Cemtrex announces Q3 results

Cemtrex, Inc. (Nasdaq: CETX, CETXP, CETXW), world multi-industry technology company that provides a wide array of solutions to meet today´s consumer, commercial, and industrial challenges, has announced its third quarter consolidated results of operations for the three and nine months ended June 30, 2018, the company said.

Net sales for the three months ended June 30, 2018 were USD 19,164,314 which comprised of USD 11,216,531 in Electronics Manufacturing, USD 7,647,445 in Industrial Technology and USD 330,338 in Advanced Technologies, and representing a decrease of 31% from USD 27,806,656 in sales for the three months ended March 31, 2017, comprising of USD 14,339,173 in Electronics Manufacturing and USD 13,467,483 in Industrial Technology.

Research and development (R&D) expenses were USD 2.3 million (11.7% of revenue) during the third quarter ended June 30, 2018, as compared to no expenses during the quarter ended June 30, 2017. The company continues to invest in R&D to increase the depth as well as range of the offering in “Smart” products and Virtual Reality applications.

Net Loss for the three months ended June 30, 2018 was USD 2,583,211 down by 318% as compared to net income of USD 1,182,582 for three months ended March 31, 2017.

Earnings per share for the three months ended June 30, 2018 decreased to USD (0.30) per share as compared to USD 0.04 per share for the three months ended June 30, 2017.

Adjusted EBITDA was income of USD 1,914,235 in the third quarter ended June 30, 2018 as compared to USD 1,903,342 in the third quarter ended June 30, 2017 which represents slight improvement.

Cemtrex is the manufacturer of the SmartDesk, the world´s most advanced workstation. Cemtrex is a diversified technology company that´s driving innovation in a wide range of sectors, including smart technology, virtual and augmented realities, advanced electronic systems, industrial solutions, and intelligent security systems.