Welcome to our dedicated page for Cemtrex news (Ticker: CETX), a resource for investors and traders seeking the latest updates and insights on Cemtrex stock.
Cemtrex, Inc. (NASDAQ: CETX) is frequently described in its public communications as a diversified industrial and technology company with operations in Security, Industrial services, and Aerospace & Defense. The CETX news feed on Stock Titan aggregates company-issued updates and related coverage so readers can follow how Cemtrex’s segment mix, acquisitions, and capital structure evolve over time.
Recent news highlights include multiple registered direct offerings of common stock and pre-funded warrants under an effective Form S-3 shelf registration statement, with stated uses of proceeds for general corporate purposes, working capital, and potential acquisitions. Filings and press releases also describe a 1-for-15 reverse stock split approved by the board to help maintain compliance with Nasdaq’s continued listing requirements.
Cemtrex’s updates regularly cover segment performance in its Security and Industrial businesses, including revenue trends, margin improvements, and commentary on operating leverage. The company has reported results for recent fiscal periods, describing growth in its Security segment, led by Vicon Industries, and in its Industrial Services segment through Advanced Industrial Services (AIS). Management commentary often focuses on profitability, cost discipline, and multi-year transformation efforts.
Another key news theme is corporate development and acquisitions. Cemtrex has announced letters of intent and definitive agreements to acquire businesses in industrial robotics integration and aerospace and defense systems engineering, and has completed the acquisition of Invocon, Inc., which anchors its Aerospace & Defense segment. These stories provide context on how Cemtrex seeks to expand into aerospace, defense, and automation markets.
Investors and observers can use the CETX news page to review earnings announcements, capital markets transactions, acquisition updates, and strategic commentary directly from the company. Regularly reviewing this feed can help track how Cemtrex’s Security, Industrial, and Aerospace & Defense activities progress over time.
Cemtrex Inc. (NASDAQ: CETX, CETXP, CETXW) reported a revenue increase of 11% for 2020, totaling $43.5 million. The company achieved a gross profit margin of 44%, an increase of 400 basis points. The Advanced Technology Segment saw a significant revenue boost of 34%, totaling $25.8 million, while the Industrial Services segment revenue dropped 11% to $17.8 million. The net loss for 2020 was $13.1 million, improved from a loss of $24.3 million in 2019. Adjusted EBITDA losses decreased by 87%, reflecting operational improvements.
Cemtrex Inc. (NASDAQ: CETX, CETXP, CETXW) has launched the SmartDesk Connect, a versatile workstation featuring 4K UHD monitors, a sit-stand desk, and built-in wireless phone charging, compatible with both Windows and MacOS. Orders will commence in January 2021, with shipping expected to follow within 4-8 weeks. Priced at $2299, the SmartDesk Connect will be manufactured in New York. CEO Saagar Govil emphasized the importance of supporting remote work and local job creation in NYC amidst the current economic climate.
Cemtrex Inc. (NASDAQ: CETX, CETXP, CETXW) announced collaborations with HBO Max and Modelo USA to leverage augmented and virtual reality (AR/VR) in digital marketing campaigns. For HBO Max, Cemtrex created a campaign for the movie Charm City Kings, featuring social media assets and an AR face filter to enhance audience engagement. In partnership with Modelo, Cemtrex developed an AR web experience for the Modelo x RSVP WebAR Sweepstakes, promoting a co-branded apparel collection. CEO Saagar Govil emphasized the effectiveness of AR/VR in increasing consumer interaction and driving business results.
Cemtrex Inc. (NASDAQ: CETX, CETXP, CETXW) has announced a strategic investment in MasterpieceVR, a leader in virtual reality content creation software. This partnership aims to enhance Cemtrex’s offerings in the Augmented and Virtual Reality market, projected to grow significantly. The investment, completed in November using existing cash, positions Cemtrex to leverage MasterpieceVR’s innovative tools, streamlining the 3D content creation process. With a focus on efficiency, the collaboration aims to meet the growing demand for 3D content in the $22 billion AR/VR market.
Cemtrex Inc. (NASDAQ: CETX, CETXP, CETXW) has announced that its subsidiary Virtual Driver Interactive (VDI) is now offering the Driving Essentials XE program on the latest gaming consoles, Sony PS5 and Microsoft Xbox Series X. This program addresses the impact of the COVID-19 pandemic on driver education, enabling teens to practice safe driving at home. Priced at $29, the program includes 10 lessons covering various driving scenarios, including inclement weather and complex traffic situations, enhancing training options for parents and teens.
Cemtrex Inc. (NASDAQ: CETX, CETXP, CETXW) has announced the acquisition of Virtual Driver Interactive (VDI), a leading provider of driver training simulation solutions, on October 23, 2020. This strategic move aims to enhance Cemtrex's augmented and virtual reality growth segment and VR training product line. VDI, known for its effective training systems with over $2 million annual revenue and 2,000 installations across the US, will help Cemtrex leverage next-generation solutions in training. The acquisition is expected to be accretive to non-GAAP earnings per share and cash flow starting Q1 FY2021.
Cemtrex Inc. (NASDAQ: CETX, CETXP, CETXW) has received a $500,000 order for upgrading a security technology system at a Tennessee corrections facility. This upgrade will enhance the existing system with over 1,000 cameras and state-of-the-art software. CEO Saagar Govil noted that this order reflects a positive outlook for their Security Technology segment, showcasing a year-on-year increase in orders. The shipment is scheduled for October 2020, and this order supports the anticipated top-line growth for Cemtrex in FY 2021 as the market continues to recover.
Cemtrex Inc. (NASDAQ: CETX, CETXP, CETXW) announced the appointment of Priscilla Popov as the new Chief Financial Officer, effective September 30, 2020. She takes over from Aron Govil, who will remain as a consultant until the end of fiscal year 2021. Popov brings over 20 years of experience in finance and accounting, having held senior positions at several notable companies. The transition comes as the company anticipates continued growth, particularly with its Vicon security technology and the upcoming launch of the SmartDesk product.
Cemtrex Inc. (NASDAQ: CETX, CETXP, CETXW) will host a virtual roadshow webinar on October 6, 2020, at 1:00 p.m. Eastern time. CEO Saagar Govil will discuss market opportunities and revenue growth strategies. Participants can join via a provided webcast link or dial-in. A replay will be available post-event until October 20, 2020. The event aims to engage investors and highlight Cemtrex's advancements in IoT, augmented reality, and artificial intelligence across multiple sectors.
Cemtrex Inc. (CETX, CETXP, CETXW) announced a $500,000 contract awarded to its subsidiary, Vicon, for its Thermal Body Temperature Measurement Camera. This advanced technology aims to aid schools in detecting elevated body temperatures and ensuring safety as they reopen post-COVID-19. The cameras will be deployed across various district schools, providing contactless temperature screenings with an accuracy of ±0.54° F. Cemtrex emphasizes that this technology will play a vital role in future epidemic management, enhancing its core business growth.