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Chinese internet regulators said they have hit operators of three of the country’s biggest social-media platforms [including BABA] with the maximum fine allowable under a new cybersecurity law for hosting fake news, pornography and other forms of banned content.
Cemtrex's Chairman and CEO, Saagar Govil, commented, "We are excited about the momentum in our business and the opportunities we see on the horizon for acquisitions to augment our organic growth. In addition to the proposed Key Tronic Corporation transaction that we announced earlier this month, we have several acquisitions lined up over the next three-to-six months that we believe could yield up to $250 million in additional revenues with new marquee customers, significant intellectual property and enhance our competitive advantages over the long term."
"Considering the acquisition strategy we have planned, the Board has decided that paying a stock dividend is prudent at this time. This decision will allow us to utilize our cash to help fund growth that will provide returns for all our shareholders," concluded Govil.
I'm not happy about the stock rather than cash dividend either, but they're in the middle of an acquisition.
Closed at the HOD!
Oh no! CETX up 9% this morning to 3.48.
The humanity!
Preferred shares to give out a dividend in the form of more shares at the end of September.
Say, has CETX received a WELLS NOTICE yet from the SEC regarding potential securities fraud issues?
Cemtrex Highlights Value of Recently Announced Exchange Offer for Key Tronic Shareholders
CETX's Reply to Key Tronic
Cemtrex Sees FY17 Sales $118-$122M vs $116.9M Est.
Cemtrex Sees FY17 Sales $118-$122M vs $116.9M Est.
Oh no!
Cemtrex is truly an amazing company!
I guess that's what's called a hostile takeover.
Up 3.5% this morning to 3.25.
Oh no!
I've been in and out of it (mostly in) since the 90's too, also at the rec of Gary. I'm not positive, but I think MKRS was one of the recommendations that was mailed out when Gary and Chris were actually mailing out their picks. That may have been during the days of Prodigy.
I sold all during the spike of 2013 but started buying back again at .08 shortly thereafter. I've been adding during this last year's rise so my avg is not at about .22, and I'm pretty heavily weighted in MKRS (and SINO too).
Aside from a brief spike in 2000, MKRS hasn't traded for over a dollar since 1997.
10 yr chart
That's what makes horse races.
I remember last year in early 2016 when CETX was lumbering around in the low 2's, every now and then it would take a dip into the 1's, once as low as about 1.60. Those were great buying opps.
CETX is a long-term hold. Longs will be greatly rewarded in 2018-19, imo.
I believe that anyone who is holding CETX but doesn't believe it's a good growth stock should probably sell.
That was a mere spike. Look at that chart. Considering the short attack CETX is suffering, it's fairly priced now and increased profits over time will take it much higher.
We've been flat, not selling off, for the last six months. CETX is right where it was following the article by Ricardo Pearson, the short. It was overbought before the article and corrected, but it's maintained its strategy of growth since then and it's showing solid support at current levels.
CETX Six Month Chart
Buy on dips.
We have a solid base at 3. If we get down that low, I'll be adding, and that would be a great place for shorts to cover. This is a strong, long-term growth company and patience will pay off handsomely here.
Fleecing? This was two cents a year ago.
If there actually were any preliminary inquiries from the SEC Department of Enforcement.
Off by a penny? Call in the SEC!
“We maintained strong topline growth in the third quarter of fiscal 2017, with total revenue increasing 13% to $27.8 million, while remaining profitable. Our ability to drive steady revenue growth is evident when looking out over the past couple of years. Our revenue has increased from $42 million to $56 million to $86 million for the nine month periods ended June 30, 2015, 2016 and 2017, respectively,” stated Saagar Govil, Chairman and CEO of Cemtrex. “We are focused on continuing to grow our business through the acquisition of new, high quality customers, as well as expanding organically through our existing customers. In April 2017, we received a record number of new incoming orders for a single month, totaling over $21 million. Included in these orders is a $15 million, three year agreement with one of our existing customers, which is the single largest order we have ever received.”
“In addition, we announced the establishment of our new subsidiary, Cemtrex Advanced Technologies along with its first development product, an advanced ‘smart desk.’ It is an exciting time at Cemtrex as we leverage our deep experience in electronics development and manufacturing and focus on bringing to market proprietary technologies that we believe are revolutionary. Our initial products, in line with the innovative ‘smart desk’, will embrace the concept of bringing the workspace environment up to speed with technological advances.”
“Cemtrex is strategically positioned to continue growth organically and through acquisitions. With $13.2 million in cash and cash equivalents we are consistently evaluating growth opportunities to advance our businesses. This is a pivotal time for the company as we see a strong pipeline in new and existing customers as well as new product development under our subsidiary. We continue to scale the business with shareholder value as a core focus on going,” concluded Mr. Govil.
Fiscal 2017 Third Quarter Business Highlights and Financial Highlights
Total Revenue for Q3 2017 increased 13% to $27.8 million, compared to $24.7 million for Q3 2016. This increase was primarily due to the acquisition of Periscope on May 31, 2016.
Industrial Products & Services (IPS) Revenue for Q3 2017 increased 8% to $13.5 million, compared to $12.5 million for Q3 2016. The increase was primarily due to increased shipment of goods and execution of projects.
Electronics Manufacturing Services (EMS) Revenue for Q3 2017 increased by 17% to $14.3 million, compared to $12.2 million for Q3 2016. This increase was primarily due to the acquisition of Periscope, an electronics manufacturing solutions business.
Gross Margin for Q3 2017 was 36%, compared to 33% for Q3 2016.
Operating Margin for Q3 2017 decreased to 5.1% compared to 6.9% for Q3 2016. This is attributable to an increase in operating expenses of 31% to $8.5 million, compared to $6.5 million for Q3 2016, which includes an increase of sales, marketing and professional service costs for the 2017 period.
Net Income for Q3 2017 was $1.2 million or $0.11 per share, compared to $1.4 million, or $0.16 per share for Q3 2016. This decrease was due to increase sales and marketing expenses in the third quarter, and loss on disposal of assets.
Nine Month 2017 Financial Highlights
Total Revenue for the nine months ended June 30, 2017 increased 54% to $87.7 million, compared to $56.9 million for the same period in 2017. This increase was primarily due to the acquisitions of Advanced Industrial Services (AIS) and Periscope.
IPS Revenue for the nine months ended June 30, 2017 increased 27% to $42.0 million, compared to $33.2 million for the same period in 2016. The increase was primarily due to increased shipment of goods and execution of projects.
EMS Revenue for the nine months ended June 30, 2017 increased 93% to $45.7 million, compared to $23.7 for the same period in 2016. The primary reason for increased sales was due to the acquisition of Periscope.
Gross Margin for the nine months ended June 30, 2017 was 33%, compared to 31% for the same period in 2016.
Operating Margin for the nine months ended June 30, 2017 decreased to 4.3% from 5.4% in the same period of 2016. This increase was primarily due to an increase of sales, marketing and professional service costs for the 2017 period. Operating expenses increased 68% to $24.8 million, compared to $14.8 million for the same period in 2016 due to the increase from the acquisitions of AIS and Periscope.
Net Income for the nine months ended June 30, 2017 increased 2% to $3.0 million, or $0.26 per share, compared to $2.9 million, or $0.36 per share for the same period in 2016. This increase was primarily due to the acquisitions of AIS and Periscope.
Balance Sheet as of June 30, 2017:
Cash and Cash equivalents were $13.2 million or $1.28 per share.
Book value was $3.49 per share.
Conference Call and Webcast Information
Cemtrex will host a conference call with the investment community on Thursday, August 14th at 11:00 a.m. Eastern Time featuring remarks by Saagar Govil, Chairman and CEO of Cemtrex. The dial-in numbers for the conference call are 877-524-8416 (Toll-Free) or 412-902-1028 (Toll). Please call at least five minutes before the scheduled start time.
For interested individuals unable to join the conference call, a replay of the call will be available through August 28, 2017, at 877-660-6853 (Toll-Free) or 201-612-7415 (Toll). Participants must use the following code to access the replay of the call: 13667842.
Cemtrex will also offer a live and archived webcast of the conference call, accessible from the “Investor Relations” section of the Company’s website at http://www.cemtrex.com/investor-relations/. The online archive of the webcast will be available for 30 days following the call.
AmpliTech Group Enters into Joint Venture Agreement with Cyber Security Company; AMPG files 10Q for 2Q 2017
BOHEMIA, NY--(Marketwired - Aug 14, 2017) - Amplitech Group, Inc. ( OTCQB : AMPG ) a leader in state-of-the-art RF Low Noise Amplifiers (LNA) and Power Amplifiers (PA) for the Domestic and International, SATCOM, Space, and Military markets, today announced it has entered into a Joint Venture Agreement with Trusted Networks, Inc. ("TN"), a NYC headquartered, private company with facilities in Colorado Springs and Nashua, NH. TN is headed by CEO Robert S. Pollock and a team of 6 other accomplished PhDs and MBAs, each with over 30 years' experience in the design of NSA/DoD level 6+ cyber security protocols for servers and routers. The focus of the joint venture is to develop an affordable mixed signal chipset that can be used at server/router level as well as in mobile PDA applications to provide secure and encrypted communication with the goal of preventing hacking and cyber-attacks. The JV will take advantage of AmpliTech's industry leadership and experience in RF/Microwave LNA technology and TN's Cyber-security Protocol technology to eliminate the widespread occurrence of corporate and individual cyber-attacks. Current software solutions alone cannot offer Level 6+ standards protection. Solutions from large security firms like BAE systems can cost up to $1 million per server and are not generally available for individuals or smaller companies. The chipset (Microwave + digital hardware) coupled with proprietary software can provide the level of security needed for all levels of communication at a target price of approximately $100 each. TN estimates the market to be $46 billion alone, not counting government and corporate accounts, in the wake of worldwide corporate, government, and personal hacking incidents. CEO Fawad Maqbool stated, "We are excited to be part of what we think is a great partnership that brings together the best of both worlds to attack a problem that has found its way into mainstream cyber technology and our everyday way of life. As the use of information technology increases exponentially, the need for the type of solution this joint venture will provide is readily apparent. I am confident that it will position AMPG for increased revenue and market leadership in the not so distant future."
The Company also filed their 10Q for 2Q 2017. Although the company had a net loss for the first half of 2017, it has a positive outlook for the rest of the year. There are some large R&D projects under way with large OEMs that are expected to convert into orders once completed within the next few months. Overall sales for the six months ended June 30, 2017, has increased by $108,859 or 17% when compared to the same period last year. The loss was primarily due to the reduced order flow in the first half (as was the case last year) and an increase in G&A and R&D expenses as the Company invested in additional marketing and R&D efforts to expand product lines and increase distribution channels. The Company expanded its engineering and project management to support current R&D projects and smaller orders that are expected to lead to much larger ones in the near future. In the second quarter of 2017, the Company presented at the Planet MicroCap Conference in Las Vegas with positive feedback from prospective investors. The Company also exhibited at the IMS 2017 Microwave Symposium (IMS2017) in June in Honolulu, Hawaii. This was a success and the Company expects to receive more orders later this year as a result. CFO Louisa Sanfratello commented, "We anticipate increased revenue and a return on investment based upon our R&D efforts for our existing and prospective new customers. The Company's R&D is focused on rapidly growing sectors ranging from Life Sciences to Quantum Computing so we are confident that our diversified product line will open up significant opportunities for us."
About Amplitech Group, Inc:
AmpliTech Group, Inc. designs, develops, and manufactures custom and standard state-of-the-art RF (Low Noise Amplifiers (LNA) and Power Amplifiers (PA) for the Domestic and International, SATCOM, Space, and Military markets. These designs cover the frequency range from 50 kHz to 110 GHz. AmpliTech also provides consulting services to help with any microwave components or systems design problems. Our steady growth over the past 15+ years has come about because we can provide complex, custom solutions for nearly ANY custom requirements that are presented us. In addition, we have the best assemblers, wires, and technicians in the industry and can provide contract assembly of customers' own designs. Click here to view AmpliTech video. Website: www.AmpliTechInc.com
NEWS
Why do you suppose shorts are covering before earnings?
Shorts probably should have covered in the last dip.
First hour -- Up 6.5% on nice volume.
And so has Trump.
N Korea is estimated to have between 10-16 nuclear weapons while the US is estimated to have over 15,000 nuclear weapons.
What do you think the North Koreans think they would accomplish by sending one of their nukes to Guam other than their own total devastation?
And it wouldn't necessitate the US to have a blustering jerkoff like DJT as president to respond accordingly.
This is going nowhere near 375 (actually laughing out loud) but I plan to buy more on a dip too.
That's the same kind of bluster, bluff and bravado that Kim Jong-un and Donald Trump both engage in.
North Korea does not want to be obliterated and they are well aware that that is what would happen to them, regardless of who was president of the US, if they were to attack the US, its territories, or South Korea.
But by all means, conservatives, be afraid and give up your freedoms to our would be totalitarian president.
Short interest on CETX is down over 25% between 5/31 and 7/31.
Cogent market analysis!
Oh no, in seven months backlog on car lots have gone back to George W Bush levels.
Good times in high school today!
There seems to be some interest in the company today.
What's your prognosis, OBrien?
Perhaps there are no new orders, he wrote unhappily.