FARMINGDALE, N.Y., March 19, 2008 — Cemtrex Inc. (OTC: CTEI) today released financial results for the fiscal year ended September 30, 2007. Revenue increased 388% to $3,533,621 for the twelve-month period ended September 30, 2007 as compared to $724,209 for the similar twelve-month period ended September 30, 2006. The Company has a net loss of $123,565 for fiscal year 2007 as compared to a net income of $2,222 for fiscal 2006.
Summary of Consolidated Financial Data
For Twelve Months For Twelve Months
Ended Ended
September 30, 2007 September 30, 2006
REVENUE $3,533,621 $724,209
COST OF SALES 2,364,277 276,837
GROSS PROFIT 1,169,344 447,372
OPERATING EXPENSES 1,292,909 444,718
INCOME TAX (432)
NET INCOME (LOSS) ($123,565) $2,222
NET INCOME (LOSS)
PER SHARE ($0.00) $0.00
TOTAL SHARES
OUTSTANDING 34,327,862 6,880,213
Cemtrex is engaged in manufacturing and selling the most advanced instruments for emission monitoring of particulate, opacity, mercury, sulfur dioxide, nitrogen oxides, etc. Cemtrex also provides turnkey services for carbon creation projects from abatement of greenhouse gases pursuant to the Kyoto Protocol and assists project owners in the selling of carbon credits globally. The Company's products are sold to power plants, refineries, chemical plants, cement plants and other industries, including federal and state governmental agencies.
Safe Harbor Statement
This press release contains forward-looking statements. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. 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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Cemtrex Inc.
Contact: Arun Govil
Email: Email