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CEMTREX INC. - CETX STOCK NEWS

Welcome to our dedicated page for CEMTREX news (Ticker: CETX), a resource for investors and traders seeking the latest updates and insights on CEMTREX stock.

Cemtrex Inc. (Nasdaq: CETX) is a diversified technology company that is making significant strides across multiple industries. With a strong focus on advancing smart technology, virtual and augmented realities, advanced electronic systems, industrial solutions, and intelligent security systems, Cemtrex is at the forefront of innovation. The company operates primarily in three segments: Security, Industrial Services, and Corporate.

Cemtrex's Security segment, which generates the most revenue, includes Vicon Industries, a global leader in advanced security and surveillance technology. Vicon provides comprehensive security solutions for businesses, schools, municipalities, hospitals, and cities. The company is known for its AI-driven video analytics and integrated access control solutions.

In the Industrial Services segment, Cemtrex owns Advanced Industrial Services (AIS), a premier provider of industrial contracting services. AIS offers services such as millwrighting, rigging, piping, electrical, and welding. The company is well-equipped to install high-precision equipment in various industrial markets, including automotive, printing and graphics, industrial automation, packaging, and chemicals.

Geographically, Cemtrex operates in the USA, UK, and India, with the majority of its revenue generated in the USA. The company has recently made headlines with several substantial orders and strategic initiatives, including:

  • A $2.2 million order for a geothermal system update for a Northeastern school district.
  • A $1.6 million order for a key component for a motion control technologies company.
  • A new suite of AI-based analytics from the Roughneck AI Camera Series and Valerus Video Management Software Solutions for a New Jersey school district.

Financially, Cemtrex reported a 41% increase in Q1’24 revenue to $16.9 million and a 7% increase in Q2’24 revenue to $17.2 million. The company recently completed a restructuring in 2023, positioning its AIS and Vicon segments for continued revenue growth and expanded operating profitability.

Additionally, Cemtrex is set to launch a disruptive AI gun detection feature in the second quarter of 2024, marking a significant milestone in the field of surveillance technology.

The company has also announced a public offering with gross proceeds expected to be approximately $10 million. The proceeds will be used for operations, marketing, investment in existing business initiatives, partial repayment of debt, and potential acquisitions of complementary businesses or technologies.

For more information, visit the company’s websites: Cemtrex, Vicon, and AIS.

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Cemtrex (NASDAQ: CETX, CETXP) announced a $0.8 million order for Vicon surveillance technology to be installed in a new Category C prison in the U.K. This facility will hold 1,400 prisoners and is designed to be zero-carbon, featuring an all-electric setup with solar panels and energy-efficient systems. The Vicon system includes advanced video surveillance capabilities using the Valerus Video Management System and Roughneck cameras. Cemtrex aims for a 16% revenue growth to reach $28 million this year, driven by increasing demand for cutting-edge security solutions in correctional facilities.

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Cemtrex Inc. (NASDAQ: CETX, CETXP) announced the release of enhanced AI-based analytics for its Vicon Roughneck® AI Camera series, improving its unified VMS platform. The new release, Valerus 23.1, features advanced object classification and tracking, allowing for more efficient searches and real-time notifications for significant events. Key advantages include edge-based analytics, object-based recording, and plug-and-play installation, enhancing the camera's functionality while saving on server resources and storage costs. This release marks the start of Cemtrex’s AI roadmap aimed at transforming the security industry.

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Cemtrex Inc. (NASDAQ: CETX, CETXP) reported a 27% revenue increase for Q1’23, reaching $12.0 million, boosted by a 61% rise in its security segment. Gross margin improved to 42%, up 790 basis points from the prior year. Operating loss declined by 41% to $2.0 million, indicating operational efficiencies. The company executed a 1-for-35 reverse stock split and regained compliance with Nasdaq listing requirements. A $1.5 million order from Vicon Industries for security solutions highlights ongoing demand. Despite a slight revenue decline in the industrial services sector, growth is anticipated for FY 2023 with forecasted revenue of $21.8 million.

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Cemtrex Inc. (NASDAQ: CETX, CETXP) announced on February 9, 2023, that it has regained compliance with Nasdaq's minimum bid price requirement, necessary for continued listing. This follows a prior notification on January 26, 2023, indicating non-compliance, but Cemtrex was granted until July 24, 2023, to meet this requirement. The company implemented a 1-for-35 reverse stock split effective January 25, 2023, resulting in trading under a new CUSIP number, 15130G 709. Cemtrex's subsidiaries include Vicon Industries, a leader in security technology, and Advanced Industrial Services, which provides industrial contracting services.

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Cemtrex Inc. (CETX, CETXP) announced a conference call scheduled for February 14, 2023, at 5:00 p.m. Eastern time to discuss its Q1 financial results for the period ending December 31, 2022. CEO Saagar Govil and CFO Paul Wyckoff will lead the call, which will include a Q&A session. Participants can access the call through a toll-free number or via an online link, with a replay available after the event until February 28, 2023. Cemtrex operates through Vicon Industries and Advanced Industrial Services, focusing on security technology and industrial contracting services, respectively.

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Cemtrex Inc. (NASDAQ: CETX, CETXP) has announced the postponement of its planned reverse stock split to January 25, 2023. This action aims to comply with the Nasdaq Capital Market's minimum share price requirement. The reverse stock split will combine every thirty-five shares into one, reducing the total outstanding shares from approximately 27.8 million to about 793,682. Shareholders will receive details from Clear Trust, LLC regarding the exchange process. The split will not change shareholders' percentage interests but may affect stock option shares and exercise prices.

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Cemtrex is implementing a 35-for-1 reverse stock split, effective January 23, 2023, to comply with Nasdaq's minimum share price requirements. This will reduce the number of outstanding shares from approximately 27.8 million to approximately 793,682. Each shareholder will see their shares consolidated, but their ownership percentage remains unaffected, aside from potential fractional share adjustments. The company’s stock will continue trading under the symbol CETX but will have a new CUSIP number. Shareholders will receive further instructions from the transfer agent, Clear Trust, regarding share exchanges.

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Cemtrex (NASDAQ: CETX, CETXP) announced a $1.5 million order from a large border protection customer in Texas to enhance its security technology systems. The order involves the installation of new surveillance equipment, specifically Roughneck multi-sensor cameras and servers, which offer advanced features such as low-light imaging and analytics for proactive monitoring. This contract is expected to be fulfilled in Q1 2023 and reflects increasing demand for video surveillance solutions.

CEO Saagar Govil highlighted the ongoing growth in the surveillance industry, supported by the company's positive revenue outlook.

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Cemtrex Inc. (CETX, CETXP) reported a 17% revenue increase for FY 2022, totaling $50.3 million. The company undertook a strategic divestiture of non-core assets and executed a restructuring plan, resulting in projected annual overhead savings of $6.2 million. The Advanced Technologies segment grew 20%, reaching $29.1 million, driven by demand for Vicon products. Although net loss widened to $13 million, the company anticipates operational improvements and revenue growth in FY 2023, projecting Vicon revenues of approximately $28 million.

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FAQ

What is the current stock price of CEMTREX (CETX)?

The current stock price of CEMTREX (CETX) is $2.94 as of December 24, 2024.

What is the market cap of CEMTREX (CETX)?

The market cap of CEMTREX (CETX) is approximately 2.1M.

What industries does Cemtrex Inc. operate in?

Cemtrex operates in various industries including smart technology, virtual and augmented realities, advanced electronic systems, industrial solutions, and intelligent security systems.

What are the key segments of Cemtrex Inc.?

Cemtrex’s key segments are Security, Industrial Services, and Corporate, with the Security segment generating the most revenue.

What recent achievements has Cemtrex Inc. made?

Recent achievements include a $2.2 million order for a geothermal system update, a $1.6 million order for a motion control technologies component, and a new suite of AI-based analytics for a New Jersey school district.

How did Cemtrex perform financially in Q1 and Q2 of 2024?

Cemtrex’s Q1’24 revenue increased by 41% to $16.9 million, and Q2’24 revenue increased by 7% to $17.2 million.

What new product is Cemtrex launching in 2024?

Cemtrex is launching an AI gun detection feature in the second quarter of 2024.

Where does Cemtrex primarily generate its revenue?

Cemtrex primarily generates its revenue in the USA, with additional operations in the UK and India.

What is the purpose of Cemtrex's recent public offering?

The recent public offering aims to raise approximately $10 million for operations, marketing, investment in business initiatives, and potential acquisitions.

What subsidiaries does Cemtrex own?

Cemtrex owns Vicon Industries and Advanced Industrial Services (AIS).

What services does Advanced Industrial Services (AIS) provide?

AIS provides industrial contracting services like millwrighting, rigging, piping, electrical, and welding, and installs high-precision equipment in various industrial markets.

Where can I find more information about Cemtrex?

More information is available on their websites: Cemtrex (www.cemtrex.com), Vicon (www.vicon-security.com), and AIS (www.ais-york.com).

CEMTREX INC.

Nasdaq:CETX

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