Cemtrex, Inc. Earnings Increase 192% in Fiscal Year 2006
FARMINGDALE, N.Y., Oct. 25 /PRNewswire-FirstCall/ -- Cemtrex, Inc. (OTC: CTEX) today reported a net profit of $164,823 ($.00094 per share) on sales of $961,132 for its fiscal year ended September 30, 2006 from its financial statements as prepared by the management. For the similar twelve- month period ended on September 30, in fiscal year 2005, the Company had sales of $774,703 and net income of $56,516 respectively. The Company's selling, general and administrative expenses grew from $283,940 in fiscal year 2005 to $296,141 in fiscal year 2006. Gross profit of $500,168 for the twelve-month period ended September 30, 2006 was 52% of sales compared to $334,680 or 43% of sales in the same period in the previous year. The higher gross profit in fiscal year 2006, compared to fiscal year 2005, was in part due to the product mix of the projects executed during 2006 as compared to the previous year. "We are extremely pleased with our increased profitability this year," said Mr. Aron Govil, CEO & President of Cemtrex, Inc. "Due to the current favorable climate for our technologies, we expect tremendous growth both organically and through acquisitions in the coming years." Cemtrex is engaged in manufacturing and selling the most-advanced and custom-engineered instruments for emission monitoring. The Company offers a complete range of Process and Air Emissions monitoring instruments and software for all pollutants regulated by the EPA, including dust, opacity, CO2, O2, SO2, NOx, CO, flow, moisture, ammonia, mercury and hydrocarbons. Cemtrex also provides turnkey services for carbon creation projects from abatement of greenhouse gases pursuant to the Kyoto Protocol. 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 communication contains statements expressing expectations of future events and/or results which may include, without limitation, statements concerning anticipated financial performance, business prospects, technological developments, potential markets, new products, research and development activities and similar matters. Such statements constitute forward-looking statements made pursuant to the Safe Harbor provision of the Private Securities Litigation Reform Act of 1995. All statements based on future expectations rather than historical facts are forward-looking statements that involve a number of risks and uncertainties, and Cemtrex cannot provide assurance that such statements will prove to be correct. Cemtrex undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. For further information, please contact: Cemtrex, Inc. URL: http://www.cemtrex.com Email: firstname.lastname@example.org Aron Govil, CEO @ (516) 816-1400 This release was issued through eReleases(TM). For more information, visit http://www.ereleases.com.
SOURCE Cemtrex, Inc.
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