$CETX Sales & Gross Profit increased by 16% and 11
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Posted On: 05/21/2019 8:25:09 AM
$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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