CETXW - CETXW STOCK NEWS

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.

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.

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.

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.

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.