Cemtrex Inc. (CTEI) stock jumps on quarterly numbers
Posted on: August 11th, 2011Written by:
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.
