Cemtrex Continues to Grow as Quarterly Sales Increase by 11%
FARMINGDALE, N.Y., Feb. 23, 2012 /PRNewswire/ -- Cemtrex Inc. (OTC: CTEI) announced increased sales in the first quarter of fiscal 2012.
First Quarter Highlights:
Net sales for three months ended December 31, 2011 increased by 11%, to $2,020,916 from $1,821,634 for the three months ended December 31, 2010. The Company had a net profit of $189,562, which was 10% of net sales, for the three-month period ended December 31, 2011 as compared to a net income of $144,217 for the three-month period ended December 31, 2010, which was 8% of net sales.
Saagar Govil, Chief Executive Officer of Cemtrex, commented, "We have been able to consistently grow our business through international projects over the past year. We have secured large contracts across many of our business lines, from Griffin Filters to Green DCV, demonstrating our ability to compete worldwide against larger companies. Furthermore the fact that many companies in the U.S. will have to meet new EPA regulations in the short term creates a strong environment for Cemtrex to continue to thrive and meet our business objectives."
Cemtrex Inc. is a worldwide market leader in manufacturing and selling the most advanced instruments for emission monitoring products for the industry. Cemtrex also markets Green DCV, an innovative energy efficiency solution for high-quality green commercial buildings, through optimizing HVAC control systems. The Company's products are sold to power plants, refineries, chemical plants, cement plants and other industries, including federal and state governmental agencies.
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. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date.
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SOURCE Cemtrex, Inc.