ProfitScout
2日前
$CETX News: Cemtrex’s Advanced Industrial Services Secures $4.5 million Contract
Two Phase Project be Completed in the Company’s Fiscal Year 2025
Brooklyn, NY, Oct. 01, 2024 (GLOBE NEWSWIRE) -- - Cemtrex Inc. (NASDAQ: CETX, CETXP), an advanced security technology and industrial services company, today announced it has received a $4.5 million contract through its Advanced Industrial Services (“AIS”) subsidiary underscoring the Company’s strong market position and optimistic growth outlook. The contract award is for both Phase 1 and Phase 2 of the Department of General Services’ Elizabethtown Training Academy project.
Phase 1 of the project involves the complete renovation of the HVAC systems at the academy, while Phase 2 will focus on the renovation of the Boiler Plant and the Domestic/Fire Protection piping. These updates are expected to significantly enhance the facility’s energy efficiency, safety, and operational capabilities. The project is expected to be completed in the Company’s Fiscal Year 2025.
“This contract award reaffirms AIS’s optimistic growth outlook,” said Saagar Govil, Chairman and CEO of Cemtrex. “The company’s ability to secure this project is a direct result of the strategic acquisition, Heisey Mechanical, completed in 2023, which has expanded AIS’s capacity and capabilities. We are now beginning to see the benefits of that transaction, with contract awards like this one marking the early returns. AIS sees continued opportunity to pursue and expand into similar large-scale infrastructure projects in the future. We also continue to explore additional acquisition opportunities that can build on and accelerate our growth further.”
About Cemtrex
Cemtrex Inc. (CETX) is a company that owns two operating subsidiaries: Vicon Industries Inc and Advanced Industrial Services Inc.
Vicon Industries, a subsidiary of Cemtrex Inc., is a global leader in advanced security and surveillance technology to safeguard businesses, schools, municipalities, hospitals and cities. Since 1967, Vicon delivers mission-critical security surveillance systems, specializing in engineering complete security solutions that simplify deployment, operation and ongoing maintenance. Vicon provides security solutions for some of the largest municipalities and businesses in the U.S. and around the world, offering a wide range of cutting-edge and compliant security technologies, from AI-driven video analytics to fully integrated access control solutions. For more information visit www.vicon-security.com
AIS – Advanced Industrial Services, a subsidiary of Cemtrex, Inc., is a premier provider of industrial contracting services including millwrighting, rigging, piping, electrical, welding. AIS Installs high precision equipment in a wide variety of industrial markets including automotive, printing & graphics, industrial automation, packaging, and chemicals. AIS owns and operates a modern fleet of custom designed specialty equipment to assure safe and quick installation of your production equipment. Our talented staff participates in recurring instructional training, provided to ensure that the most current industry methods are being utilized to provide an efficient and safe working environment. For more information visit http://www.ais-york.com
For more information visit http://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.
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Investor Relations
Chris Tyson
Executive Vice President – MZ North America
Direct: 949-491-8235
CETX@mzgroup.us
www.mzgroup.us
Source: Cemtrex Inc.
ProfitScout
2月前
$CETX News: Cemtrex Reports Third Quarter 2024 Financial Results
Q3’24 Industrial Services Segment Revenue Increased 49% to $8.5M
News Link:
https://finance.yahoo.com/news/cemtrex-reports-third-quarter-2024-201000128.html
Hauppauge, NY, Aug. 14, 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 fiscal third quarter ended June 30, 2024.
Key Third Quarter FY 2024 and Subsequent Highlights
Revenue for Q3’24 was flat at $14.7 million, compared to revenue of $14.7 million for Q3’23. Security segment revenues decreased 31% to $6.2 million in Q3’24 due primarily to the delay of multiple projects for the segment’s products and services.Industrial Services segment revenues for Q3’24 increased 49% to $8.5 million, on increased demand and additional revenue from the Heisey Mechanical acquisition completed in Q4’23.
Revenue for the nine months ended June 30, 2024 increased 14% to $48.7 million, compared to revenue in the prior year period of $42.8 million. Security segment revenues for the nine months ended June 30, 2024, decreased 10% to $23.4 million compared to $25.9 million for the nine months ended June 30, 2023.Industrial Services segment revenues for the nine months ended June 30, 2024, increased 50% to $25.3 million compared to $16.8 million for the nine months ended June 30, 2023.
Closed $10 million upsized underwritten public offering to conduct operations, increase marketing efforts, invest in existing business initiatives and products, and for the partial repayment of indebtedness.
Cash, cash equivalents and restricted cash as of June 30, 2024 was $7.6 million, compared to $6.3 million as of September 30, 2023.
Management Commentary
Cemtrex Chairman and CEO, Saagar Govil, commented on the results: “In the third quarter we continued to see momentum in our segments, sustaining revenue year over year at $14.7 million. Significant demand for AIS products and services drove a 49% increase in revenue to $8.5 million, offset by decreases in Vicon revenue due to the delay of multiple projects and a weaker industrywide demand for security solutions.
“Operating loss for the third quarter was $3.2 million, compared to operating income of $0.1 million a year ago, mainly due to decreased gross profit in our Security segment and increased G&A expenses. The operating loss for the nine-month period was $5.0 million compared to $1.5 million a year ago, despite the higher sales. However, these results include approximately $2 million in one-time expenses related to the May 2024 equity financing, employee related one-time charges and legal expenses. Our goal of achieving a full year operating profit remains and we are working hard to drive revenue and maintain tight cost controls.
“In our Security segment, despite project delays, the team at Vicon continues to push the deployment of new technologies and products with investments into sales and marketing resources that we believe will drive sales over the next several quarters. We also were able to reduce our inventory by over $1 million this fiscal year as we strive to make our operations more efficient. We expect with the launch of the innovative new cloud security platform Anavio, along with new technologies and continued improvements to our core software platform Valerus, there is significant further opportunity to grow revenue and gross margin over the next several quarters.
“Our Industrial services segment delivered another strong quarter on orders from leading companies, building a pipeline of growth that we believe will produce a record year of revenue. We continue to believe with additional orders ahead, AIS has the potential to reach more than 30% annual revenue growth in FY’24, with further room for growth in FY 25.
“During the quarter we took the opportunity to improve our balance sheet with a $10 million upsized underwritten public offering, of which a portion of the proceeds were used to pay off some of our indebtedness. Looking ahead, we are now well positioned for additional growth and to reach our goal to achieve positive operating income in the future. The strengthened balance sheet also provides the ability to explore acquisition opportunities that can enhance our market reach and service capabilities, as we continue to seek long-term value for our shareholders,” concluded Govil.
Third Quarter FY 2024 Financial Results
Revenue for the three months ended June 30, 2024, and 2023 was $14.7 million and $14.7 million, respectively. The Security segment revenues for the three months ended June 30, 2024, decreased by 31% to $6.2 million. The Security segment decrease was due to the delay of multiple projects for the Security segment’s products and services and overall worsening economic conditions in the industry. The Industrial Services segment revenues for the third quarter increased by 49% to $8.5 million, mainly due to increased demand for the segment’s services as well as additional business from the Heisey acquisition completed during the fourth quarter of fiscal year 2023.
Gross Profit for the three months ended June 30, 2024, was $5.9 million, or 40% of revenues, as compared to gross profit of $6.5 million, or 44% of revenues, for the three months ended June 30, 2023.
Total operating expenses for three months ended June 30, 2024, were $9.1 million, compared to $6.4 million in the prior year’s quarter.
Operating loss for the third quarter of 2024 was $3.2 million as compared to an operating income of $0.1 million for the third quarter of 2023. The operating loss was primarily due to a decrease in gross profit in the Security segment and overall increased general and administration expenses.
Net loss for the quarter ended June 30, 2024 was $9.1 million, as compared to a net loss of $1.2 million in the prior year’s quarter.
Cash, cash equivalents and restricted cash totaled $7.6 million at June 30, 2024, as compared to $6.3 million at September 30, 2023.
Inventories decreased to $7.5 million at June 30, 2024, from $8.7 million at September 30, 2023.
Third Quarter FY 2024 Results Conference Call
Cemtrex Chief Executive Officer Saagar Govil and Chief Financial Officer Paul Wyckoff will host the conference call, followed by a question-and-answer period.
To access the call, please use the following information:
Date: Wednesday, August 14, 2024
Time: 5:00 p.m. Eastern time, 2:00 p.m. Pacific time
Toll-free dial-in number: 1-800-717-1738
International dial-in number: 1-646-307-1865
Conference ID: 1123331
Please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact MZ Group at 1-949-491-8235.
The conference call will be broadcast live and available for replay at https://viavid.webcasts.com/starthere.jsp?ei=1684288&tp_key=6a1e8a9870 and via the investor relations section of the Company's website at http://www.cemtrex.com.
A replay of the conference call will be available after 8:00 p.m. Eastern time through August 28, 2024.
Toll-free replay number: 1-844-512-2921
International replay number: 1-412-317-6671
Replay ID: 1123331
About Cemtrex
Cemtrex Inc. (CETX) is a company that owns two operating subsidiaries: Vicon Industries Inc and Advanced Industrial Services Inc.
Vicon Industries, a subsidiary of Cemtrex Inc., is a global leader in advanced security and surveillance technology to safeguard businesses, schools, municipalities, hospitals and cities. Since 1967, Vicon delivers mission-critical security surveillance systems, specializing in engineering complete security solutions that simplify deployment, operation and ongoing maintenance. Vicon provides security solutions for some of the largest municipalities and businesses in the U.S. and around the world, offering a wide range of cutting-edge and compliant security technologies, from AI-driven video analytics to fully integrated access control solutions. For more information visit http://www.vicon-security.com
AIS – Advanced Industrial Services, a subsidiary of Cemtrex, Inc., is a premier provider of industrial contracting services including millwrighting, rigging, piping, electrical, welding. AIS Installs high precision equipment in a wide variety of industrial markets including automotive, printing & graphics, industrial automation, packaging, and chemicals. AIS owns and operates a modern fleet of custom designed specialty equipment to assure safe and quick installation of your production equipment. Our talented staff participates in recurring instructional training, provided to ensure that the most current industry methods are being utilized to provide an efficient and safe working environment. For more information visit http://www.ais-york.com
For more information visit http://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.
ProfitScout
2月前
$CETX News: Cemtrex to Host Fiscal Third Quarter 2024 Financial Results Conference Call on Wednesday, August 14, 2024 at 5:00 p.m. Eastern Time
Hauppauge, NY, Aug. 09, 2024 (GLOBE NEWSWIRE) -- - Cemtrex Inc. (NASDAQ: CETX, CETXP), an advanced security technology and industrial services company, will hold a conference call on Wednesday, August 14, 2024 at 5:00 p.m. Eastern time to discuss its results for the fiscal third quarter ended June 30, 2024. 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 question-and-answer period.
To access the call, please use the following information:
Date: Wednesday, August 14, 2024
Time: 5:00 p.m. Eastern time, 2:00 p.m. Pacific time
Toll-free dial-in number: 1-800-717-1738
International dial-in number: 1-646-307-1865
Conference ID: 1123331
Please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact MZ Group at 1-949-491-8235.
The conference call will be broadcast live and available for replay at https://viavid.webcasts.com/starthere.jsp?ei=1684288&tp_key=6a1e8a9870 and via the investor relations section of the Company's website at www.cemtrex.com.
A replay of the conference call will be available after 8:00 p.m. Eastern time through August 28, 2024.
Toll-free replay number: 1-844-512-2921
International replay number: 1-412-317-6671
Replay ID: 1123331
About Cemtrex
Cemtrex Inc. (CETX) is a company that owns two operating subsidiaries: Vicon Industries Inc and Advanced Industrial Services Inc.
Vicon Industries, a subsidiary of Cemtrex Inc., is a global leader in advanced security and surveillance technology to safeguard businesses, schools, municipalities, hospitals and cities. Since 1967, Vicon delivers mission-critical security surveillance systems, specializing in engineering complete security solutions that simplify deployment, operation and ongoing maintenance. Vicon provides security solutions for some of the largest municipalities and businesses in the U.S. and around the world, offering a wide range of cutting-edge and compliant security technologies, from AI-driven video analytics to fully integrated access control solutions. For more information visit http://www.vicon-security.com
AIS – Advanced Industrial Services, a subsidiary of Cemtrex, Inc., is a premier provider of industrial contracting services including millwrighting, rigging, piping, electrical, welding. AIS Installs high precision equipment in a wide variety of industrial markets including automotive, printing & graphics, industrial automation, packaging, and chemicals. AIS owns and operates a modern fleet of custom designed specialty equipment to assure safe and quick installation of your production equipment. Our talented staff participates in recurring instructional training, provided to ensure that the most current industry methods are being utilized to provide an efficient and safe working environment. For more information visit http://www.ais-york.com
For more information visit http://www.cemtrex.com.
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Investor Relations
Chris Tyson
Executive Vice President – MZ North America
Direct: 949-491-8235
CETX@mzgroup.us
www.mzgroup.us
Source: Cemtrex Inc.
ProfitScout
3月前
$CETX getting more attention as a result of the Donald Trump shooting incident. Security and Gun Detection technologies will certainly be in growing demand.
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Cemtrex Inc. (CETX) is a company that owns two operating subsidiaries: Vicon Industries Inc and Advanced Industrial Services Inc.
Vicon Industries, a subsidiary of Cemtrex Inc., is a global leader in advanced security and surveillance technology to safeguard businesses, schools, municipalities, hospitals and cities. Since 1967, Vicon delivers mission-critical security surveillance systems, specializing in engineering complete security solutions that simplify deployment, operation and ongoing maintenance. Vicon provides security solutions for some of the largest municipalities and businesses in the U.S. and around the world, offering a wide range of cutting-edge and compliant security technologies, from AI-driven video analytics to fully integrated access control solutions. For more information visit http://www.vicon-security.com
AIS – Advanced Industrial Services, a subsidiary of Cemtrex, Inc., is a premier provider of industrial contracting services including millwrighting, rigging, piping, electrical, welding. AIS Installs high precision equipment in a wide variety of industrial markets including automotive, printing & graphics, industrial automation, packaging, and chemicals. AIS owns and operates a modern fleet of custom designed specialty equipment to assure safe and quick installation of your production equipment. Our talented staff participates in recurring instructional training, provided to ensure that the most current industry methods are being utilized to provide an efficient and safe working environment. For more information visit http://www.ais-york.com
For more information visit http://www.cemtrex.com.
ProfitScout
5月前
$CETX News: Cemtrex Reports Second Quarter 2024 Financial Results
Q2’24 Revenue Increased 7% to $17.2M; Management to Host Conference Call Today at 5:00 p.m. ET
Hauppauge, NY, May 14, 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 fiscal second quarter ended March 31, 2024.
Key Second Quarter FY 2024 and Subsequent Highlights
Revenue for Q2’24 increased 7% to $17.2 million, compared to revenue of $16.1 million for Q2’23. Security segment revenues decreased 18% to $8.1 million in Q2’24 due to the delay of certain projects for the segment’s products and services.Industrial Services segment revenues for Q2’24 increased 47% to $9.1 million, on increased demand and additional revenue from the Heisey Mechanical acquisition completed in Q4’23.
Security segment revenues for the six months ended March 31, 2024, increased 2% to $17.3 million compared to $16.9 million for the six months ended March 31, 2023. This increase was due to an increased demand for the Security segment’s products and services.
Industrial Services segment revenues for the six months ended March 31, 2024, increased 51%, to $16.8 million compared to $11.1 million for the six months ended March 31, 2023.
Closed $10 million upsized underwritten public offering to conduct operations, increase marketing efforts, invest in existing business initiatives and products, and for the partial repayment of indebtedness.
Cash, cash equivalents and restricted cash as of March 31, 2024 was $4.1 million.
Management Commentary
Cemtrex Chairman and CEO, Saagar Govil, commented on the results: “The second quarter was highlighted by new technology deployments and continued overall growth in our business. Revenue in the quarter grew 7% to $17.2 million, driven by strong demand for AIS products and services, with Industrial Services segment revenue increasing 47% to $9.1 million. For Vicon, although the quarter was affected by the delay of some of its projects, for the half fiscal year the segment is still growing year over year. Operating loss for the second quarter was $1.0 million, compared to operating income of $0.4 million a year ago, mainly due to decreased gross profit in our Security segment and increased payroll expenses. The operating loss for the six month period was $1.8 million compared to $1.5 million a year ago, despite the higher sales. However, these results include approximately $1 million in one-time expenses from employee related charges and legal expenses that we do not anticipate incurring in the future. Our goal of reaching a full year operating profit remains and we are working hard to drive revenue and maintain tight cost controls.
“Turning to our Security segment, Vicon continued to push the deployment of new technologies and products, including its innovative new cloud security platform Anavio. The platform enables users to manage their access control, video, and intercom via a single tool, so there’s no shuffling between separate security systems in order to achieve complete situational awareness and control. New features include face authentication that ensures only authorized people can access facilities, and a powerful ‘person of interest’ feature, whereby users can forensically track a specific person (or people) throughout a facility. We continue to make investments into our sales and marketing resources in the segment to drive further sales over the next several quarters. We also were able to reduce our inventory by over $1 million of this fiscal year as we strive to make our operations more efficient. With the launch of Anavio along with new technologies and continued improvements to our core software platform Valerus, we expect to drive further growth and see additional opportunity to grow gross margin in 2024.
“AIS and our Industrial services segment captured new orders from leading companies, building a pipeline of growth that we believe will produce a record year of revenue. We continue to believe with additional orders ahead, AIS has the potential to reach more than 30% annual revenue growth in FY’24. During the quarter AIS secured orders including a $1.6 million order for two relocation projects from a leading printing and graphics company, and a $0.5 million order to remove existing equipment for an engineering and construction company, affirm AIS’ commitment to delivering excellence across its service offerings.
“Looking ahead, strengthened by an improved balance sheet from our $10 million upsized underwritten public offering, of which a portion of the proceeds were used to pay off some of our indebtedness, we are well positioned to build on our momentum and remain focused on our goal to achieve positive operating income in fiscal year 2024 on a full year basis. We continue to explore acquisition opportunities that can enhance our market reach and service capabilities, and further drive growth in the months and years ahead,” concluded Govil.
Second Quarter FY 2024 Financial Results
Revenue for the three months ended March 31, 2024, and 2023 was $17.2 million and $16.1 million, respectively, an increase of 7%. The Security segment revenues for the three months ended March 31, 2024, decreased by 18% to $8.1 million. The Security segment decrease was due to the delay of multiple projects for the Security segment’s products and services. The Industrial Services segment revenues for the second quarter increased by 47% to $9.1 million, mainly due to increased demand for the segment’s services as well as additional business from the Heisey acquisition completed during the fourth quarter of fiscal year 2023.
Gross Profit for the three months ended March 31, 2024, was $6.9 million, or 40% of revenues, as compared to gross profit of $7.3 million, or 46% of revenues, for the three months ended March 31, 2023.
Total operating expenses for three months ended December 31, 2023, were $8.0 million, compared to $7.0 million in the prior year’s quarter.
Operating loss for the second quarter of 2024 was $1.0 million as compared to an operating income of $0.4 million for the second quarter of 2023. The operating loss was primarily due to a decrease in gross profit in the Security segment and overall increased payroll expenses.
Net loss for the quarter ended March 31, 2024 was $1.6 million, as compared to a net loss of $0.5 million in 2023.
Cash, cash equivalents and restricted cash totaled $4.1 million at March 31, 2024, as compared to $6.3 million at September 30, 2023.
Inventories decreased to $7.4 million at March 31, 2024, from $8.7 million at September 30, 2023.
Second Quarter FY 2024 Results Conference Call
Cemtrex Chief Executive Officer Saagar Govil and Chief Financial Officer Paul Wyckoff will host the conference call, followed by a question-and-answer period.
To access the call, please use the following information:
Date: Tuesday, May 14, 2024
Time: 5:00 p.m. Eastern time, 2:00 p.m. Pacific time
Toll-free dial-in number: 1-800-717-1738
International dial-in number: 1-646-307-1865
Conference ID: 1182838
Please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact MZ Group at 1-949-491-8235.
The conference call will be broadcast live and available for replay at https://viavid.webcasts.com/starthere.jsp?ei=1668765&tp_key=084fe1071c and via the investor relations section of the Company's website at http://www.cemtrex.com.
A replay of the conference call will be available after 8:00 p.m. Eastern time through May 28, 2024.
Toll-free replay number: 1-844-512-2921
International replay number: 1-412-317-6671
Replay ID: 1182838
About Cemtrex
Cemtrex Inc. (CETX) is a company that owns two operating subsidiaries: Vicon Industries Inc and Advanced Industrial Services Inc.
Vicon Industries, a subsidiary of Cemtrex Inc., is a global leader in advanced security and surveillance technology to safeguard businesses, schools, municipalities, hospitals and cities. Since 1967, Vicon delivers mission-critical security surveillance systems, specializing in engineering complete security solutions that simplify deployment, operation and ongoing maintenance. Vicon provides security solutions for some of the largest municipalities and businesses in the U.S. and around the world, offering a wide range of cutting-edge and compliant security technologies, from AI-driven video analytics to fully integrated access control solutions. For more information visit www.vicon-security.com
AIS – Advanced Industrial Services, a subsidiary of Cemtrex, Inc., is a premier provider of industrial contracting services including millwrighting, rigging, piping, electrical, welding. AIS Installs high precision equipment in a wide variety of industrial markets including automotive, printing & graphics, industrial automation, packaging, and chemicals. AIS owns and operates a modern fleet of custom designed specialty equipment to assure safe and quick installation of your production equipment. Our talented staff participates in recurring instructional training, provided to ensure that the most current industry methods are being utilized to provide an efficient and safe working environment. For more information visit http://www.ais-york.com
For more information visit http://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.
ProfitScout
5月前
$CETX News: Cemtrex to Host Fiscal Second Quarter 2024 Financial Results Conference Call on Tuesday, May 14, 2024 at 5:00 p.m. Eastern Time
Hauppauge, NY, May 09, 2024 (GLOBE NEWSWIRE) -- - Cemtrex Inc. (NASDAQ: CETX, CETXP), an advanced security technology and industrial services company, will hold a conference call on Tuesday, May 14, 2024 at 5:00 p.m. Eastern time to discuss its results for the fiscal second quarter ended March 31, 2024. 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 question-and-answer period.
To access the call, please use the following information:
Date: Tuesday, May 14, 2024
Time: 5:00 p.m. Eastern time, 2:00 p.m. Pacific time
Toll-free dial-in number: 1-800-717-1738
International dial-in number: 1-646-307-1865
Conference ID: 1182838
Please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact MZ Group at 1-949-491-8235.
The conference call will be broadcast live and available for replay at https://viavid.webcasts.com/starthere.jsp?ei=1668765&tp_key=084fe1071c and via the investor relations section of the Company's website at www.cemtrex.com.
A replay of the conference call will be available after 8:00 p.m. Eastern time through May 28, 2024.
Toll-free replay number: 1-844-512-2921
International replay number: 1-412-317-6671
Replay ID: 1182838
About Cemtrex
Cemtrex Inc. (CETX) is a company that owns two operating subsidiaries: Vicon Industries Inc and Advanced Industrial Services Inc.
Vicon Industries, a subsidiary of Cemtrex Inc., is a global leader in advanced security and surveillance technology to safeguard businesses, schools, municipalities, hospitals and cities. Since 1967, Vicon delivers mission-critical security surveillance systems, specializing in engineering complete security solutions that simplify deployment, operation and ongoing maintenance. Vicon provides security solutions for some of the largest municipalities and businesses in the U.S. and around the world, offering a wide range of cutting-edge and compliant security technologies, from AI-driven video analytics to fully integrated access control solutions. For more information visit www.vicon-security.com
AIS – Advanced Industrial Services, a subsidiary of Cemtrex, Inc., is a premier provider of industrial contracting services including millwrighting, rigging, piping, electrical, welding. AIS Installs high precision equipment in a wide variety of industrial markets including automotive, printing & graphics, industrial automation, packaging, and chemicals. AIS owns and operates a modern fleet of custom designed specialty equipment to assure safe and quick installation of your production equipment. Our talented staff participates in recurring instructional training, provided to ensure that the most current industry methods are being utilized to provide an efficient and safe working environment. For more information visit www.ais-york.com
For more information visit www.cemtrex.com.
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Investor Relations
Chris Tyson
Executive Vice President – MZ North America
Direct: 949-491-8235
CETX@mzgroup.us
www.mzgroup.us
Source: Cemtrex Inc.
ProfitScout
5月前
Cemtrex, Inc. Announces Closing of $10 Million Upsized Underwritten Public Offering
Hauppauge, NY, May 03, 2024 (GLOBE NEWSWIRE) -- – Cemtrex, Inc. (Nasdaq: CETX) (the “Company”), an advanced security technology and industrial services company, today announced the closing of a firm commitment underwritten public offering with gross proceeds to the Company of approximately $10 million, before deducting underwriting discounts and other estimated expenses payable by the Company. The offering was upsized from $9 million. The base offering consisted of 11,764,705 Common Units or Pre-Funded Units, each consisting of one share of common stock (“Common Share”) or one Pre-Funded Warrant, one Series A Warrant to purchase one Common Share at an exercise price of $0.85 per share or pursuant to an alternative cashless exercise option, which warrant will expire two-and-a-half years from the closing date of this offering (the “Series A Warrant”) and one Series B Warrant to purchase one Common Share at an exercise price of $0.85 per share, which warrant will expire on the five-year anniversary of the closing date of this offering (the “Series B Warrants” and together with the Series A Warrants, the “Warrants”). The purchase price of each Common Unit was $0.85, and the purchase price of each Pre-Funded Unit was $0.849 (which is equal to the public offering price per Common Unit minus $0.001). The Pre-Funded Warrants will be immediately exercisable and may be exercised at any time until all the Pre-Funded Warrants are exercised in full.
The Company intends to use the net proceeds from this offering to conduct operations, increase marketing efforts, invest in existing business initiatives and products, and for the partial repayment of indebtedness. The Company may also use a portion of the net proceeds of this offering to acquire or invest in complementary businesses, products, or technologies, or to obtain the right to use such complementary technologies.
In addition, the Company granted Aegis Capital Corp. a 45-day option to purchase additional Common Shares and/or Warrants, representing up to 15% of the number of securities sold in the offering, solely to cover over-allotments, if any.
The closing of the offering occurred on May 3, 2024, subject to the satisfaction of customary closing conditions.
Aegis Capital Corp. acted as the sole book-running manager for the Offering. The Doney Law Firm acted as counsel to the Company for the offering. Kaufman & Canoles, P.C. served as counsel to Aegis Capital Corp. for the offering.
The offering was made pursuant to an effective registration statement on Form S-1 (No. 333-276556) previously filed with the U.S. Securities and Exchange Commission (the “SEC”) and declared effective by the SEC on April 30, 2024. A preliminary prospectus (the “Preliminary Prospectus”) describing the terms of the proposed offering was filed with the SEC and is available on the SEC’s website located at www.sec.gov. A final prospectus (the “Final Prospectus”) relating to and describing the terms of the offering will be filed with the SEC and will be available on the SEC’s website located at www.sec.gov. Electronic copies of the Preliminary Prospectus and Final Prospectus, when available, may be obtained by contacting Aegis Capital Corp., Attention: Syndicate Department, 1345 Avenue of the Americas, 27th floor, New York, NY 10105, by email at syndicate @RAREBREED. Before investing in this offering, interested parties should read in their entirety the registration statement and the Preliminary Prospectus and the other documents that the Company has filed with the SEC that are incorporated by reference in such registration statement and the Preliminary Prospectus, which provide more information about the Company and the offering.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Cemtrex
Cemtrex Inc. (CETX) is a company that owns two operating subsidiaries: Vicon Industries, Inc. (“Vicon”) and Advanced Industrial Services, Inc. (“AIS”).
Vicon is a global leader in advanced security and surveillance technology to safeguard businesses, schools, municipalities, hospitals and cities. Since 1967, Vicon has delivered mission-critical security surveillance systems, specializing in engineering complete security solutions that simplify deployment, operation and ongoing maintenance. Vicon provides security solutions for some of the largest municipalities and businesses in the U.S. and around the world, offering a wide range of cutting-edge and compliant security technologies, from AI-driven video analytics to fully integrated access control solutions. For more information visit http://www.vicon-security.com.
AIS is a premier provider of industrial contracting services including millwrighting, rigging, piping, electrical, welding. AIS installs high precision equipment in a wide variety of industrial markets including automotive, printing & graphics, industrial automation, packaging, and chemicals. AIS owns and operates a modern fleet of custom-designed specialty equipment to assure safe and quick installation of production equipment. AIS staff participates in recurring instructional training, provided to ensure that the most current industry methods are being utilized to provide an efficient and safe working environment. For more information visit http://www.ais-york.com.
For more information visit http://www.cemtrex.com.
Forward-Looking Statements
The information contained herein may contain “forward-looking statements.” Forward-looking statements reflect the current view about future events. When used in this press release, the words “anticipate,” “believe,” “estimate,” “expect,” “future,” “intend,” “plan,” or the negative of these terms and similar expressions, as they relate to the Company or its management, identify forward-looking statements. Such statements include, but are not limited to, statements contained in this press release relating to anticipated use of proceeds. Forward-looking statements are based on the Company’s current expectations and assumptions regarding its business, the economy, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Preliminary Prospectus. The Company’s actual results may differ materially from those contemplated by the forward-looking statements. They are neither statements of historical fact nor guarantees of assurance of future performance. Readers are cautioned against relying on any of these forward-looking statements. Factors or events that could cause the Company’s actual results to differ may emerge from time to time, and it is not possible for the Company to predict all of them. The Company cannot guarantee future results, levels of activity, performance, or achievements. Except as required by applicable law, including the securities laws of the United States, the Company does not intend to update any of the forward-looking statements. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release.
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Company Contact:
Investor Relations
Chris Tyson
Executive Vice President
MZ North America
Direct: 949-491-8235
CETX@mzgroup.us
www.mzgroup.us
Source: Cemtrex Inc.
jedijazz
7月前
$CETX News: Cemtrex’s Advanced Industrial Services Secures New Orders Totaling $2.1 Million
Cemtrex Inc.
Mon, Mar 11, 2024, 8:45 AM EDT
Hauppauge, NY, March 11, 2024 (GLOBE NEWSWIRE) -- - Cemtrex Inc. (NASDAQ: CETX, CETXP), an advanced security technology and industrial services company, today announced it has received $2.1 million in new orders through its Advanced Industrial Services (“AIS”) subsidiary underscoring the Company’s strong market position and optimistic growth outlook. These orders, including a $1.6 million order for two relocation projects from a leading printing and graphics company, and a $0.5 million order to remove existing equipment for an engineering and construction company, affirm AIS’ commitment to delivering excellence across its service offerings.
Scheduled for completion within this fiscal year, these projects will leverage AIS’s comprehensive suite of services, including mechanical, electrical, piping, and project management. This approach not only demonstrates AIS’s capability to handle complex industrial requirements but also reinforces its position as a preferred partner in the industry. Details of the customers were not provided due to confidentiality agreements in place.
“AIS continues to capture orders from leading companies, building a pipeline of growth that we believe will produce a record year of revenue for the Company in 2024,” said Saagar Govil, Chairman and CEO of Cemtrex. “AIS’ expertise and capabilities in plant and equipment erection, relocation, and disassembly attracts a variety of companies across the country to help facilitate these types of projects. In the last few years, companies have been increasingly adjusting production capacity with demand, including adding new machinery or equipment being taken out of service and relocated to other locations. We also believe that continued reshoring of manufacturing to the US will play a key role in AIS’ long-term growth, with additional similar relocation wins. Taken together, we continue to believe with additional orders ahead, AIS has the potential to reach more than 30% annual revenue growth in FY’24. Moreover, we continue to explore acquisition opportunities that can enhance the Company’s market reach and service capabilities, and further drive AIS’ growth.”
About Cemtrex
Cemtrex Inc. (CETX) is a company that owns two operating subsidiaries: Vicon Industries Inc and Advanced Industrial Services Inc.
Vicon Industries, a subsidiary of Cemtrex Inc., is a global leader in advanced security and surveillance technology to safeguard businesses, schools, municipalities, hospitals and cities. Since 1967, Vicon delivers mission-critical security surveillance systems, specializing in engineering complete security solutions that simplify deployment, operation and ongoing maintenance. Vicon provides security solutions for some of the largest municipalities and businesses in the U.S. and around the world, offering a wide range of cutting-edge and compliant security technologies, from AI-driven video analytics to fully integrated access control solutions. For more information visit www.vicon-security.com
AIS – Advanced Industrial Services, a subsidiary of Cemtrex, Inc., is a premier provider of industrial contracting services including millwrighting, rigging, piping, electrical, welding. AIS Installs high precision equipment in a wide variety of industrial markets including automotive, printing & graphics, industrial automation, packaging, and chemicals. AIS owns and operates a modern fleet of custom designed specialty equipment to assure safe and quick installation of your production equipment. Our talented staff participates in recurring instructional training, provided to ensure that the most current industry methods are being utilized to provide an efficient and safe working environment. For more information visit www.ais-york.com
For more information visit 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
ProfitScout
7月前
$CETX News: Cemtrex Announces Beta Release of Pioneering AI Gun Detection Feature
Disruptive Artificial Intelligence (AI) Gun Detection Feature to Launch in the Second Calendar Quarter of 2024, Marking a Significant Milestone Achievement for Detecting Armed Persons in Surveillance Footage
Hauppauge, NY, March 06, 2024 (GLOBE NEWSWIRE) -- - Cemtrex Inc. (NASDAQ: CETX, CETXP), an advanced security technology and industrial services company, today announced that its subsidiary, Vicon, is expected to commence the beta release of its innovative Artificial Intelligence (AI) gun detection feature in the second calendar quarter of 2024, marking a significant milestone in public safety and security technology. This groundbreaking feature is designed to function on edge devices, offering a low-cost, high-efficiency solution for detecting armed persons in surveillance footage and enhancing the capabilities of video management systems to initiate specific responses upon detection.
The introduction of this AI feature, with full commercialization planned for the second half of 2024, is part of Vicon’s commitment to developing cutting-edge solutions that meet the dynamic needs of our customers. This commercialization strategy allows for gathering real-world insights and refining the technology based on feedback from live environments, ensuring the delivery of a superior product experience. Current solutions on the market are generally server-based which are extremely cost prohibitive and difficult to deploy, whereas Vicon’s approach for an edge-based solution, offers a more effective alternative.
Vicon, in collaboration with its technology partners, is developing this feature to provide real-time alerts and facilitate rapid response, thereby playing a crucial role in enhancing security measures and potentially preventing violent incidents before they occur. The value of integrating gun detection technology into video surveillance systems offers significant advancements in the ability of organizations to protect their premises and the people within them, providing peace of mind in increasingly uncertain times.
"Our goal is not only to innovate but to make a meaningful contribution to public safety," said Saagar Govil, CEO of Cemtrex. "The early adoption and feedback through our beta release are vital in shaping a solution that truly meets societal needs. By making advanced gun detection technology accessible and affordable, we aim to equip organizations with the tools they need to enhance their security protocols and respond more effectively to potential threats."
Gun violence remains a pressing issue in the United States, with provisional data for 2022 from the Centers for Disease Control and Prevention highlighting the urgent need for innovative solutions:
Over 48,000 firearm-related deaths, including nearly 20,000 homicides, were recorded in the U.S.
An average, 132 Americans died from a firearm-related injury each day, with hundreds more shot and injured.
Guns remained the leading cause of death for children and teens, climbing 87% in the last decade.
Recent years have seen a stark increase in school shootings, with 2021, 2022 and 2023 all setting records since at least 2008. There were at least 82 incidents in 2023, but 2022 was one of the deadliest years, with 46 fatalities, according to CNN.
Vicon's AI gun detection technology aims to contribute significantly to efforts to reduce gun violence and its devastating impact on communities across the nation. The Company sees the market opportunity for this feature to be vast, ranging from schools, hospitals, government buildings, retail, to religious institutions.
About Cemtrex
Cemtrex Inc. (CETX) is a company that owns two operating subsidiaries: Vicon Industries Inc and Advanced Industrial Services Inc.
Vicon Industries, a subsidiary of Cemtrex Inc., is a global leader in advanced security and surveillance technology to safeguard businesses, schools, municipalities, hospitals and cities. Since 1967, Vicon delivers mission-critical security surveillance systems, specializing in engineering complete security solutions that simplify deployment, operation and ongoing maintenance. Vicon provides security solutions for some of the largest municipalities and businesses in the U.S. and around the world, offering a wide range of cutting-edge and compliant security technologies, from AI-driven video analytics to fully integrated access control solutions. For more information visit www.vicon-security.com
AIS – Advanced Industrial Services, a subsidiary of Cemtrex, Inc., is a premier provider of industrial contracting services including millwrighting, rigging, piping, electrical, welding. AIS Installs high precision equipment in a wide variety of industrial markets including automotive, printing & graphics, industrial automation, packaging, and chemicals. AIS owns and operates a modern fleet of custom designed specialty equipment to assure safe and quick installation of your production equipment. Our talented staff participates in recurring instructional training, provided to ensure that the most current industry methods are being utilized to provide an efficient and safe working environment. For more information visit www.ais-york.com
For more information visit 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.
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Investor Relations
Chris Tyson
Executive Vice President – MZ North America
Direct: 949-491-8235
CETX@mzgroup.us
www.mzgroup.us
Source: Cemtrex Inc.
ProfitScout
7月前
$CETX News: Cemtrex Issues Shareholder Letter and Provides Corporate Update
Completed Restructuring in 2023 Now Positions AIS and Vicon Segments for Continued Revenue Growth and Expanded Operating Profitability
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 generate attractive returns for all of you as we go forward. I also wanted to take this opportunity to talk a little bit more in depth about our Company in a way that might provide additional insight into why management has made some of the decisions we have, and how management views the current opportunities in our portfolio.
Over the last five years we have made a number of different investments. Some have proven to be quite fruitful while others, unfortunately, have not led to great results. We cannot change the missteps we have taken, but we have certainly learned from them and learned how to avoid them in the future. While we remain bullish in the emerging opportunities that Cemtrex invested in over the last five years, like Virtual Reality and SmartDesk, it became readily apparent that we could not effectively drive the best outcomes with these long-term investments due to the enormous cash requirements and operating losses that would be required to see these through. Private companies have certain luxuries that public companies do not have when it comes to building startups, particularly in rising interest rate environments. As a result, we made the difficult but ultimately correct decision to exit these businesses.
Looking ahead, we can confidently say that the path we are on today is clearer than ever, with the highest assurance of success that we have had since the Company’s inception. But what does success mean? For us, a company over the long term should be able to generate a higher return with its cash than would be possible by investing it in the S&P 500 index. Everything starts with this fundamental premise. Sadly, today there are many public companies that do not meet this test, including ours in recent years. Over the last ten years, despite making several smart decisions, we made some unforced errors which resulted in relinquishing any positive returns in our common stock that could have been realized. However, despite these setbacks we remain well poised for a positive turnaround on this front. Based on the numerous changes over the last twenty four months and restructuring of our business that we undertook in November of 2022, I am confident that we are on the right track to start consistently driving above average returns. Let’s dive into why that is the case:
With the restructuring completed Cemtrex owns two great businesses: Vicon Industries, Inc. (“Vicon”) which comprises our Security segment, and Advanced Industrial Services, Inc. (“AIS”) which comprises our Industrial segment.
When we make an investment, we primarily look at two measures of capital return efficiency. The first is with respect to our investment. What is the cash-on-cash return of the investment over its life compared to the S&P 500? Additionally, we look at, on an annual basis, what is the Annual Net Income against the starting FY Shareholder’s Equity in the business?
We acquired AIS during our FY 2016 for a total purchase price of $7,500,000. Out of that purchase price, Cemtrex contributed $1,000,000 of equity, which was paid in the form of Cemtrex stock. The balance of the purchase price was financed through debt. Looking at the Net Income of the business, excluding the unusual benefits of COVID-19 relief programs like PPP that took place in 2021, the cumulative return on that investment over the eight years we have owned AIS has been $8,628,084 or 863%. When that cumulative return is averaged over the 8 years ownership it represents a 108% annual return on Cemtrex’s invested capital.
Furthermore, when we look at our second measure for this business, the annual return on equity, we see additional encouraging results. The annual return on beginning shareholder’s equity for AIS, on average, over the last 8 years, again excluding PPP benefits in 2021, has been approximately 35%. This important measure encourages management to continue investing its equity into this business to drive outsized returns. Additional factors that make AIS an attractive business are: 1) approximately 70% of our sales come from repeat customers we do business with; 2) attractive 30%+ gross margins that we see further opportunity to drive higher as we grow the business; 3) the macro-economic factors in the U.S. that are driving growth, including increased infrastructure spending and reshoring of manufacturing.
For FY 2023, AIS produced strong results, with sales reaching $25 million compared to $21.2 million for the prior year, an increase of 18%. Additionally, operating income increased from $.6 million in FY 2022 to $3.1 million in FY 2023, representing a 400% increase in operating earnings for the period.
Regarding our Security segment, let’s focus on our investment in Vicon of which we own 95%. Cemtrex has invested approximately $22.95 million of its own cash into Vicon, as debt and equity, to date over the five years of ownership, including the cost of acquiring the shares of the business as well as additional investments made into the company to grow it. At the time our initial investment was made the market cap of the company was approximately $5.5 million. Today, with the company doing $34.7 million in annual revenue and three sequential quarters of operating profit in FY 2023, we can conservatively estimate the enterprise value of Vicon to be substantially higher than when we made our investment and our return on equity, when annualized over the 5 years of ownership, far exceeds the competing return on the S&P 500.
In FY 2023, Vicon produced significantly better results, with sales growing from $23.8 million in FY 2022 to $34.7 million in FY 2023, an increase of 46%. Gross Profit improved from $8.5 million in FY 2022 to $15.6 million in FY 2023, an increase of 85%. The operating loss at Vicon was reduced from $6.1 million in FY 2022 to $0.6 million in FY 2023, a reduction of 92%, and the Company has had an operating profit three of the last four quarters.
The exciting part is that we believe relative to our current investment, limited additional capital, if any, will be required on Cemtrex’s behalf to drive further growth at Vicon. Based on the continued opportunity for growth, we believe that Vicon has tremendous potential to increase its enterprise value over the next five years that would maintain or exceed the annual return on our capital. This will be accomplished primarily by driving further topline growth, increasing operating profits, and scaling Annual Recurring Revenue (“ARR”) products that we believe can drive multiple expansion.
In our segment reporting we now carve out our Corporate costs, essentially the costs to manage these portfolio companies and the costs of being a public company, as a separate segment so that it is easier for our shareholders to better ascertain the underlying performance of the businesses we own. The Corporate costs today reduce our operating income meaningfully, but as we scale the business these costs will continue to remain at low levels relative to our earnings.
As legendary investor Peter Lynch said, “Often, there is no correlation between the success of a company’s operations and the success of its stock over a few months or even a few years. In the long term, there is a 100% correlation between the success of a company and the success of its stock.” Our goal going forward is to leverage our capital in a way to drive excellent operating results and thus deliver exceptional returns on our investments over time. We remain confident that as we stay on this path the consistent results in the business will begin to be reflected in our stock.
All the above certainly doesn’t summarize all the accomplishments that have taken place within our Company this past year. We have added a number of talented employees, restructured some of our debt to give us greater flexibility for growth, completed an important acquisition at AIS, and launched several exciting products at Vicon that will set it on a path for long term success for years to come. We feel, based on the results above, that FY 2023 represents a key turning point for us, as we have a renewed focus, clarity, and resolve to deliver exceptional results going forward.
Sincerely,
Saagar Govil
Chairman and Chief Executive Officer
About Cemtrex
Cemtrex Inc. (CETX) is a company that owns two operating subsidiaries: Vicon Industries Inc and Advanced Industrial Services Inc.
Vicon Industries, a subsidiary of Cemtrex Inc., is a global leader in advanced security and surveillance technology to safeguard businesses, schools, municipalities, hospitals and cities. Since 1967, Vicon delivers mission-critical security surveillance systems, specializing in engineering complete security solutions that simplify deployment, operation and ongoing maintenance. Vicon provides security solutions for some of the largest municipalities and businesses in the U.S. and around the world, offering a wide range of cutting-edge and compliant security technologies, from AI-driven video analytics to fully integrated access control solutions. For more information visit www.vicon-security.com
AIS – Advanced Industrial Services, a subsidiary of Cemtrex, Inc., is a premier provider of industrial contracting services including millwrighting, rigging, piping, electrical, welding. AIS Installs high precision equipment in a wide variety of industrial markets including automotive, printing & graphics, industrial automation, packaging, and chemicals. AIS owns and operates a modern fleet of custom designed specialty equipment to assure safe and quick installation of your production equipment. Our talented staff participates in recurring instructional training, provided to ensure that the most current industry methods are being utilized to provide an efficient and safe working environment. For more information visit www.ais-york.com
For more information visit http://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.
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Investor Relations
Chris Tyson
Executive Vice President – MZ North America
Direct: 949-491-8235
CETX@mzgroup.us
www.mzgroup.us
Source: Cemtrex Inc.
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