Cemtrex(CETX)2024-05-15 00:09Financial Data and Key Metrics Changes - The operating loss for the second quarter was 0.4 million a year ago [3] - The net loss for the second quarter of 2024 was 0.6 million in the second quarter of 2023 [18] - Total operating expenses for the three months ended March 31, 2024, were 7 million in the prior year's quarter [18] - Cash, cash equivalents, and restricted cash totaled 6.3 million at September 30, 2023 [18] Business Line Data and Key Metrics Changes - Revenue for the Security segment decreased by 18% to 9.1 million, driven by increased demand and the Heisey acquisition [6][16] - Gross profit for the second quarter was 7.3 million or 46% of revenues for the same quarter last year [6] Market Data and Key Metrics Changes - The company secured significant orders in the Industrial Services segment, including a 0.5 million order for equipment removal [24] - The company anticipates that the Industrial Services segment could achieve more than 30% annual growth in fiscal year 2024 [16] Company Strategy and Development Direction - The company continues to invest in sales and marketing resources in the Security segment to drive sales growth [4] - There is a focus on exploring acquisition opportunities to enhance market reach and service capabilities [8] - The company aims to achieve positive operating income for the full fiscal year 2024 while maintaining tight cost controls [27] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving positive operating income for the full year and highlighted the importance of diligent balance sheet management [8][27] - The company is well-positioned to build on its momentum and expects to drive further growth through new technologies and improvements to its core software platform [4][27] Other Important Information - The company launched Anavio, a new cloud security platform, which aims to enhance user access control and situational awareness [23] - Inventories decreased to 8.7 million at September 30, 2023 [26] Q&A Session Summary - The conference call concluded with an invitation for participants to reach out to the investor relations firm for any unanswered questions [20]