Brooklyn, NY, March 17, 2020 (GLOBE NEWSWIRE) -- – Cemtrex Inc. (Nasdaq: CETX, CETXP, CETXW), a world leading technology company, announced today that the company received new orders totaling over $2,000,000 in its Advanced Technology segment over the last 30 days.
The Company received multiple orders for several security surveillance systems for government and commercial buildings including correctional facilities. The orders were also for software development services for web, mobile, enterprise, and virtual reality applications with all new customers. The Company expects to fulfill these new orders in the next quarter. The orders represent an increase in demand overall for the Company’s products and services in its Advanced Technologies segment on a year over year basis for the period.
Cemtrex's CEO, Saagar Govil, commented, "We are continuing to see demand for our products and services despite the challenges from COVID-19 as our business offers products and services that are essential for companies over the long term. We expect the disruption to our operations to be minimal as much of our workforce is able to work remotely. The next four weeks may be challenging to deliver products to customers as some are closing their doors through mid-April, but our pipeline and backlog remains largely intact."
About Cemtrex
Cemtrex, Inc. (CETX) is a diversified technology company that's driving innovation in a wide range of sectors, including smart technology, virtual and augmented realities, digital technology solutions, 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. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. These risks and uncertainties are 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: Investor Relations Cemtrex, Inc. Phone: 631-756-9116 investors@cemtrex.com General Inquiries sales@cemtrex.com
