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Cemtrex, Inc. (NASDAQ:CETX) is a diversified technology company leading innovation across various sectors like smart technology, AR/VR, electronic systems, industrial solutions, and security systems. With recent restructuring, the company's AIS and Vicon segments are set for revenue growth and profitability. Cemtrex also plans to launch an AI Gun Detection feature in Q2'24, a milestone in identifying armed individuals in surveillance footage.
Furthermore, Cemtrex recently announced a firm commitment underwritten public offering to raise approximately $10 million. The company intends to utilize the net proceeds for operations, marketing, existing initiatives, product investments, and debt repayment. With a global presence, Cemtrex Inc. operates through its subsidiaries Vicon Industries, Inc., a leader in security technology, and Advanced Industrial Services, Inc., specializing in industrial contracting services.
Cemtrex Inc. (NASDAQ: CETX) reported its Q3 2024 financial results. Revenue remained flat at $14.7 million, with the Industrial Services segment growing 49% to $8.5 million, offset by a 31% decrease in the Security segment to $6.2 million. The company reported an operating loss of $3.2 million, compared to an operating income of $0.1 million in Q3 2023. Cemtrex closed a $10 million public offering to support operations and partially repay debt. Cash and equivalents stood at $7.6 million as of June 30, 2024. Despite challenges, management remains focused on achieving full-year operating profit through revenue growth and cost control measures.
Cemtrex Inc. (NASDAQ: CETX, CETXP), an advanced security technology and industrial services company, has announced a conference call to discuss its fiscal third quarter 2024 financial results. The call is scheduled for Wednesday, August 14, 2024, at 5:00 p.m. Eastern time. CEO Saagar Govil and CFO Paul Wyckoff will host the event, which will include a Q&A session.
Investors can access the call using the toll-free number 1-800-717-1738 (US) or 1-646-307-1865 (International) with Conference ID 1123331. The call will be broadcast live and available for replay at the company's website. A replay will be accessible until August 28, 2024, using dedicated replay numbers.
Cemtrex (NASDAQ: CETX, CETXP) reported its Q2 2024 financial results, noting a 7% YoY revenue increase to $17.2 million.
The Security segment's revenue fell 18% to $8.1 million due to project delays, while the Industrial Services segment's revenue surged 47% to $9.1 million, driven by increased demand and contributions from Heisey Mechanical acquisition.
Despite the higher sales, the company saw a $1.0 million operating loss versus a $0.4 million operating income in Q2 2023, attributed to reduced gross profit in the Security segment and higher payroll expenses.
Net loss for the quarter was $1.6 million, compared to a $0.5 million loss in Q2 2023.
The company completed a $10 million public offering to boost operations and partially repay debt, with cash reserves at $4.1 million as of March 31, 2024.
Cemtrex Inc. (NASDAQ: CETX, CETXP) will host a conference call on May 14, 2024, to discuss its fiscal second-quarter results. The call will be led by CEO Saagar Govil and CFO Paul Wyckoff. The results will be issued in a press release prior to the call. Interested parties can access the call through provided information. A replay will be available after the call.
Cemtrex, Inc. announced the closing of an upsized underwritten public offering, raising approximately $10 million in gross proceeds. The offering was increased from $9 million and consisted of Common Units and Pre-Funded Units. Each Common Unit was priced at $0.85, while each Pre-Funded Unit was priced at $0.849. The Company plans to use the net proceeds for operations, marketing, business initiatives, product investment, and partial debt repayment. Aegis Capital Corp. was granted a 45-day option to purchase additional Common Shares and/or Warrants.
Cemtrex, Inc. announced the pricing of an upsized underwritten public offering, expecting gross proceeds of approximately $10 million. The Company plans to use the net proceeds for operations, marketing efforts, investment in existing initiatives, partial debt repayment, and potential acquisition of complementary businesses. The offering consists of Common Units and Pre-Funded Units, with Aegis Capital Corp. as the sole book-running manager. The closing is expected on May 3, 2024.
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