions, monitoring instruments for industrial processes and environmental compliance, and systems for controlling particulates and other regulated pollutants. The Company also develops its own proprietary IoT and wearable devices.
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:
Investor Relations
Cemtrex, Inc.
Phone: 631-756-9116
investors@cemtrex.com