Cemtrex Receives over $20M in New Orders in its EMS Segment During Most Recent Quarter
Strong Demand from Medical Devices Drives Growth in Backlog up to $50 million
Farmingdale, NY, July 23, 2018 (GLOBE NEWSWIRE) -- Cemtrex Inc. (Nasdaq: CETX, CETXP, CETXW), a world leading technology and manufacturing company, announced today that the company received over $20 million in new orders in its Electronics Manufacturing Services (EMS) Segment during its most recent quarter ended June 30th, 2018.
The Company’s new orders were driven primarily by customers in medical devices, industrial technology, automation, and measurement devices. The orders came from both new customers and existing customers such as ERBE, Stäubli, and Heinzmann. These new orders bring the total EMS segment’s backlog up to over $50M in total which puts the segment on a path toward organic growth of 10% over the next twelve months.
Cemtrex’s Chairman and CEO, Saagar Govil, commented, “We are encouraged with the recent success of our EMS segment. We have been able to rebound from a decline in sales last quarter with these new bookings. With $50M in backlog this gives us a strong foundation for us to continue growing within this segment.”
About Cemtrex
Cemtrex, Inc. (NASDAQ:CETX) is the manufacturer of the SmartDesk, the world’s most advanced workstation. Cemtrex is a diversified technology company that's driving innovation in a wide range of sectors, including smart technology, virtual and augmented realities, advanced electronic systems, industrial solutions, and intelligent security systems.
www.cemtrex.com
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For further information, please contact: Media Relations KCSA Strategic Communications Anne Donohoe 212-896-1265 adonohoe@kcsa.com Investor Relations Cemtrex, Inc. Phone: 631-756-9116 investors@cemtrex.com
Released July 23, 2018