FARMINGDALE, N.Y., Aug. 11, 2011 — Cemtrex Inc. (OTC: CTEI) today announced its third quarter consolidated results of operations for the nine months ended June 30, 2011.
Third Quarter Highlights:
- Revenue increased by 816% to $6,001,792 in third quarter ended June 30, 2011 compared to $654,721 in third quarter ended June 30, 2010.
- Net Income was $428,452 in third quarter ended June 30, 2011 compared to a loss of $114,770 in third quarter ended June 30, 2010.
- Revenue increased by 333% to $11,077,595 for the nine-month period ended June 30, 2011 compared to $2,559,972 in the nine-month period ended June 30, 2010.
- Net Income was $813,553 in the nine-month period ended June 30, 2011 compared to a loss of $306,087 in the nine-month period ended June 30, 2010.
Commenting on the quarterly results, Mr. Arun Govil, President and Chief Executive Officer of the Company, remarked, "We are pleased with this turnaround to profitability and are confident in our ability to create sustainable profitability for the long term."
Cemtrex Inc. through its subsidiaries is a worldwide market leader in manufacturing and selling the most advanced equipment and systems for stack gas emission monitoring, air filtration and other environmental control products in a wide variety of industries, including power plants, refineries, chemical, steel and cement plants. Cemtrex also markets Green DCV, an innovative energy efficiency solution for high-quality green building applications.
Safe Harbor Statement
This press release contains forward-looking statements. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date.
For further information, please contact:
Cemtrex Inc.
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