Cemtrex Inc. (CTEI) stock jumps on quarterly numbers

Posted on: Thursday, August 11th, 2011
Written by:
Glenn

Cemtrex Inc. (OTCBB: CTEI) saw its shares grow 53.9% soon after the start of trading Thursday to 20 cents, on dazzling new quarterly figures. Volume for the stock was nearly 61,000, or better than four times its full-day average.

An August 11 press release revealed that the Farmingdale, New York-based Cemtrex’s revenue increased by 816% to $6,001,792 in third quarter ended June 30, 2011 compared to $654,721 in third quarter ended June 30, 2010.
Net Income was $428,452 in third quarter ended June 30, 2011 compared to a loss of $114,770 in third quarter ended June 30, 2010.

Commenting on the quarterly results, company president Arun Govil was quoted in the release as saying, “We are pleased with this turnaround to profitability and are confident in our ability to create sustainable profitability for the long term.”

Cemtrex Inc. through its subsidiaries is a worldwide market leader in manufacturing and selling the most advanced equipment and systems for stack gas emission monitoring, air filtration and other environmental control products in a wide variety of industries, including power plants, refineries, chemical, steel and cement plants.

Tags: , , , ,
Category: OTCBB, Penny Stocks
no comments
You can leave a response, or trackback from your own site.

Leave a Reply

Your email address will not be published. Required fields are marked *


About Penny Stocks

The term "penny stocks," also known as micro-cap equities, micro caps, small caps, pink sheets, refers to shares in a company that trades for less than $5.00. Most penny stocks trade on the OTCBB market and the pink sheet electronic quotation service. Penny Stocks can be very volatile and can see gains as much as 500% in a day. Volatility in penny stocks is also dangerous because penny stocks can come down as quickly as they go up. If you trade penny stocks based on stock picks, make sure to always do your due diligence on the companies you're considering, use stop loss orders, and book your profits when you are in a position to do so.