Cemtrex EMS Segment Receives $7M in New Orders with Backlog Steady at over $50M
Long Island City, NY, March 12, 2019 (GLOBE NEWSWIRE) -- – Cemtrex Inc. (Nasdaq: CETX, CETXP, CETXW ), a world leading technology and manufacturing company, announced today that the company received $7M in new orders in its Electronics Manufacturing Services (EMS) Segment in January and its backlog remains over $50M.
The Company’s recent orders were driven primarily by customers in wearable smart devices, medical devices, automotive technology, automation, and measurement devices. The orders came from both new customers and existing customers such as ERBE, ABB, and Heinzmann. Cemtrex’s EMS segment achieved approximately $44M in revenues in CY 2018.
Cemtrex’s Chairman and CEO, Saagar Govil, commented, “Cemtrex EMS segment’s stable backlog is providing a strong footing for continued growth within this segment. With continued interest from both new and existing clients, we believe we can reach our low double digit organic revenue growth targets over the next twelve months.”
About Cemtrex Cemtrex, Inc. ( CETX ) is the manufacturer of the SmartDesk, the world’s most advanced workstation. Cemtrex is a diversified technology company that’s driving innovation in a wide range of sectors, including smart technology, virtual and augmented realities, advanced electronic systems, industrial solutions, and intelligent security systems. www.cemtrex.com
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