Cemtrex Ends Fiscal Year with a Return to Profitability and a 315% Increase in Sales
FARMINGDALE, N.Y., Jan. 13, 2012 /PRNewswire/ -- Cemtrex, Inc. (OTC: CTEI) today announced its results for the fiscal year ending September 30th, 2011.
Year-End Highlights Include:
Sales: Net sales for 2011 increased by $10,428,098 to $13,732,153, from $3,304,055 in 2010.
Net Income: The Company had a net income of $1,010,882 as compared to net loss of $1,028,682 in 2010 after provision of income tax of $3,445.
Commenting on the results, Saagar Govil, CEO of Cemtrex, said, "Our team has worked exceptionally hard this year in improving our results both at the top and bottom lines. Due to recent legislation that has been passed by the EPA and our ongoing efforts to expand into new markets we are confident that going into 2012, Cemtrex is poised for continued success."
Cemtrex, Inc. through its subsidiaries is a worldwide market leader in manufacturing and selling the most advanced equipment and systems for stack gas emission monitoring, air filtration and other environmental control products in a wide variety of industries, including power plants, refineries, chemical, steel and cement plants. Cemtrex also markets Green DCV, an innovative energy efficiency solution for high-quality green building applications, through optimizing HVAC control systems.
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.
For further information, please contact:
SOURCE Cemtrex, Inc.