Cemtrex Inc (CETX)

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Commenting on the yearly results, Mr. Saagar Govil, Chairman and Chief Executive Officer of the Company remarked, "This past year, was another record year for Cemtrex as our sales increased by 29% due to the full benefit of our previous acquisitions supplemented by increased revenue of our existing business. However, we had higher operating expenses due to (i) certain uncompleted acquisition costs, (ii) higher sales & marketing expenses and (iii) research & development expenses related to our newly launched subsidiary Cemtrex Advanced technologies. We have been investing heavily in all aspects of our business this year which we anticipate will yield positive results for us in the future.”

"Over the past several years we have demonstrated our ability to successfully acquire and integrate companies with complementary and synergistic technologies. We will continue to seek and execute additional strategic acquisitions and focus on expanding our products and services as well as entering into new markets. We will also continue to leverage our engineering and manufacturing expertise and strong customer relationships to develop new cutting-edge technologies and advanced products that solve technological challenges faced by our customers and deliver exceptional value for our shareholders.” continued Mr. Govil.