Cemtrex Confirms Strong Product Demand with $5 Million in New Orders
In last week’s introduction of Cemtrex Inc. (CTEI $0.65), we mentioned that the diversified manufacturer was experiencing increased demand for its products in all its business segments.
That trend was confirmed this week, as the Company received new orders in excess of $5,000,000 in its electronics manufacturing business. Delivery of the products will begin shortly and continue over the next 12 months.
Cemtrex’s Chairman & CEO, Saagar Govil, commented, “We are encouraged to obtain orders in the medical devices industry as that is a key component of where we are looking for long term growth. Additionally we have new orders from another customer for manufacturing cutting edge products in the wearables technology industry.”
This is obviously excellent news as it keeps the Company’s momentum going. Net sales in fiscal year 2014, ended September 30, 2014, reached $47.65 million, compared to $13.67 million in the comparable period of 2013, an increase of almost 250%. While net income in fiscal year 2014 was $2.67 million, or $.07 per diluted share, compared to $0.28 million, or $.01 per diluted share, for the same period in 2013, an increase of 825% in both net income and diluted earnings per share.
In addition, Cemtrex is trading at a P/E of around 9.1, which is less than half the average valuation of its peers in the Industrial Goods sector according to Yahoo Finance.
Sooner or later the market will realize what an undervalued bargain Cemtrex really is. Be prepared for that day.
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