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Posted On: 05/21/2019 8:24:17 AM
Post# of 98250
CETX Sales&Gross Profit increased by 16% and 11% respectively for the quarter Cemtrex’s Chairman and CEO, Saagar Govil, commented on the results, “This quarter saw our revenues increase with the growth in sales in our Advanced Technologies segment as we shift into technology businesses which provide higher gross margins and thus will allow us to generate better returns for our shareholders over the long term.
“The Company has now taken numerous steps to reduce the on-going loss and bring costs in line with expected revenues moving forward which will start to reflect in our next quarterly report. Our goal is to reach cash flow positive as soon as possible and eliminate the need to raise any further equity capital. This may result in longer timeframes to realize our growth targets, particularly around SmartDesk and VR activities, but ultimately will limit further dilution to common equity,” continued Mr. Govil. CETX
“The Company has now taken numerous steps to reduce the on-going loss and bring costs in line with expected revenues moving forward which will start to reflect in our next quarterly report. Our goal is to reach cash flow positive as soon as possible and eliminate the need to raise any further equity capital. This may result in longer timeframes to realize our growth targets, particularly around SmartDesk and VR activities, but ultimately will limit further dilution to common equity,” continued Mr. Govil. CETX
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2️⃣All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies.
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