Cemtrex Receives New Orders Totaling Over $15 Million
January 5, 2017
FARMINGDALE, N.Y., Jan. 5, 2017 — Cemtrex (CETX), a world leading industrial and manufacturing solutions company announced today that the company has received new orders in excess of $15 Million in the previous month across its Industrial Products and Services Group and Electronics Manufacturing Services Group.
The Company received approximately $10.5 million in orders for its Electronics Manufacturing Services Group for products related to innovative automotive products, medical devices, and automation technology. Cemtrex also received approximately $4.5 million in orders in its Industrial Products and Services Group in the packaging, industrial manufacturers, aggregate, power, oil, and construction industries. The Company expects to ship these orders over the next twelve months.
Cemtrex’s Chairman and CEO, Saagar Govil, commented, “We are excited by the continued demand for our technologies and services as we reached a new record in monthly bookings and anticipate this trend to continue during this fiscal year based on the number of inquiries at hand. As a result we remain cautiously optimistic about the growth prospects for our Company and look to continue executing on our strategies.”
Cemtrex, Inc. (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 contracting 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. This release may contain Non-GAAP financial information and is not calculated or presented in accordance with US GAAP. The Company believes that the presentation of non-GAAP financial measures provides useful information to management and investors regarding underlying trends in its consolidated financial condition and results of operations. The Company’s management regularly uses these supplemental non-GAAP financial measures internally to understand, manage, and evaluate the Company’s business and make operating decisions.