Brooklyn, NY, Feb. 28, 2024 (GLOBE NEWSWIRE) --  - Cemtrex Inc. (NASDAQ:CETX, CETXP))), an advanced security technology and industrial services company, today issued a letter to shareholders from Chairman and CEO Saagar Govil. To the Shareholders of Cemtrex, Inc., I wanted to provide you with a detailed update on Cemtrex's activities over the last several months. If you have been following our progress closely then you will know that we have made many changes to our organization with the hope that we will g ...

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Financial Data and Key Metrics Changes - The company reported revenue of $16.9 million for Q1 2024, an increase of 41% compared to $12 million in Q1 2023 [31] - The net loss for Q1 2024 was $1.2 million, an improvement of $5.1 million from a net loss of $6.3 million in Q1 2023 [9] - Gross profit for Q1 2024 was $7.1 million, maintaining a gross margin of 42%, consistent with the previous year [18] Business Line Data and Key Metrics Changes - Revenues in the security segment increased by 31% to $9.2 million, driven by demand for Vicon's security technology products [31] - The industrial services segment, AIS, saw revenues increase by 55% to $7.7 million, attributed to increased demand and the acquisition of Heisey Mechanical [30] Market Data and Key Metrics Changes - The security market is experiencing strong growth due to increased investments in security infrastructure driven by geopolitical instabilities [17] - The industrial services market is also trending higher, supported by reshoring of manufacturing and infrastructure investments in the U.S. [21] Company Strategy and Development Direction - The company is focused on delivering larger operating profits through topline growth and tight cost control measures [10] - Vicon is evolving into a recurring revenue business model, which is expected to drive additional market share gains [10] - The launch of Anavio, a new cloud security platform, is aimed at creating long-term value and enhancing the company's offerings [17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the continued growth of Vicon, projecting an average growth rate of 15% to 20% over the next couple of years [11] - The company remains committed to achieving positive operating income for the fiscal year 2024 despite the loss in Q1 [24] Other Important Information - The company has taken steps to reduce operating expenditures, including a $1 million reduction in overhead in the security segment [5] - Cash and cash equivalents totaled $4 million at the end of Q1 2024, down from $6.3 million at the end of Q4 2023 [9] Q&A Session Summary Question: What drove the strong performance in the security and industrial segments, and do you see the same trends continuing in Q2? - Management noted strong tailwinds in the security segment as organizations prioritize security investments, expecting Vicon to continue growing at 15% to 20% [11] Question: How should we think about operating income for Q2, given the slight sequential decline? - Management acknowledged that operating income did not meet expectations due to one-time expenses but anticipated lower operating expenses in subsequent quarters [39]

Brooklyn, NY, Feb. 12, 2024 (GLOBE NEWSWIRE) --  - Cemtrex Inc. (NASDAQ:CETX, CETXP))), an advanced security technology and industrial services company, has reported its unaudited financial and operational results for the first quarter ended December 31, 2023. Key First Quarter FY 2024 and Subsequent Highlights Revenue for Q1'24 increased 41% to $16.9 million, compared to revenue of $12.0 million for Q1'24. Security segment revenues increased 31% to $9.2 million in Q1'24 on increased demand for Vicon's prod ...

Brooklyn, NY, Feb. 09, 2024 (GLOBE NEWSWIRE) --  - Cemtrex Inc. (NASDAQ:CETX, CETXP))), an advanced security technology and industrial services company, will hold a conference call on Monday, February 12, 2024 at 5:00 p.m. Eastern time to discuss its results for the first quarter ended December 31, 2023. A press release detailing these results will be issued prior to the call. Cemtrex Chief Executive Officer Saagar Govil and Chief Financial Officer Paul Wyckoff will host the conference call, followed by a q ...

Brooklyn, NY, Feb. 01, 2024 (GLOBE NEWSWIRE) -- - Cemtrex Inc. (NASDAQ:CETX, CETXP))), an advanced security technology and industrial services company, today announced it has received a $0.8 million second phase order through Vicon Industries from a current school district customer in New Jersey to develop its security technology system with new solutions, expanding on the customer's previous order. The New Jersey School District project builds on the customer's state-of-the-art video surveillance security ...

Brooklyn, NY, Jan. 31, 2024 (GLOBE NEWSWIRE) --  - Cemtrex Inc. (NASDAQ:CETX, CETXP))), an advanced security technology and industrial services company, today announced it has received $3.8 million in new orders through its Advanced Industrial Services ("AIS") subsidiary for two projects, including a $2.2 million order for a geothermal system update for a Northeastern School District, and a $1.6 million order for the fabrication of a key component for a motion control technologies company. The Northeastern ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Delaware 30-0399914 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) Title of Each Class Trading Symbol Name of Each Exchange on Which Registered Common Stock, $0.001 par value per share CETX The NASDAQ Capital Market Preferred Stock, Series 1 $0.001 par value per share CETXP The NASDAQ Capital Market For the fiscal year ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTIO ...

Cemtrex, Inc. (NASDAQ:CETX) Q4 2023 Earnings Conference Call December 21, 2023 5:00 PM ET Company Participants Saagar Govil - Chief Executive Officer Paul Wyckoff - Chief Financial Officer Conference Call Participants Larry Holub - Holub Family Office Operator Greetings, and welcome to the Cemtrex Fourth Quarter and Full Fiscal Year 2023 Financial Results Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. As a reminde ...

Cemtrex, Inc. (NASDAQ:CETX) Q3 2023 Earnings Conference Call August 10, 2023 5:00 PM ET Company Participants Saagar Govil - Chief Executive Officer Paul Wyckoff - Chief Financial Officer Conference Call Participants Operator Greetings, and welcome to the Cemtrex Third Quarter 2023 Financial Results Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. As a reminder, this conference is being recorded. Before we begin the ...