Cemtrex, Inc. (CETX) Announces Q1 Results with Earnings Per Share Increasing 50%
FARMINGDALE, N.Y., Feb. 11, 2016 /PRNewswire/ -- Cemtrex, Inc. (Nasdaq: CETX), a world leading industrial and manufacturing company, announced its first quarter consolidated results of operations for the three months ended December 31, 2015.
First Quarter Highlights:
- Earnings per share for the three months ended December 31, 2015 increased by 50% to $.09 from $.06 for the three months ended December 31, 2014.
- Net Income for the three months ended December 31, 2015 increased by 74% to $692,395 from $396,872 for the three months ended December 31, 2014.
- Net sales for the three months ended December 31, 2015 decreased by 4% to $13,314,693 from $13,842,780 for the three months ended December 31, 2014.
Cemtrex's Chairman and CEO, Saagar Govil, commented on the results, "This quarter we experienced headwinds due to the decline in oil & gas markets, however this was offset by an increase in demand in some of our other industrial and power markets. Revenues were down 4% but we are pleased with the outcome of our operating results with an increase in earnings per share. The fundamentals in our business remain strong and we are focused on continued profitable growth."
Cemtrex, Inc. (NASDAQ: CETX) is a global, diversified industrial and manufacturing company that provides a wide array of solutions 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.
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.