Cemtrex Continues Streak of High Growth With Sales in Q1 Rising More Than 50%
February 18, 2015
FARMINGDALE, N.Y., Feb. 17, 2015 — Cemtrex Inc. (CTEI) today announced its first quarter consolidated results of operations for the three months ended December 31, 2014.
First Quarter Highlights:
Net sales for three months ended December 31, 2014 increased by 54%, to $13,842,789 from $8,964,380 for the three months ended December 31, 2013. The Company had net profit of $396,872, for the three month period ended December 31, 2014 as compared to a net income of $416,552 for the three month ended December 31, 2013, representing a decrease of 5%.
Saagar Govil, Chief Executive Officer of Cemtrex, commented, “We have started this new fiscal year on the right foot with considerable top line growth, particularly from our environmental business. We are continuing to see strong demand in emerging markets for our products and we are investing in our business to take advantage of this growing opportunity. Our backlog in our electronics manufacturing and services business continues to increase so we are bullish over the long term for our prospects there as well.”
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 & 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.
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