Cemtrex, Inc. (CETX) FY 2017 Q1 Net Income Up 103%, EBITDA up 138% and EPS Increasing 56%
FARMINGDALE, N.Y., Feb. 9, 2017 /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, 2016.
First Quarter Highlights:
- Earnings per share for the three months ended December 31, 2016 increased by 56% to $.14 from $.09 for the three months ended December 31, 2015.
- Net Income for the three months ended December 31, 2016 increased by 103% to $1,405,693 from $692,395 for the three months ended December 31, 2015.
- Net sales for the three months ended December 31, 2016 increased by 121% to $29,397,257 from $13,314,693 for the three months ended December 31, 2015.
- EBITDA was up 138% to $2,646,181 in the three months period ended December 31, 2016 compared to EBITDA of $1,112,527 in the same period in 2016.
Cemtrex's Chairman and CEO, Saagar Govil, commented on the results, "We are extremely pleased with our first quarter results and quite proud of what we have accomplished in the past twelve months. With our rights offering now complete, we plan to continue on our path of strong growth while executing accretive acquisitions in this fiscal year as well."
Company will hold a conference call regarding its earnings sometime after filing its 10-Q report. The Company will announce the conference call date on its website.
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.
Released February 9, 2017