CEMTREX REPORTS HIGHLY SUCCESSFUL Q1 2014, WITH SURGING SALES DRIVING MORE THAN 300% GROWTH
Cemtrex, Inc. (OTC: CTEI) (www.cemtrex.com) announced its first quarter consolidated results of operations for the three months ended December 31, 2013.
First Quarter Highlights:
Net sales for three months ended December 31, 2013 increased by 310%, to $8,964,380 from $2,186,332 for the three months ended December 31, 2012. The Company had net profit of $416,552, for the three-month period ended December 31, 2013, as compared to a net income of $166,915 for the three months ended December 31, 2012, representing an increase of 150%.
Saagar Govil, Chief Executive Officer of Cemtrex, commented, “This record-setting first quarter for us was due to both organic growth amongst our existing businesses and our recent acquisition of ROB. Our team is executing at a high level and we are in a great position for continued high growth. I am extremely confident in our business plan and our strategy to deliver unparalleled results for our shareholders.”
Cemtrex completed the acquisition of the German-based ROB Group of companies, a leading full-service electronics manufacturer, on October 31st, 2013.