Cemtrex Inc (NASDAQ:CETX) a diversified industrial and manufacturing technology entity successfully completed its up listing on NASDAQ exchange. The company’s common shares commenced trading under a new ticker “CETX” on June 25, 2015.
The performance
Cemtrex has achieved remarkable growth in recent year crossing over $47 million in revenue in FY2014 compared to $13 million in FY2013. The earnings came at $0.39 per share in FY2014 up from $0.04 per share in FY2013. The company successfully thrived the tough times by focusing on emerging markets like Asia and broadening its product portfolio. It targeted the innovative industries including wearable and medical devices.
In FY2015, it reported sustained growth exceeding previous year revenues for the last two quarters. With rise in environmental regulations, strong end market demand and Cemtrex’s commitment to remaining competitive, it is moving forward towards strong growth.
The management view
Saagar Govil, the CEO and Chairman said that it marks a historic day for Cemtrex as they achieve this significant milestone. The company covered a long way to reach to this point, and it is the result of the dedication and hard work of employees that the company have come this far. Recently, the company also announced a distribution partner deal with Prozess Technologie.
The up listing to a reputed capital market exchange, NASDAQ, enables company to get a broader investor base. It will create immense value for shareholders in coming period. The CEO said that he is extremely proud of company’s team and looks forward to direct Cemtrex to greater heights. Cemtrex reported that the company’s management will be ringing the closing bell of NASDAQ Stock Market on June 25, 2015.
In the early morning trade, the stock price of Cemtrex Inc (NASDAQ:CETX) was trading at $3.81 with a decline of over 2%. The company has a market cap of 26.44 million.
