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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.
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Cemtrex Inc. (CETX) subsidiary Vicon Industries to showcase Anavio, an AI-powered unified cloud solution with face authentication and person tracking at ISC West 2024. The platform offers remote monitoring, face authentication, anti-spoofing technology, person of interest tracking, and emergency response capabilities. Vicon also introduces enhancements to its on-prem solution, Valerus VMS, and a new Roughneck® 4K PTZ camera.
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Cemtrex Inc. (NASDAQ: CETX) announces $2.1 million in new orders for its Advanced Industrial Services subsidiary, showcasing strong market position and growth prospects. Orders include projects for leading companies in printing, graphics, engineering, and construction, highlighting AIS's diverse service offerings. The company anticipates a record revenue year in 2024 with potential 30% annual growth. CEO Saagar Govil emphasizes AIS's expertise in plant services and equipment relocation, positioning the company for continued success.
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Cemtrex Inc. (NASDAQ: CETX) announces the upcoming beta release of its AI gun detection feature in the second quarter of 2024, a groundbreaking technology aimed at enhancing public safety by detecting armed persons in surveillance footage. The edge-based solution offers a cost-effective and efficient method to initiate specific responses upon detection, with full commercialization planned for the second half of 2024. The technology promises real-time alerts, rapid response, and significant advancements in security measures, addressing the pressing issue of gun violence in the United States. Vicon's innovative approach is set to revolutionize the market, providing organizations with the tools needed to enhance security protocols and prevent violent incidents proactively.
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Cemtrex Inc. completes restructuring in 2023, positioning AIS and Vicon segments for continued revenue growth and expanded profitability. The Chairman and CEO, Saagar Govil, issues a letter to shareholders outlining the company's progress and future plans.
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Cemtrex Inc. (CETX) reports a 41% increase in Q1’24 revenue to $16.9 million, with the Security segment up 31% and Industrial Services up 55%. Operating loss improved to $0.7 million. Vicon received a $0.8 million order and launched Anavio cloud security platform. AIS secured $3.8 million in new orders. Cash position was $4.0 million as of December 31, 2023.
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Cemtrex Inc. (NASDAQ: CETX, CETXP) to Discuss First Quarter Results in Conference Call on February 12, 2024
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Cemtrex Inc. (NASDAQ: CETX, CETXP) has received a $0.8 million second phase order to develop security technology for a New Jersey School District project. The order includes new solutions such as Valerus video management software and Roughneck cameras and servers. The project is expected to be fulfilled in the first and second quarters of calendar 2024. The demand for physical security equipment is on the rise, with Vicon's Security segment experiencing a 46% increase in revenues in FY'23, reaching $34.7 million. The market for physical security equipment is expected to reach $57.0 billion in 2024, with video surveillance growing at a CAGR of 8.2% to $33.0 billion. Vicon's expertise in security products and services positions them to potentially grow 15-20% on average over the next few years.
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Cemtrex Inc. (CETX) has announced receiving $3.8 million in new orders through its Advanced Industrial Services subsidiary. This includes a $2.2 million order for a geothermal system update for a Northeastern School District and a $1.6 million order for the fabrication of a key component for a motion control technologies company. The company's Advanced Industrial Services segment saw an 18% increase in revenues in FY'23, reaching $25.0 million. The escalating need for industrial services is being driven by the growing market towards $45.3 billion in 2028, with potential for 32% revenue growth in FY'24.
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Cemtrex Inc. (NASDAQ: CETX, CETXP) has scheduled a special meeting of stockholders of the Series 1 Preferred Stock to vote on amending the Company's Certificate of Designations, Preferences and Rights of Series 1 Preferred Stock to effect a reverse stock split and increase the liquidation value and voting rights. The Special Meeting was adjourned due to insufficient votes, with only 41.21% of eligible shareholders participating. The meeting will reconvene on Friday December 29, 2023, at 12:00 pm Eastern Time.
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Cemtrex Inc. (NASDAQ: CETX, CETXP) reported a 46% increase in Q4’23 revenue to $16.9M with 3rd consecutive quarter of positive operating income of $0.2M. Fiscal Full Year 2023 revenue increased 33% to $59.7M. Gross margin was up 680 basis points to 44% in FY’23. Cemtrex expects to file its Form 10-K with the SEC after the market close on Wednesday, December 27, 2023.
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FAQ
What is the current stock price of Cemtrex (CETXP)?
The current stock price of Cemtrex (CETXP) is $0.1628 as of February 3, 2025.
What is the market cap of Cemtrex (CETXP)?
The market cap of Cemtrex (CETXP) is approximately 743.4K.
What sectors does Cemtrex, Inc. operate in?
Cemtrex is active in smart technology, AR/VR, electronic systems, industrial solutions, and security systems.
What recent achievement has Cemtrex made?
Cemtrex completed restructuring, positioning its AIS and Vicon segments for revenue growth and operating profitability.
What milestone is Cemtrex set to achieve in Q2'24?
Cemtrex is launching an AI Gun Detection feature in the second quarter of 2024, enabling the identification of armed individuals in surveillance footage.
How is Cemtrex planning to utilize the proceeds from the public offering?
Cemtrex intends to use the net proceeds for operations, marketing efforts, existing business initiatives, product investments, and partial debt repayment.
What are the subsidiaries of Cemtrex, Inc.?
Cemtrex operates through its subsidiaries Vicon Industries, Inc., a leader in security technology, and Advanced Industrial Services, Inc., specializing in industrial contracting services.
How is Cemtrex positioned for growth and innovation?
Cemtrex's focus on technology sectors like smart technology, AR/VR, electronic systems, industrial solutions, and security systems drives its innovation and growth.
What can investors expect from Cemtrex in terms of revenue growth?
Cemtrex recently reported a 7% increase in Q2'24 revenue, showcasing the company's growth trajectory.
Where can I find more information about Cemtrex, Inc.?
For detailed insights on Cemtrex, visit the company's official website at www.cemtrex.com.
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