Farmingdale, NY, Feb. 23, 2017 (GLOBE NEWSWIRE) -- 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:
- Oil & Natural gas
- Medical Devices
- Metals & Minerals
- 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.”
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.
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 firstname.lastname@example.org