Cemtrex, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended June 30, 2022
August 15, 2022 at 05:07 pm EDT
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Cemtrex, Inc. reported earnings results for the third quarter and nine months ended June 30, 2022. For the third quarter, the company reported sales was USD 13.63 million compared to USD 10.33 million a year ago. Net loss was USD 0.680793 million compared to net income of USD 1.1 million a year ago. Basic loss per share from continuing operations was USD 1.05 compared to basic earnings per share from continuing operations of USD 2.1 a year ago. Diluted loss per share from continuing operations was USD 1.05 compared to diluted earnings per share from continuing operations of USD 2.1 a year ago.
For the nine months, sales was USD 37.03 million compared to USD 28.42 million a year ago. Net loss was USD 9.88 million compared to net income of USD 1.86 million a year ago. Basic loss per share from continuing operations was USD 14.35 compared to basic earnings per share from continuing operations of USD 3.5 a year ago. Diluted loss per share from continuing operations was USD 14.35 compared to diluted earnings per share from continuing operations of USD 3.5 a year ago.
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.