Industrial and Manufacturing Leader, Cemtrex, Reports Robust Third Quarter Results with Net Income Increasing 26%
July 30, 2015
FARMINGDALE, N.Y., July 30, 2015 — Cemtrex Inc. (CETX) today announced its third quarter consolidated results of operations for the three months ended June 30, 2015.
Third Quarter Highlights:
For the three months ended June 30th:
- Revenue increased 9% or $1,206,544 to $14,660,278 for the period ended June 30, 2015 compared to $13,453,734 for the same period in 2014.
- Net Income increased 26% or $182,727 to $898,827 for the period ended June 30, 2015 compared to $716,100 for the same period in 2014.
- Earnings per share for the three months ended June 30, 2015 and 2014 was $.13 and $.11, respectively, an increase of 18%.
For the nine months ended June 30th:
- Revenue increased 26% or $8,867,321 to $42,834,007 for the period ended June 30, 2015 compared to $33,966,686 for the same period in 2014.
- Net Income increased 25% or $475,005 to $2,337,272 for the period ended June 30, 2015 compared to $1,902,267 for the same period in 2014.
- Earnings per share for the nine months ended June 30th, 2015 and 2014 was $.35 and $.28, respectively, an increase of 25%.
Saagar Govil, Chairman and Chief Executive Officer of Cemtrex, commented, “We are pleased to report a favorable third quarter as we have been able to grow our top and bottom lines due to the great effort of our team. We have experienced strong organic growth this fiscal year and remain optimistic regarding the opportunities for our business. We are on pace for a strong year in fiscal 2015 and believe we are poised for continued growth as we look to capitalize on current market conditions.”
About Cemtrex, Inc.
Cemtrex, Inc. (CETX) is a world leading diversified industrial and manufacturing company that provides a wide array of solutions to meet today’s technology challenges. Cemtrex 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. These forward looking statements are not a guarantee of future performance. These risks and uncertainties are discussed in our filings with the Securities and Exchange Commission, including our annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K.Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. Except as may be required by applicable securities laws, we do not undertake any obligation to revise or update any forward-looking statements contained in this release.
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