Farmingdale, NY, July 23, 2018 (GLOBE NEWSWIRE) -- Cemtrex Inc. (Nasdaq: CETX, CETXP,
CETXW), a world leading technology and manufacturing company, announced today that the company received over $20 million in new
orders in its Electronics Manufacturing Services (EMS) Segment during its most recent quarter ended June 30th, 2018.
The Company’s new orders were driven primarily by customers in medical devices, industrial technology, automation, and
measurement devices. The orders came from both new customers and existing customers such as ERBE, Stäubli, and Heinzmann. These new
orders bring the total EMS segment’s backlog up to over $50M in total which puts the segment on a path toward organic growth of 10%
over the next twelve months.
Cemtrex’s Chairman and CEO, Saagar Govil, commented, “We are encouraged with the recent success of our EMS segment. We have been
able to rebound from a decline in sales last quarter with these new bookings. With $50M in backlog this gives us a strong
foundation for us to continue growing within this segment.”
About Cemtrex
Cemtrex, Inc. (NASDAQ:CETX) is the manufacturer of the SmartDesk, the world’s most advanced workstation. Cemtrex is a diversified
technology company that's driving innovation in a wide range of sectors, including smart technology, virtual and augmented
realities, advanced electronic systems, industrial solutions, and intelligent security systems.
www.cemtrex.com
Safe Harbor Statement
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of
1995, including statements relating to our new product offerings or any proposed fundraising activities. These
forward-looking statements are based on management's current expectations and are subject to certain risks and uncertainties that
could cause actual results to differ materially from those set forth in or implied by such forward looking statements. These
risks and uncertainties include, but are not limited to: operational losses and negative cash flows; any need for additional
financing; market acceptance of our products; our ability to manufacture and develop effective products and solutions; indebtedness
to our lenders; current and future economic conditions that may adversely affect our business and customers; potential fluctuation
of our revenues and profitability from period to period which could result in our failure to meet expectations; our ability to
maintain adequate levels of working capital; our ability to incentivize and retain our current senior management team and continue
to attract and retain qualified scientific, technical and business personnel; our ability to expand our product offerings or to
develop other new products and services; our ability to generate sales and profits from current product offerings; rapid
technological changes and new technologies that could render certain of our products and services to be obsolete; competitors with
significantly greater financial resources; introduction of new products and services by competitors; challenges associated with
expansion into new markets; and, other factors discussed under the heading "Risk Factors" contained in our Form 10-K filed with the
Securities and Exchange Commission. All information in this press release is as of the date of the release and we undertake
no duty to update this information unless required by law.
For further information, please contact: Media Relations KCSA Strategic Communications Anne Donohoe 212-896-1265 adonohoe@kcsa.com Investor Relations Cemtrex, Inc. Phone: 631-756-9116 investors@cemtrex.com
