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Yahoo
28-05-2025
- Business
- Yahoo
Cemtrex's AIS secures $1.8M contract for wastewater treatment plant upgrade
Advanced Industrial Services was awarded a $1.84M contract by the City of Lancaster to upgrade critical infrastructure at its Advanced Wastewater Treatment Plant. This win adds to AIS's growing track record of delivering high-impact projects across the municipal and industrial sectors. Under Contract No. 2023-33-01, titled Advanced Wastewater Treatment Plant South Primary Clarifier Upgrades Project, AIS will replace process mechanical and electrical systems, rehabilitate clarifier structures, and modernize control systems for four primary clarifiers in the South Train of the City's AWWTP. The project is scheduled to be completed within one year of commencement during the City's 2025-2026 fiscal year. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See Insiders' Hot Stocks on TipRanks >> Read More on CETX: Disclaimer & DisclosureReport an Issue Cemtrex Holds Annual Shareholders Meeting, Elects Board Cemtrex reports Q2 EPS $4.10 vs. ($3,054.05) last year Cemtrex's Vicon secures STQC certification Cemtrex secures $1M security technology order Sign in to access your portfolio
Associated Press
15-05-2025
- Business
- Associated Press
Cemtrex Reports Second Quarter Fiscal Year 2025 Financial Results
Brooklyn, NY, May 15, 2025 (GLOBE NEWSWIRE) -- - Cemtrex Inc. (NASDAQ: CETX, CETXP), an advanced security technology and industrial services company, has reported its financial and operational results for the fiscal second quarter ended March 31, 2024. Key Highlights for Second Fiscal Quarter 2025 Management Commentary Cemtrex Chairman and CEO, Saagar Govil, commented on the results: 'We are extremely pleased with our strong second quarter performance, which reflects our team's sharp focus on execution and margin improvement. Both operating segments contributed to robust revenue growth, and we delivered a return to profitability on both an operating and net income basis. The improvement in gross margins, combined with disciplined expense management, enabled us to post over $8 million in net income this quarter. We believe this result marks an inflection point for Cemtrex. 'At Vicon, our Security segment, we benefited from the initial shipments of a record $10.4 million order and from the ramp-up of our new NEXT Modular Sensor System, which is now in full production. Our efforts to expand our presence in international markets are also beginning to show progress, with recent STQC certification in India positioning us for long-term growth in that region. Meanwhile, our Industrial Services segment, AIS, delivered solid 13% year-over-year growth and continues to execute well on large infrastructure and industrial projects.' 'We remain laser-focused on delivering shareholder value through improved profitability, strategic innovation, and operational discipline. With a strengthening balance sheet and a growing backlog, we believe we are positioned to sustain momentum through the second half of the fiscal year, and remain optimistic that fiscal 2025 financial performance will surpass fiscal 2024.' Segment Highlights: Vicon Industries: Advanced Industrial Services: As of March 31, 2025, cash and cash equivalents were $4.5 million, and total assets were $46.2 million. Inventories decreased to $6.1 million at March 31, 2025, from $7.0 million at September 30, 2024. Stockholders' equity improved to $6.4 million, exceeding Nasdaq's minimum continued listing standards. About Cemtrex Cemtrex, Inc. (Nasdaq: CETX) is a diversified technology company operating in the Security and Industrial sectors. Its Security segment, led by Vicon Industries, provides advanced video management software, high-performance security cameras, and integrated surveillance solutions for enterprise, government, and critical infrastructure. The Industrial segment, through Advanced Industrial Services (AIS), delivers expert rigging, millwrighting, process piping, and equipment installation services to manufacturers nationwide. With a focus on innovation, execution, and strategic growth, Cemtrex is committed to enhancing safety, efficiency, and value for its customers and shareholders. For more information visit Forward-Looking Statements This press release contains 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the closing of the offering, gross proceeds from the offering, our new product offerings, expected use of proceeds, or any proposed fundraising activities. These forward-looking statements are based on management's current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by such forward looking statements. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. These risks and uncertainties are discussed under the heading 'Risk Factors' contained in our Form 10-K filed with the Securities and Exchange Commission. All information in this press release is as of the date of the release and we undertake no duty to update this information unless required by law. Cemtrex, Inc. and Subsidiaries Condensed Consolidated Balance Sheets Cemtrex, Inc. and Subsidiaries Condensed Consolidated Statements of Operations (Unaudited) Cemtrex, Inc. and Subsidiaries Condensed Consolidated Statements of Cash Flows (Unaudited) Cemtrex, Inc. and Subsidiaries Condensed Consolidated Statements of Cash Flows (Continued) (Unaudited) Investor Relations [email protected]
Yahoo
15-05-2025
- Business
- Yahoo
Cemtrex Reports Second Quarter Fiscal Year 2025 Financial Results
Brooklyn, NY, May 15, 2025 (GLOBE NEWSWIRE) -- - Cemtrex Inc. (NASDAQ: CETX, CETXP), an advanced security technology and industrial services company, has reported its financial and operational results for the fiscal second quarter ended March 31, 2024. Key Highlights for Second Fiscal Quarter 2025 Revenue increased 59% to $27.3 million, compared to revenue in the prior year quarter of $17.2 million. Operating Income totaled $4.6 million, compared to an operating loss of $1 million in Q2 FY 2024. Net Income for the period was $8.4 million, compared to a net loss of $1.5 million in Q2 FY 2024. Gross profit margin increased to 45%, up from 40% in the prior year period. Stockholders equity rose to $6.4 million, up from $4.7 million at September 30th 2024. Management Commentary Cemtrex Chairman and CEO, Saagar Govil, commented on the results: 'We are extremely pleased with our strong second quarter performance, which reflects our team's sharp focus on execution and margin improvement. Both operating segments contributed to robust revenue growth, and we delivered a return to profitability on both an operating and net income basis. The improvement in gross margins, combined with disciplined expense management, enabled us to post over $8 million in net income this quarter. We believe this result marks an inflection point for Cemtrex. 'At Vicon, our Security segment, we benefited from the initial shipments of a record $10.4 million order and from the ramp-up of our new NEXT Modular Sensor System, which is now in full production. Our efforts to expand our presence in international markets are also beginning to show progress, with recent STQC certification in India positioning us for long-term growth in that region. Meanwhile, our Industrial Services segment, AIS, delivered solid 13% year-over-year growth and continues to execute well on large infrastructure and industrial projects.' 'We remain laser-focused on delivering shareholder value through improved profitability, strategic innovation, and operational discipline. With a strengthening balance sheet and a growing backlog, we believe we are positioned to sustain momentum through the second half of the fiscal year, and remain optimistic that fiscal 2025 financial performance will surpass fiscal 2024.' Segment Highlights: Vicon Industries: Revenue grew 110% year-over-year to $17.0 million, driven by execution of a large government order and increased demand for AI-enhanced security solutions. Gross margin improved to 52% from 51% in the prior year quarter. Operating income for the segment totaled $4.3 million, compared to a loss of $0.7 million a year ago. Advanced Industrial Services: Revenue increased 13% to $10.3 million, up from $9.1 million in the prior year period. Gross profit grew to $3.4 million, with gross margin improving to 33%. Operating income rose to $0.9 million from $0.7 million in Q2 FY2024. Metric Q2 FY2025 Q2 FY2024 % Change Revenue $27.3M $17.2M +59% Gross Profit $12.2M $6.9M +75% Gross Margin 45% 40% +500bps Operating Income $4.6M ($1.0M) N/A Net Income to CETX Shareholders $8.4M ($1.5M) N/A EPS (Basic & Diluted) $4.10 ($3,054.05) N/A As of March 31, 2025, cash and cash equivalents were $4.5 million, and total assets were $46.2 million. Inventories decreased to $6.1 million at March 31, 2025, from $7.0 million at September 30, 2024. Stockholders' equity improved to $6.4 million, exceeding Nasdaq's minimum continued listing standards. About Cemtrex Cemtrex, Inc. (Nasdaq: CETX) is a diversified technology company operating in the Security and Industrial sectors. Its Security segment, led by Vicon Industries, provides advanced video management software, high-performance security cameras, and integrated surveillance solutions for enterprise, government, and critical infrastructure. The Industrial segment, through Advanced Industrial Services (AIS), delivers expert rigging, millwrighting, process piping, and equipment installation services to manufacturers nationwide. With a focus on innovation, execution, and strategic growth, Cemtrex is committed to enhancing safety, efficiency, and value for its customers and shareholders. For more information visit Forward-Looking Statements This press release contains 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the closing of the offering, gross proceeds from the offering, our new product offerings, expected use of proceeds, or any proposed fundraising activities. These forward-looking statements are based on management's current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by such forward looking statements. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. These risks and uncertainties are discussed under the heading 'Risk Factors' contained in our Form 10-K filed with the Securities and Exchange Commission. All information in this press release is as of the date of the release and we undertake no duty to update this information unless required by law. Cemtrex, Inc. and SubsidiariesCondensed Consolidated Balance Sheets (Unaudited) March 31, September 30, 2025 2024 Assets Current assets Cash and cash equivalents $ 4,538,405 $ 3,897,511 Restricted cash 1,527,628 1,522,881 Trade receivables, net 12,715,992 11,159,676 Trade receivables, net - related party 550,613 685,788 Inventory, net 6,136,765 6,988,529 Contract assets, net 1,156,620 985,207 Prepaid expenses and other current assets 2,026,088 1,456,687 Total current assets 28,652,111 26,696,279 Property and equipment, net 9,813,887 9,133,578 Right-of-use operating lease assets 1,676,614 1,933,378 Royalties receivable, net - related party 272,423 456,611 Goodwill 3,708,347 3,708,347 Other 2,113,768 2,187,265 Total Assets $ 46,237,150 $ 44,115,458 Liabilities & Stockholders' Equity Current liabilities Accounts payable $ 4,001,843 $ 4,520,173 Sales tax payable 3,970 73,024 Revolving line of credit 2,867,425 3,125,011 Current maturities of long-term liabilities 9,301,045 4,732,377 Operating lease liabilities - short-term 829,644 832,823 Deposits from customers 182,855 408,415 Accrued expenses 2,764,172 1,393,902 Accrued payable on inventory in transit 242,303 640,450 Contract liabilities 1,924,425 1,254,204 Deferred revenue 1,179,536 1,297,616 Accrued income taxes 277,763 314,827 Total current liabilities 23,574,981 18,592,822 Long-term liabilities Long-term debt 9,492,824 13,270,178 Long-term operating lease liabilities 902,223 1,159,204 Other long-term liabilities 282,200 274,957 Deferred Revenue - long-term 509,882 658,019 Warrant liabilities 4,747,468 5,199,436 Total long-term liabilities 15,934,597 20,561,794 Total liabilities 39,509,578 39,154,616 Commitments and contingencies - - Stockholders' equity Preferred stock , $0.001 par value, 10,000,000 shares authorized, Series 1, 3,000,000 shares authorized, 2,579,994 shares issued and 2,515,894 shares outstanding as of March 31, 2025 and 2,456,827 shares issued and 2,392,727 shares outstanding as of September 30, 2024 (liquidation value of $10 per share) 2,580 2,457 Series C, 100,000 shares authorized, 50,000 shares issued and outstanding at March 31, 2025 and September 30, 2024 50 50 Common stock, $0.001 par value, 70,000,000 shares authorized, 1,784,581 shares issued and outstanding at March 31, 2025 and 14,176 shares issued and outstanding at September 30, 2024 1,785 14 Additional paid-in capital 95,879,333 73,262,536 Accumulated deficit (91,726,811 ) (71,355,386 ) Treasury stock, 64,100 shares of Series 1 Preferred Stock at March 31, 2025, and September 30, 2024 (148,291 ) (148,291 ) Accumulated other comprehensive income 2,394,376 2,949,297 Total Cemtrex stockholders' equity 6,403,022 4,710,677 Non-controlling interest 324,550 250,165 Total liabilities and stockholders' equity $ 46,237,150 $ 44,115,458 Cemtrex, Inc. and SubsidiariesCondensed Consolidated Statements of Operations (Unaudited) For the three months ended For the six months ended March 31, 2025 March 31, 2024 March 31, 2025 March 31, 2024 Revenues $ 27,250,269 $ 17,159,595 $ 40,990,168 $ 34,037,761 Cost of revenues 15,084,814 10,220,179 23,122,777 20,015,946 Gross profit 12,165,455 6,939,416 17,867,391 14,021,815 Operating expenses General and administrative 6,770,742 7,020,157 13,864,031 13,992,123 Research and development 777,889 951,400 1,667,972 1,800,205 Total operating expenses 7,548,631 7,971,557 15,532,003 15,792,328 Operating income/(loss) 4,616,824 (1,032,141 ) 2,335,388 (1,770,513 ) Other (expense)/income Other income, net (150,165 ) 144,765 (115,192 ) 223,176 Interest expense (452,998 ) (592,804 ) (936,911 ) (1,176,487 ) Loss on exercise of warrant liabilities - - (15,796,105 ) - Changes in fair value of warrant liability 4,707,374 - (5,312,838 ) - Total other income/(expense), net 4,104,211 (448,039 ) (22,161,046 ) (953,311 ) Net income/(loss) before income taxes 8,721,035 (1,480,180 ) (19,825,658 ) (2,723,824 ) Income tax expense 110,525 100,004 231,063 170,755 Income/(loss) from Continuing operations 8,610,510 (1,580,184 ) (20,056,721 ) (2,894,579 ) Income/(loss) from discontinued operations, net of tax 26,969 10,463 (240,319 ) 20,955 Net income/(loss) 8,637,479 (1,569,721 ) (20,297,040 ) (2,873,624 ) Less net income/(loss) in noncontrolling interest 254,537 (96,510 ) 74,385 (192,919 ) Net income/(loss) attributable to Cemtrex, Inc. stockholders $ 8,382,942 $ (1,473,211 ) $ (20,371,425 ) $ (2,680,705 ) Income/(loss) per share - Basic & Diluted Continuing Operations $ 4.10 $ (3,054.05 ) $ (10.62 ) $ (5,497.36 ) Discontinued Operations $ 0.01 $ 20.80 $ (0.13 ) $ 41.83 Weighted Average Number of Shares-Basic & Diluted 2,032,744 503 1,897,797 501 Cemtrex, Inc. and SubsidiariesCondensed Consolidated Statements of Cash Flows(Unaudited) For the six months ended March 31, 2025 2024 Cash Flows from Operating Activities Net loss $ (20,297,040 ) $ (2,873,624 ) Adjustments to reconcile net loss to net cash used by operating activities Depreciation and amortization 648,109 673,190 Loss on disposal of property and equipment 19,668 - Noncash lease expense 461,490 389,125 Goodwill impairment - - Bad debt expense 10,572 35,213 Contract modification - related party 280,545 - Share-based compensation 7,183 15,116 Income tax expense - (96,750 ) Shares issued to pay for services - 40,000 Accrued interest on notes payable 530,404 657,355 Non-cash royalty income (71,464 ) (26,564 ) Amortization of original issue discounts on notes payable 16,667 - Loan origination costs 5,000 36,267 Loss on exercise of warrant liabilities 15,796,105 - Changes in fair value of warrant liability 5,312,838 - Changes in operating assets and liabilities net of effects from acquisition of subsidiaries: Trade receivables (1,536,888 ) (2,317,074 ) Trade receivables - related party 66,057 (178,980 ) Inventory 851,764 1,341,472 Contract assets (171,413 ) (240,478 ) Prepaid expenses and other current assets (569,401 ) 482,853 Other assets 173,497 (225,853 ) Accounts payable (518,330 ) (455,315 ) Accounts payable - related party - 408 Sales tax payable (69,054 ) 1,658 Operating lease liabilities (464,886 ) (388,516 ) Deposits from customers (225,560 ) 150,274 Accrued expenses 972,123 (108,311 ) Contract liabilities 670,221 919,090 Deferred revenue (266,217 ) (252,109 ) Income taxes payable (38,617 ) (146,422 ) Other liabilities 7,243 (184,261 ) Net cash provided/(used) by operating activities 1,600,616 (2,752,236 ) Cash Flows from Investing Activities Purchase of property and equipment (1,359,963 ) (355,308 ) Proceeds from sale of property and equipment 13,511 - Royalties on related party revenues 10,000 - Investment in MasterpieceVR (100,000 ) (100,000 ) Net cash used by investing activities (1,436,452 ) (455,308 ) Cash Flows from Financing Activities Proceeds on revolving line of credit 18,925,223 19,360,672 Payments on revolving line of credit (19,182,809 ) (15,413,971 ) Payments on debt (240,510 ) (2,634,545 ) Payments on Paycheck Protection Program Loans (20,247 ) (20,242 ) Proceeds on bank loans - 28,331 Proceeds from notes payable 500,000 - Proceeds from warrant exercises 1,050,597 - Purchases of treasury stock - (69,705 ) Net cash provided by financing activities 1,032,254 1,250,540 Effect of currency translation (550,777 ) (304,022 ) Net increase/(decrease) in cash, cash equivalents, and restricted cash 1,196,418 (1,957,004 ) Cash, cash equivalents, and restricted cash at beginning of period 5,420,392 6,349,562 Cash, cash equivalents, and restricted cash at end of period $ 6,066,033 $ 4,088,536 Cemtrex, Inc. and SubsidiariesCondensed Consolidated Statements of Cash Flows (Continued)(Unaudited) Balance Sheet Accounts Included in Cash, Cash Equivalents, and Restricted Cash Cash and cash equivalents $ 4,538,405 $ 2,916,120 Restricted cash 1,527,628 1,172,416 Total cash, cash equivalents, and restricted cash $ 6,066,033 $ 4,088,536 Supplemental Disclosure of Cash Flow Information: Cash paid during the period for interest $ 389,840 $ 482,865 Cash paid during the period for income taxes, net of refunds $ 269,680 $ 146,422 Supplemental Schedule of Non-Cash Investing and Financing Activities Shares issued to pay for services $ - $ 40,000 Financing of fixed asset purchase $ - $ 28,331 Noncash recognition of new leases $ 204,726 $ - Series A Warrant Exercises $ 21,515,777 $ - CONTACT: Investor Relations investors@ in to access your portfolio
India.com
10-05-2025
- Business
- India.com
STQC Certification: Fortifying Indias Surveillance Infrastructure Amid Geopolitical Tensions
NEW DELHI: As India strides towards digital governance and smarter public safety frameworks, the role of Standardisation Testing and Quality Certification (STQC) has become increasingly vital in the surveillance industry. More than a hallmark of quality, STQC certification is a stringent, multi-layered process designed to test the security and integrity of surveillance products. Administered by the Ministry of Electronics and Information Technology (MeitY), STQC certification focuses on two critical dimensions: security testing and supply chain verification. Security testing assesses a system's resilience to cyber threats and unauthorized access, while supply chain verification ensures compliance with the Ministry of Home Affairs' Public Procurement Order (PPO) guidelines for essential security equipment. Together, these evaluations form a bulwark against vulnerabilities in systems that protect critical infrastructure, transportation hubs, and public spaces. "The surveillance sector is no longer just about watching: it's about securing data, networks, and national interests," said Aditya Khemka, Managing Director of CP PLUS. The emphasis on STQC certification reflects the government's push to create a self-reliant, secure digital infrastructure under initiatives like Digital India and Atmanirbhar Bharat. Khemka also echoed the urgency of compliance. "Compliance is no longer optional. As India pushes toward digitally integrated governance and smarter public safety, systems that don't meet standards simply don't make the cut," he said. "Choosing STQC-certified surveillance isn't just a strategic move; it's a responsible one." With rising cyberattacks and geopolitical tensions, stakeholders across public and private sectors are viewing STQC certification not just as a quality check, but as a national imperative. As India builds smarter cities and more connected ecosystems, STQC stands as a critical gatekeeper of trust and security.
The Hindu
26-04-2025
- Business
- The Hindu
Indian CCTV firms likely to benefit from U.S.-China direct trade war
The trade war between the United States and China is expected to create business opportunities for Indian CCTV makers to export to the U.S., which is perhaps the biggest market for the device in terms of value. Though the U.S. had banned Chinese made CCTV cameras in government procurement due to allegations of cybersecurity violations, the private sector sourced them. But this might decline due to steep tariffs. 'With this trade war going on between China and U.S., it brings in a huge opportunity for domestic manufacturers like us for even exporting to U.S.,' said Sanjeev Sehgal, Founder & Managing Director, Sparsh CCTV, among top three players in the segment. 'We are working hard toward how we can get maximum benefit out of it,' Mr. Sehgal told The Hindu. 'Because there is no clarity now, we need to see once all the things settle down and take a decision. So, we are seeing a good number of inquiries coming from U.S.,' he said. To start with, the firm would export to the U.S. and depending on the opportunity, it may set up a manufacturing unit there. Sparsh CCTV has already set up a subsidiary in the U.S. and is establishing a joint venture in Saudi Arabia to expand into those key markets. Expected surge The company, which started focusing on exports since January this year, is expecting its exports volume to surge from 1-2% of the turnover now to about 20% this fiscal year. India's decision to keep Chinese CCTV companies out of the domestic market by making it mandatory for suppliers to have Standardisation Testing and Quality Certification (STQC) is expected to benefit local firms ike Sparsh, which is the first entity to get such a certification. This requirement has come into force from April 9, 2025. New norms 'After the 9th of April, all CCTV cameras to be sold in India have to be certified as per the new BIS ER norms. So, only those CCTV cameras approved by BIS can be sold, hired, stored, or even given on lease in India,' Mr. Sehgal said. 'Which is basically the ER testing and certification from STQC, which is the testing standards and certification body under the Ministry of Electronics,' he added. Railways contract Stating that the government policy has started benefiting Indian firms, he said, 'We have got some major successes out of it. One of the major successes is railways. So, we are doing at almost 5,000 railway stations across India.' He said this regulation and export opportunity to the U.S. would lead to a 100% growth in the company's volumes this year. 'We believe that we should minimum grow by 100%, because with this new regulation coming in, most of the Chinese brands will not be able to get the certification. Because they [BIS] are asking for the source code and everything,' he said. Chinese control Chinese firms control 75% of India's estimated ₹12,000 crore CCTV market, which is growing at a CAGR of 20%. To cater to the demand, the company will be investing ₹300 crore in three years to expand capacity. This is projected to grow over 10 times from 1 million units a year to 1 million units a month in three to four years Mr. Sehgal said.
