Cemtrex (OTC:CTEI) today announced its first quarter consolidated results of operations for the three months ended December 31, 2010. Revenue increased by 104 percent to $1,821,634 in first quarter ended December 31, 2010 compared to $891,454 in first quarter ended December 31, 2009. Net Income was $144,217 in first quarter ended December 31, 2010 compared to a loss of ($32,006) in first quarter ended December 31, 2009. As I write, shares of Cemtrex are up 12 percent at $0.14 per share on volume of 95,000 shares compared to its average daily volume of 43,000 shares. The company has a market cap of $5.6 million and a 52-week range between $0.01 and $0.16 per share.Commenting on the quarterly results, Mr. Arun Govil, President and Chief Executive Officer of the Company, remarked, "We are pleased with this turnaround to profitability, and would like to thank our employees for their efforts, which have resulted in enhanced global marketing efforts, securing large projects in the international marketplace, and overall effective execution."
"We are confident in our ability to secure more such projects and create sustainable profitability for the long term," continued Mr. Govil.
Cemtrex through its subsidiaries is a worldwide participant in manufacturing and selling the most advanced equipment and systems for stack gas emission monitoring, air filtration and other environmental control products in a wide variety of industries, including power plants, refineries, chemical, steel and cement plants. Cemtrex also markets Green DCV, an innovative energy efficiency solution for high-quality green building applications, through optimizing HVAC control systems.
For more information, please visit: www.cemtrex.com.
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