Cemtrex Inc. Announces Preliminary Financial Results for the Fiscal Year Ended September 30, 2016
October 26, 2016 at 09:00 am
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Cemtrex Inc. announced preliminary financial results for the fiscal year ended September 30, 2016. For the year, the company anticipates that consolidated sales will be in the range of $93 million to $95 million and net income will be in the range of $4.8 million to $5.0 million. The company anticipates that EBITDA will be in the range of $6.6 to $7.0 million compared to $3.9 million a year ago and that earnings per share will increase to $0.52 per share based on approximately 9.4 million shares outstanding as compared to $0.40 per share in last fiscal year based on approximately 7.0 million shares outstanding. These preliminary financial results represent the most current information available to management and are subject to completion of the company's customary year-end closing and review procedures, as well as the completion of the audit by the company's independent auditor.
Cemtrex, Inc. is an advanced security technology and industrial services company. The Company's segments include Security and Industrial Services. The Security segment operates under the Vicon Industries brand, which provides end-to-end security solutions to corporate, industrial, and governmental security. Vicon's products include browser-based video monitoring systems and analytics-based recognition systems, cameras, servers, and access control systems for security and surveillance. Vicon provides mission-critical security and video surveillance solutions utilizing artificial intelligence (AI) based data algorithms. The Industrial Services segment operates under the brand, Advanced Industrial Services (AIS), that offers services for rigging, millwrighting, in plant maintenance, equipment erection, relocation, and disassembly to diversified customers. The Company also operates as a service contractor and steel fabricator that specializes in industrial and water treatment markets.