Wednesday, October 26, 2016 9:16:31 AM
Cemtrex Announces Preliminary Fiscal Year 2016 Results
FARMINGDALE, N.Y., Oct. 26, 2016 /PRNewswire/ -- Cemtrex Inc. (CETX), a world-leading industrial and manufacturing solutions company, today announced preliminary financial results for the fiscal year ended September 30, 2016. For the year, the Company anticipates that consolidated sales will be in the range of $93 million to $95 million and net income will be in the range of $4.8 million to $5.0 million. The Company anticipates that EBITDA for the FY 2016 will be in the range of $6.6 to $7.0 million compared to $3.9 million a year ago and that earnings per share will increase to $0.52 per share based on approximately 9.4 million shares outstanding as compared to $.40 per share in last fiscal year based on approximately 7.0 million shares outstanding. These preliminary financial results represent the most current information available to management and are subject to completion of the Company's customary year-end closing and review procedures, as well as the completion of the audit by the Company's independent auditor.
"With FY 2016 revenue up at least 64% compared to the prior year and EBIDTA up approximately 74% compared to the similar period a year ago, we have delivered 571% sales growth and 1600% net income growth since fiscal 2013," said Saagar Govil, Chairman & CEO. "During this period we have positioned the Company towards a diversified model which aims to capitalize on the continued global growth in highly advanced electronics manufacturing and the industrial equipment and services markets, thus providing increasing momentum for continued profitable growth in the coming years."
The Company anticipates releasing its year-end results in late December and will provide an update and outlook for fiscal year 2017 at that time.
About Cemtrex
Cemtrex, Inc. (CETX) is a global, diversified industrial and manufacturing solutions company that provides a wide array of products and services to meet today's technology challenges and is rapidly growing through acquisitions. Cemtrex provides: manufacturing services of advanced custom engineered electronics, industrial maintenance services, monitoring instruments for industrial processes and environmental compliance, and equipment for controlling particulates, hazardous pollutants, and Greenhouse gases used in carbon trading globally. www.cemtrex.com
Recent CETX News
- Cemtrex’s Vicon Industries to Attend ISC West 2024 • GlobeNewswire Inc. • 04/09/2024 12:30:00 PM
- Vicon to Showcase Their New Unified Cloud Solution with Groundbreaking Face Authentication and Person of Interest Tracking at ISC West 2024 • PR Newswire (US) • 04/07/2024 11:25:00 PM
- Cemtrex’s Advanced Industrial Services Secures New Orders Totaling $2.1 Million • GlobeNewswire Inc. • 03/11/2024 12:45:00 PM
- Cemtrex Announces Beta Release of Pioneering AI Gun Detection Feature • GlobeNewswire Inc. • 03/06/2024 01:45:00 PM
- Cemtrex Issues Shareholder Letter and Provides Corporate Update • GlobeNewswire Inc. • 02/28/2024 01:30:00 PM
- Cemtrex Reports First Quarter 2024 Financial Results • GlobeNewswire Inc. • 02/12/2024 09:20:00 PM
- Cemtrex to Host First Quarter 2024 Financial Results Conference Call on Monday, February 12, 2024 • GlobeNewswire Inc. • 02/09/2024 01:30:00 PM
- Cemtrex Receives $0.8 Million Additional Vicon Industries Order from School District Customer • GlobeNewswire Inc. • 02/01/2024 01:30:00 PM
- Cemtrex Receives $3.8 Million for Two Advanced Industrial Services Projects • GlobeNewswire Inc. • 01/31/2024 01:30:00 PM
- Cemtrex Inc. to Reconvene Special Meeting Of Series 1 Preferred Stock Shareholders on Friday December 29, 2023 at 12:00 pm. Eastern Time • GlobeNewswire Inc. • 12/28/2023 02:15:00 PM
- Cemtrex Reports Unaudited Fourth Quarter and Full Fiscal Year 2023 Financial Results • GlobeNewswire Inc. • 12/21/2023 09:35:00 PM
- Vicon Boosts its Unified VMS Platform by Integrating with Omnilert's AI Visual Gun Detection System • PR Newswire (US) • 12/19/2023 09:11:00 PM
- Cemtrex to Host Fourth Quarter and Full Fiscal Year 2023 Financial Results Conference Call on Thursday, December 21, 2023 • GlobeNewswire Inc. • 12/07/2023 09:15:00 PM
- Cemtrex Subsidiary, Vicon Industries, Launches Anavio, A New Cloud Based, Security Software-as-a-Service Platform For Safer, Smarter Schools • GlobeNewswire Inc. • 10/10/2023 01:00:00 PM
- Cemtrex Receives $1.0 Million Contract from Pennsylvania Borough Stewartstown • GlobeNewswire Inc. • 09/26/2023 12:30:00 PM
- Cemtrex Receives to Present at LD Micro Main Event XVI Conference on October 3, 2023 • GlobeNewswire Inc. • 09/20/2023 12:30:00 PM
- Cemtrex Receives $1.5 Million Upgrade Order for Vicon Valerus System from Correctional Facility in Maryland • GlobeNewswire Inc. • 08/29/2023 12:30:00 PM
- Cemtrex Announces Share Repurchase Program for Series 1 Preferred • GlobeNewswire Inc. • 08/23/2023 01:00:00 PM
- Cemtrex Reports Third Quarter 2023 Financial Results • GlobeNewswire Inc. • 08/10/2023 08:15:00 PM
- Cemtrex to Host Third Quarter 2023 Financial Results Conference Call on August 10, 2023 • GlobeNewswire Inc. • 07/26/2023 12:30:00 PM
- Cemtrex Closes Acquisition of Heisey Mechanical Ltd. to Expand AIS Industrial Segment • GlobeNewswire Inc. • 07/07/2023 12:30:00 PM
- Cemtrex to Acquire Mechanical Contracting and Steel Fabrication Company to Expand AIS Industrial Segment • GlobeNewswire Inc. • 06/08/2023 12:30:00 PM
- Cemtrex to Present at LD Micro Invitational XIII Conference on June 6, 2023 • GlobeNewswire Inc. • 05/23/2023 12:30:00 PM
- Cemtrex Reports Second Quarter 2023 Financial Results • GlobeNewswire Inc. • 05/11/2023 08:15:00 PM
- Cemtrex Secures Additional $1.1 Million Vicon Industries Order from Border Protection Customer in Texas • GlobeNewswire Inc. • 05/04/2023 01:00:00 PM
FEATURED Cannabix Technologies to Deliver Breath Logix Alcohol Screening Device to Australia • Apr 30, 2024 8:53 AM
Hydromer, Inc. Reports Preliminary Unaudited Financial Results for First Quarter 2024 • HYDI • Apr 29, 2024 9:10 AM
Avant Technologies to Implement AI-Empowered, Zero Trust Architecture in Its Data Centers • AVAI • Apr 29, 2024 8:00 AM
Bantec Reports an Over 50 Percent Increase in Sales and Profits in Q1 2024 from Q1 2023 • BANT • Apr 25, 2024 10:00 AM
Cannabix's Breath Logix Alcohol Device Delivers Positive Impact to Private Monitoring Agency in Montana, USA • BLO • Apr 25, 2024 8:52 AM
Kona Gold Beverages, Inc. Announces Name Change to NuVibe, Inc. and Initiation of Ticker Symbol Application Process • KGKG • Apr 25, 2024 8:30 AM