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Cemtrex, Inc. (CETX)

NasdaqCM - NasdaqCM Real Time Price. Currency in USD
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1.4400+0.0300 (+2.13%)
At close: 4:00PM EDT
1.6000 +0.16 (11.11%)
After hours: 06:11PM EDT
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Neutralpattern detected
Previous Close1.4100
Open1.4000
Bid1.5000 x 800
Ask1.4400 x 3200
Day's Range1.3900 - 1.4400
52 Week Range0.9410 - 4.2000
Volume309,178
Avg. Volume923,080
Market Cap25.874M
Beta (5Y Monthly)2.13
PE Ratio (TTM)N/A
EPS (TTM)-1.3650
Earnings DateJan 05, 2021
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateMar 29, 2017
1y Target Est2.75
  • Cemtrex Reports First Quarter 2021 Financial Results
    GlobeNewswire

    Cemtrex Reports First Quarter 2021 Financial Results

    Brooklyn, NY, June 01, 2021 (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 reported its financial and operational results for the first quarter ended December 31, 2021. Key First Quarter 2021 and Subsequent Operational Highlights Received a $1.1 million order to install a new security technology system through its Advanced Technology Segment for a large corrections facility in the United Kingdom. The enterprise-class system includes a state-of-the-art video surveillance security system, Valerus software solution, cameras, and related storage hardware, and is expected to be fulfilled during the remainder of this fiscal year.Announced the SmartDesk Connect, an advanced workstation that includes 4K UHD monitors, a sit-stand desk, ergonomic tabletop, with built-in wireless phone charger, all powered by a user’s laptop when connected to the SmartDesk. Management Commentary Cemtrex’s Chairman and CEO, Saagar Govil, commented on the results: “In the first quarter of 2021, we announced the next generation SmartDesk, the SmartDesk Connect. The product is an evolution of original patented SmartDesk, providing many of the same features but also allowing users to use their own laptop instead of a built-in PC. Recently we secured a $1.1 million order in our Advanced Technology Segment for a large corrections facility in the United Kingdom, a key market and growth driver for us. “Moving forward we remain focused on driving top line growth in 2021, as the market returns to normal, workers return to offices, and customers resume purchasing. To this end, we are seeing early indicators of an increase in U.S. economic growth in 2021. Positive outlook generally increased in the last several months as COVID-19 vaccinations rapidly progressed and political considerations turned more optimistic. We expect an improvement in our business during the year as the pandemic recedes and its effect on the economy subsides. We are well positioned for a return to growth and to creating long term value for our shareholders,” concluded Govil. First Quarter 2021 Financial Results Revenue for the three months ended December 31, 2020, and 2019 was $8.8 million and $12.2 million, respectively, a decrease of 28%. The decrease in revenue was primarily due to shutdowns and limited operations of businesses due to the COVID-19 crisis. The Advanced Technologies segment revenues for the three months ended December 31, 2020, decreased by 35% to $4.7 million, and the Industrial Services segment revenues for quarter decreased by 17%, to $4.2 million. Gross Profit for the first quarter of 2021 was $4.0 million, or 45% of revenues as compared to gross profit of $5.3 million, or 44% of revenues for the year ago period. Gross profit decreased due to lower sales, however the percentage increase is due to a shift by management in the last fiscal year to focus on products with higher gross margins. Total operating expenses for three months ended December 31, 2020 were $6.1 million, compared to $5.0 million in the prior year’s quarter. The increase in total operating expenses was primarily driven by increases in personnel costs, marketing and sales expenses, offset by a reduction in travel expenses. Operating activities for continuing operations used $0.1 million for the quarter ended December 31, 2020 compared to using $1.0 million of cash for the quarter ended December 31, 2019. Net loss for the quarter ended December 31, 2020 was $1.3 million, as compared to a net loss of $0.6 million in 2019. Cash and cash equivalents totaled $15.9 million at December 31, 2020, as compared to $19.5 million at September 30, 2020 and $4.0 million at December 31, 2019. About Cemtrex Cemtrex, 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 Statements This 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 Announces Receipt of Nasdaq Listing Delinquency Letter
    GlobeNewswire

    Cemtrex Announces Receipt of Nasdaq Listing Delinquency Letter

    Brooklyn, NY, May 21, 2021 (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, announced today that it received a letter from Listing Qualification Department of Nasdaq on May 19th, 2021 notifying the Company that because the Company has not yet filed its Form 10-Q for the period ended March 31, 2021 (the “Subsequent Delinquent Filing”), and because the Company remains delinquent in filing its Form 10-Q for the quarter ended December 31, 2020 (the “Initial Delinquent Filing”), the Company no longer complies with Nasdaq’s Listing Rule 5250(c)(1) “Obligation to File Periodic Financial Reports” for continued listing. In accordance with the letter from Nasdaq dated February 24, 2021, filed on Form 8-K, on February 26, 2021, the Company submitted a plan on April 26, 2021 (“the Submission”) to regain compliance with respect to the Initial Delinquent Filing. Subsequently, on May 6, 2021, Nasdaq requested further information by June 1, 2021 in connection with the Company’s pending investigation into its financials from the period of 2017-2020, so it could review this in connection with the Company’s Submission. The notification letter also disclosed that Nasdaq may provide the Company a cure period in order to regain compliance as follows: ● Respond to the request for further information by June 1, 2021 regarding the plan submitted on April 26, 2021; ● If the plan is accepted, the Company will be granted an exception of up to 180 calendar days from the Filing’s due date, or until August 23, 2021, to regain compliance. The Company has submitted a plan to regain compliance with Nasdaq and will respond to the request for further information by June 1, 2021. If Nasdaq accepts the Company’s plan, it may grant an exception of up to 180 calendar days from the due date of the Company’s Initial Delinquent Filing, or until August 23, 2021, to regain compliance. The Company believes that it will be able to file its delinquent filings prior to the expiration of the stated cure period should Nasdaq accept the Company’s plan. About Cemtrex Cemtrex, 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 Statements This 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 Announces $1.1 Million Order in Advanced Technologies Segment
    GlobeNewswire

    Cemtrex Announces $1.1 Million Order in Advanced Technologies Segment

    Corrections Facility in the United Kingdom to Install Security Surveillance SystemBrooklyn, NY, May 20, 2021 (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 $1.1 million order to install a new security technology system through its Advanced Technology Segment for a large corrections facility in the United Kingdom. The enterprise-class system includes a state-of-the-art video surveillance security system, Valerus software solution, cameras and related storage hardware, and is expected to be fulfilled during the remainder of this fiscal year. The details of the customer were not provided due to confidentiality agreements in place. “The corrections market continues to be a key growth driver for the Company both in the U.S and internationally,” said Saagar Govil, Chairman and CEO of Cemtrex. “Our end-to-end solution provides the corrections market with highly reliable, flexible, and simple-to-use technology that meets the specialized video management needs of the unique prison environment. “This new order reaffirms the positive demand and outlook for our core Security Technology vertical as this market continues to improve. April bookings for this part of our business were in line with pre-Covid levels, giving us confidence that our markets are starting to see some economic recovery after COVID-19. With our internationally recognized brand, we expect continued momentum in this vertical as a wide range of state and local corrections facilities choose our technology to keep their operations safe for prisoners, workers and visitors.” About Cemtrex Cemtrex, 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 Statements This 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