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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.
Cemtrex Inc. (NASDAQ: CETX, CETXP, CETXW) has announced that its subsidiary Virtual Driver Interactive (VDI) is now offering the Driving Essentials XE program on the latest gaming consoles, Sony PS5 and Microsoft Xbox Series X. This program addresses the impact of the COVID-19 pandemic on driver education, enabling teens to practice safe driving at home. Priced at $29, the program includes 10 lessons covering various driving scenarios, including inclement weather and complex traffic situations, enhancing training options for parents and teens.
Cemtrex Inc. (NASDAQ: CETX, CETXP, CETXW) has announced the acquisition of Virtual Driver Interactive (VDI), a leading provider of driver training simulation solutions, on October 23, 2020. This strategic move aims to enhance Cemtrex's augmented and virtual reality growth segment and VR training product line. VDI, known for its effective training systems with over $2 million annual revenue and 2,000 installations across the US, will help Cemtrex leverage next-generation solutions in training. The acquisition is expected to be accretive to non-GAAP earnings per share and cash flow starting Q1 FY2021.
Cemtrex Inc. (NASDAQ: CETX, CETXP, CETXW) has received a $500,000 order for upgrading a security technology system at a Tennessee corrections facility. This upgrade will enhance the existing system with over 1,000 cameras and state-of-the-art software. CEO Saagar Govil noted that this order reflects a positive outlook for their Security Technology segment, showcasing a year-on-year increase in orders. The shipment is scheduled for October 2020, and this order supports the anticipated top-line growth for Cemtrex in FY 2021 as the market continues to recover.
Cemtrex Inc. (NASDAQ: CETX, CETXP, CETXW) announced the appointment of Priscilla Popov as the new Chief Financial Officer, effective September 30, 2020. She takes over from Aron Govil, who will remain as a consultant until the end of fiscal year 2021. Popov brings over 20 years of experience in finance and accounting, having held senior positions at several notable companies. The transition comes as the company anticipates continued growth, particularly with its Vicon security technology and the upcoming launch of the SmartDesk product.
Cemtrex Inc. (NASDAQ: CETX, CETXP, CETXW) will host a virtual roadshow webinar on October 6, 2020, at 1:00 p.m. Eastern time. CEO Saagar Govil will discuss market opportunities and revenue growth strategies. Participants can join via a provided webcast link or dial-in. A replay will be available post-event until October 20, 2020. The event aims to engage investors and highlight Cemtrex's advancements in IoT, augmented reality, and artificial intelligence across multiple sectors.
Cemtrex Inc. (CETX, CETXP, CETXW) announced a $500,000 contract awarded to its subsidiary, Vicon, for its Thermal Body Temperature Measurement Camera. This advanced technology aims to aid schools in detecting elevated body temperatures and ensuring safety as they reopen post-COVID-19. The cameras will be deployed across various district schools, providing contactless temperature screenings with an accuracy of ±0.54° F. Cemtrex emphasizes that this technology will play a vital role in future epidemic management, enhancing its core business growth.
Cemtrex Inc. has announced the launch of its new Vicon Thermal Sensor models, featuring advanced surveillance solutions designed for various facilities. The VTR-3000 and VTR-6000 series offer 360-degree monitoring capabilities, with ranges of 250 meters and 500 meters respectively, ideal for private airports and large construction sites. These sensors can replace up to 8 traditional cameras, improving cost-effectiveness and operational efficiency. Enhanced features include fire detection and better image clarity, addressing critical infrastructure needs.
Cemtrex Inc. (Nasdaq: CETX, CETXP, CETXW) has been invited to the LD 500 Virtual Investor Conference from September 1-4, 2020. Chairman and CEO Saagar Govil will present and hold one-on-one meetings. The company reported fiscal nine-month revenues of $32.7 million, up 16% year-over-year, and introduced new products under its Vicon security technology brand, including a thermal camera for COVID-19 symptom detection. The SmartDesk will also be launched as a new IoT product aimed at personal workspaces.
For details on the conference, visit: LD 500 Webcast.
Cemtrex Inc. (CETX, CETXP, CETXW) reported financial results for the quarter ending June 30, 2020, revealing a 16% year-over-year revenue increase, totaling $32.77 million for nine months. The third-quarter revenue decreased by 23% to $8.44 million due to COVID-19 impacts. Despite operating losses, the company achieved a gross margin of 43% and secured over $10 million in institutional funding, enhancing cash reserves. Management is optimistic about future growth as customer operations resume and new products, including AI camera technology, are launched.
Cemtrex Inc. (CETX) has secured a $1 million order for a sophisticated video surveillance security system, including Valerus software and hardware, for a large correctional facility in the UK. The order will be fulfilled within the current quarter. This development showcases Cemtrex's capabilities in the security technology segment, reinforcing its position in the Internet of Things and AI markets. The specifics of the client remain confidential due to privacy agreements.
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