Cemtrex Inc (CETX)

[ProfitScout]

Very encouraging commentary from CETX CEO Govil on the progress that is being made here to date. The SmartDesk is an outstanding new product that is unequaled by anything similar on the market today and this is just the beginning for its marketing program.

Cemtrex’s Chairman and CEO, Saagar Govil, commented on the results, “While total revenues were lower in the period, we continue to make important progress on our transition to higher margin business. During this quarter we shipped our first SmartDesks to customers, only 18 months after beginning development of the product, which is a tremendous milestone for the company. Interest from major customers in our SmartDesk continues to grow, and we are successfully reducing our dependency on low margin legacy businesses. We have made several investments in 2018 in new high growth areas from our SmartDesk, to security technology with Vicon Industries, and Virtual and Augmented Reality software, that we believe will start to generate returns in 2019 and beyond. Additionally, in the more near term we are very confident, as the sales of Smartdesk increase in the current year, the Company will return to profitability.”