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Cemtrex, Inc. (CETX)

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1.3094+0.0794 (+6.46%)
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Previous Close1.2300
Open1.2800
Bid1.3000 x 1000
Ask1.3100 x 900
Day's Range1.2307 - 1.3697
52 Week Range0.6000 - 3.7500
Volume1,542,909
Avg. Volume1,190,907
Market Cap21.924M
Beta (5Y Monthly)2.09
PE Ratio (TTM)N/A
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateMar 29, 2017
1y Target EstN/A
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  • Cemtrex’s Virtual Driver Interactive (VDI) Now Offering Driving EssentialsXE Teen Driver Training on PlayStation5 and Xbox Series X
    GlobeNewswire

    Cemtrex’s Virtual Driver Interactive (VDI) Now Offering Driving EssentialsXE Teen Driver Training on PlayStation5 and Xbox Series X

    Teens Able to Learn How to Drive at Home Using Next Generation Consoles During PandemicBrooklyn, NY, Nov. 23, 2020 (GLOBE NEWSWIRE) -- — Cemtrex Inc. (NASDAQ: CETX, CETXP, CETXW), a technology company driving innovation in Internet of Things (IoT), security, machine vision & artificial intelligence, and augmented & virtual reality, today announced its subsidiary Virtual Driver Interactive (VDI) is now offering the Driving EssentialsXE program on the newly released Sony PS5 and Microsoft Xbox Series X platforms, in addition to their full line of simulation training products for schools and public safety organizations. A recent survey conducted by the Governor’s Highway Safety Association showed that 62% of parents said their child had experienced a COVID-19 related disruption in driver education. With Microsoft and Sony officially launching their latest next-generation consoles this month, it is the ideal time for the Driving EssentialsXE program to help parents bridge the gap in formal training created by the pandemic. The Driving EssentialsXE program provides the millions of PlayStation and Xbox users with the ability to experience challenging and real-world driving experiences all from the safety of their own home. The in-home use version of VDI’s product portfolio is an immersive driver training program that teaches the critical skills essential to safe driving in an entertaining and engaging way. With 10 in-depth lessons and unlimited free driving, it offers many advanced concepts that are not covered in online or driving school courses including driving in highway, city, residential, rural and off road in adjustable weather conditions. Inclement weather, distracted driving consequences and complex traffic scenarios are normally too dangerous to practice in real life but are covered in Driving EssentialsXE. For $29, the program is available at both the Sony and Microsoft stores. “With today’s COVID-19 world, there is even less opportunity for teens to get the driver training they require prior to getting behind the wheel,” said Bob Davis, VDI General Manager.  “Driving EssentialsXE offers teens a tool to gain real-world experience in the safety of their home. By combining technology with training, we let them face challenging traffic scenarios and master basic driving skills which give them and their parents the confidence they need to get behind the wheel,” concluded Davis.“VDI is a market leader with best-in-class driver training products and this new offering demonstrates their nimbleness to bring a desperately needed driving solution for today’s teenage parent searching for in-person driving alternatives,” said Saagar Govil, Chairman and CEO of Cemtrex. “VDI has built a successful business with innovative technologies, an effective product portfolio and extensive customer base. Those customers include the U.S. Postal Service, numerous universities and school districts along with some of the nation’s largest fleets in transportation, utilities, networking, insurance and public safety sector,” concluded Govil.About Virtual Driver Interactive Virtual Driver Interactive (VDI) is well known in the simulation industry for its vision of innovative simulation-based training.  Other titles include One Simple Decision®, a deterrent to distracted or impaired driving and Virtual DE™ (Virtual Driving Essentials), a driver training and assessment program teaching critical skills. VDI is a wholly owned subsidiary of Cemtrex Inc., and located in El Dorado Hills, California. For more information about Driving EssentialsXE, please visit www.drivingxe.com.  For more information about VDI’s innovative interactive simulation driver training solutions, please visit www.driverinteractive.com.About CemtrexCemtrex, Inc. (CETX) is a leading multi-industry technology company that is driving innovation in markets such as Internet of Things (IoT), Augmented and Virtual Reality (AR & VR), and Artificial Intelligence and Computer Vision (AI & CV) in a wide range of sectors, including consumer products, industrial manufacturing, digital applications, and intelligent security & surveillance systems. www.cemtrex.com.Forward-Looking StatementsThis press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the closing of the offering, gross proceeds from the offering, our new product offerings, expected use of proceeds, or any proposed fundraising activities.  These forward-looking statements are based on management’s current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by such forward looking statements.  Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. These risks and uncertainties are discussed under the heading “Risk Factors” contained in our Form 10-K filed with the Securities and Exchange Commission.  All information in this press release is as of the date of the release and we undertake no duty to update this information unless required by law. CONTACT: Investor Relations Chris Tyson Executive Vice President – MZ North America Direct: 949-491-8235 CETX@mzgroup.us www.mzgroup.us

  • Cemtrex Completes Acquisition of Training Simulation Technology Company, Virtual Driver Interactive
    GlobeNewswire

    Cemtrex Completes Acquisition of Training Simulation Technology Company, Virtual Driver Interactive

    Acquisition to Enhance Company’s Augmented & Virtual Reality Growth Segment & VR Training Product LineBrooklyn, NY, Oct. 26, 2020 (GLOBE NEWSWIRE) -- Cemtrex Inc. (NASDAQ: CETX, CETXP, CETXW), a technology company driving innovation in Internet of Things (IoT), security, machine vision & artificial intelligence, and augmented & virtual reality, has signed a definitive agreement to acquire Virtual Driver Interactive (“VDI”), a California based provider of innovative driver training simulation solutions. For over 10 years, VDI has been known for its effective and engaging driver training systems, designed for users of all ages and skill levels. The Company offers comprehensive training for new teen and novice drivers, along with advanced training for corporate fleets and truck drivers. VDI’s wide range of training courses and system options provide customers with highly portable, affordable and effective solutions, all while focusing on the dangers of distracted driving.VDI has over 2,000 installations across all 50 states. Their core market includes school districts, large fleets, organizations in state public safety, non-profits and insurance companies across the US. Current customers include the U.S. Postal Service, ConEd, Minnesota Dept. of Transportation, AAA, Mayo Clinic, Kaiser Permanente, Nationwide and Allstate.VDI's product portfolio also includes Driving Essentials XE, an at home teen driver program using the Xbox and Playstation platforms that provides teens with a tool to gain real-world experience in the safety of their own home. “VDI is a market leader with best-in-class driver training products, with over $2 million in annual revenue,” said Saagar Govil, Chairman and CEO of Cemtrex. “VDI has built a successful business with innovative technologies, an effective product portfolio and extensive customer base. Those customers include the U.S. Postal Service, numerous universities and school districts along with some of the nation’s largest fleets in transportation, utilities, networking, insurance and public safety sector.“We will expand and accelerate those achievements by transitioning their technology to next generation solutions including VR, enhancing the training solutions and broadening the product portfolio into other simulation and recreational areas. By integrating our technology and resources, and building on the momentum VDI has established, we can reach our long-term goal of creating immersive training solutions in multiple vertical markets.  We are looking forward to working with VDI’s highly skilled team to add to our dynamic AR/VR division,” concluded Govil.Cemtrex completed the acquisition on October 23rd, 2020 using existing cash on hand. The transaction is expected to be accretive beginning in Q1 FY2021 to both non-GAAP earnings per share and cash flow.About Virtual Driver InteractiveVirtual Driver Interactive (VDI) is well known in the simulation industry for its vision of innovative simulation-based training.  Training programs include Driving EssentialsXE, console-based teen driver training program using Xbox & PS4; One Simple Decision®, a deterrent to distracted or impaired driving;  Virtual DE™ (VirtualDriving Essentials), a driver training and assessment program teaching critical skills and Virtual HD™(Virtual Hazard Detection), for corporate fleet safety programs.  For more information about VDI’s innovative interactive simulation driver training solutions, please visit www.driverinteractive.com.About CemtrexCemtrex, Inc. (CETX) is a leading multi-industry technology company that is driving innovation in markets such as Internet of Things (IoT), Augmented and Virtual Reality (AR & VR), and Artificial Intelligence and Computer Vision (AI & CV) in a wide range of sectors, including consumer products, industrial manufacturing, digital applications, and intelligent security & surveillance systems. www.cemtrex.com.Forward-Looking StatementsThis press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the closing of the offering, gross proceeds from the offering, our new product offerings, expected use of proceeds, or any proposed fundraising activities.  These forward-looking statements are based on management’s current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by such forward looking statements.  Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. These risks and uncertainties are discussed under the heading “Risk Factors” contained in our Form 10-K filed with the Securities and Exchange Commission.  All information in this press release is as of the date of the release and we undertake no duty to update this information unless required by law.   CONTACT: Investor Relations Chris Tyson Executive Vice President – MZ North America Direct: 949-491-8235 CETX@mzgroup.us www.mzgroup.us

  • GlobeNewswire

    Cemtrex Receives $0.5 Million Upgrade Order in Advanced Technologies Segment

    Corrections Facility in Tennessee to Upgrade Security Surveillance System Including Over 1,000 CamerasBrooklyn, NY, Oct. 08, 2020 (GLOBE NEWSWIRE) --  — Cemtrex Inc. (NASDAQ: CETX, CETXP, CETXW), a technology company driving innovation in Internet of Things (IoT), security, machine vision & artificial intelligence, and augmented & virtual reality, has received a $500,000 order to upgrade a security technology system through its Advanced Technology Segment for a large Tennessee based corrections facility. The mission-critical enterprise-class system is an upgrade from Cemtrex’s legacy system to its latest offering, which includes a state-of-the-art video surveillance security system, Valerus software solution, cameras and related storage hardware.“This order reaffirms the positive outlook for our core Security Technology vertical as the market continues to improve,” said Saagar Govil, Chairman and CEO of Cemtrex. “Our strong presence in corrections has provided multiple orders for several security surveillance systems, driving revenue increases this year. We are leveraging these gains to further develop advances in our product lines in IoT, AR & VR, as well as in Artificial Intelligence and Machine Vision.“The orders received during the September quarter in our Advanced Technologies Segment were higher on a year over year basis from 2019. This gives us confidence that our end markets are recovering well from COVID-19 and that the Advanced Technologies segment should see top line growth in FY 2021 based on our momentum,” continued Mr. Govil.The new order was booked in September 2020 and will be shipped in October. The details of the customer were not provided due to confidentiality agreements in place.About CemtrexCemtrex, Inc. (CETX) is a leading multi-industry technology company that is driving innovation in markets such as Internet of Things (IoT), Augmented and Virtual Reality (AR & VR), and Artificial Intelligence and Computer Vision (AI & CV) in a wide range of sectors, including consumer products, industrial manufacturing, digital applications, and intelligent security & surveillance systems. www.cemtrex.com.Forward-Looking StatementsThis press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the closing of the offering, gross proceeds from the offering, our new product offerings, expected use of proceeds, or any proposed fundraising activities.  These forward-looking statements are based on management’s current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by such forward looking statements.  Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. These risks and uncertainties are discussed under the heading “Risk Factors” contained in our Form 10-K filed with the Securities and Exchange Commission.  All information in this press release is as of the date of the release and we undertake no duty to update this information unless required by law. CONTACT: Investor Relations Chris Tyson Executive Vice President – MZ North America Direct: 949-491-8235 CETX@mzgroup.us www.mzgroup.us