Cemtrex Receives over $13M in New Orders in its EMS Segment During Most Recent Quarter
FARMINGDALE, N.Y.--(BUSINESS WIRE)--Oct 3, 2018--Cemtrex Inc. (Nasdaq: CETX, CETXP, CETXW ), a world leading technology and manufacturing company, announced today that the company received over $13 million in new orders in its Electronics Manufacturing Services (EMS) Segment during its most recent quarter ended September 30 th, 2018.
The Company’s new orders were driven primarily by customers in wearable smart devices, medical devices, industrial technology, automation, and measurement devices. The orders came from both new customers and existing customers such as ERBE, ABB, and Heinzmann. With these new orders the total EMS segment’s backlog remains over $50M in total which puts the segment on a path toward organic growth of 10% over the next twelve months.
Cemtrex’s Chairman and CEO, Saagar Govil, commented, “We continue to see steady growth in our EMS segment. We have been able to rebound from a decline in sales earlier this year with these new bookings. With $50M in backlog this gives us a strong foundation for us to continue growing within this segment.”
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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This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to our new product offerings 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.
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CONTACT: Investor Relations
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: TECHNOLOGY ELECTRONIC DESIGN AUTOMATION HARDWARE INTERNET NETWORKS SOFTWARE TELECOMMUNICATIONS NANOTECHNOLOGY PHOTOGRAPHY SATELLITE SECURITY SEMICONDUCTOR MOBILE/WIRELESS VOIP
SOURCE: Cemtrex, Inc.
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PUB: 10/03/2018 08:30 AM/DISC: 10/03/2018 08:30 AM