Cemtrex Reports First Quarter Results: Sales Increase by 104%
FARMINGDALE, N.Y., Feb. 23, 2011 — Cemtrex Inc. (OTC: CTEI) today announced its first quarter consolidated results of operations for the three months ended December 31, 2010.
First Quarter Highlights:
Revenue increased by 104% to $1,821,634 in first quarter ended December 31, 2010 compared to $891,454 in first quarter ended December 31, 2009.
Net Income was $144,217 in first quarter ended December 31, 2010 compared to a loss of $32,006 in first quarter ended December 31, 2009.
Commenting on the quarterly results, Mr. Arun Govil, President and Chief Executive Officer of the Company, remarked, “We are pleased with this turnaround to profitability, and would like to thank our employees for their efforts, which have resulted in enhanced global marketing efforts, securing large projects in the international marketplace, and overall effective execution.”
“We are confident in our ability to secure more such projects and create sustainable profitability for the long term,” continued Mr. Govil.
Cemtrex Inc. through its subsidiaries is a worldwide market leader in manufacturing and selling the most advanced equipment and systems for stack gas emission monitoring, air filtration and other environmental control products in a wide variety of industries, including power plants, refineries, chemical, steel and cement plants. Cemtrex also markets Green DCV, an innovative energy efficiency solution for high-quality green building applications, through optimizing HVAC control systems.
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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