Cemtrex (OTC: CTEI) Continues Excellent Performance in Q2 with More than 1200% Growth in Net Income
FARMINGDALE, N.Y., April 30, 2014 /PRNewswire/ -- Cemtrex, Inc. (www.cemtrex.com) today announced its second quarter consolidated results of operations for the three months ended March 31, 2014.
Second Quarter Highlights:
Total revenue for the three months ended March 31, 2014 and 2013 was $11,548,572 and $3,620,167, respectively, an increase of $7,928,396, or 219%. Net income for the three months ended March 31, 2014 and 2013 was $769,615 and $56,428, respectively, an increase of $713,187, or 1,264%.
Saagar Govil, Chief Executive Officer of Cemtrex, commented, "We have continued our strong momentum during this second quarter. The increase in sales and net income was due to both organic growth in our environmental equipment business and our recently acquired electronics manufacturing business, ROB Cemtrex. We believe Cemtrex is in a great position, both strategically and fiscally, for continued long term growth as we continue to provide unparalleled value for our customers and shareholders."
Cemtrex completed the acquisition of the German based ROB Group of companies, a leading full service electronics manufacturer on October 31st, 2013.
About Cemtrex, Inc.
Cemtrex, Inc. (OTC: CTEI) is a diversified technology company that provides solutions to meet today's industrial challenges. The Company operates through three (3) business divisions consisting of: (1) electronic manufacturing services of printed circuit board assemblies, (2) instruments & emission monitors for industrial processes, and (3) industrial air filtration & environmental control systems.
Cemtrex through its wholly owned subsidiary ROB Cemtrex GmbH (www.robcemtrex.com) provides electronic manufacturing services, which includes printed circuit board assemblies and completely assembled electronic products. The Company sells a complete line of air filtration and environmental control products through its subsidiary Griffin Filters, LLC (www.griffinfilters.com) to a wide variety of industrial and manufacturing industries worldwide. The Company through its Monitoring Instruments and Products (MIP) (www.cemtrex.com) division manufactures sells, and services instruments, software and systems for monitoring emissions of Greenhouse gases, hazardous gases, particulate and other regulated pollutants used in emissions 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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