Cemtrex Reports Fiscal Year 2013 Results: Sales Increase by 12%
FARMINGDALE, N.Y., Jan. 27, 2014 /PRNewswire/ -- Cemtrex Inc. (OTC: CTEI) today announced its fiscal year 2013 consolidated results of operations for the twelve months ended September 30, 2013.
Fiscal year 2013 Highlights:
- Revenue increased by 12% to $13,673,531 for twelve months ended in September 30, 2013 compared to $12,162,046 for the same period in 2012.
- Revenue increased by 45.2% to $5,332,157 for the three month period ended June 30, 2013 compared to $3,672,005 in the similar three month period last year.
- Net Income was $288,497 in the twelve month period ended September 30, 2013 compared to an income of $648,199 in the same period in 2012.
Commenting on the yearly results, Mr. Saagar Govil, President and Chief Executive Officer of the Company remarked, "We are pleased with the results of fiscal 2013 and the fact that we were able to maintain our sales in a difficult economic climate." "We also increased shareholder value by completing a strategic acquisition of ROB Group located in Neulingen, Germany, without issuing any new shares, on October 31, 2013, which had annual sales of approximately 30 million and is in the business of providing electronic manufacturing services (EMS), which includes printed circuit board assemblies and completely assembled electronic products," continued Mr. Govil.
Cemtrex is a technology company that operates in a wide array of business segments and provides solutions to meet today's industrial challenges. The Company provides electronic manufacturing services of printed circuit board assemblies, provides instruments & emission monitors for industrial processes, and provides industrial air filtration & environmental control systems.
Cemtrex through its wholly owned subsidiary ROB Cemtrex GmbH provides electronic manufacturing services, which includes printed circuit board assemblies and completely assembled electronic products. The Company through its Monitoring Instruments and Products (MIP) 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. Cemtrex also markets technologies for generating carbon credits from low temperature catalytic oxidation of methane ventilating from coal mines. Cemtrex also provides Green Direct Control Ventilation (DCV) systems for commercial buildings to provide energy efficiency of up to 40% on existing and new installations. The Company sells air filtration and environmental control products through its subsidiary Griffin Filters LLC.
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.
Read more news from Cemtrex.
SOURCE Cemtrex, Inc.