Cemtrex (CETX) CEO, Saagar Govil, Issues 2015 Annual Letter to Shareholders
FARMINGDALE, N.Y., Feb. 3, 2016 /PRNewswire/ -- Cemtrex Inc. (Nasdaq: CETX), a diversified industrial and manufacturing leader, announced today its Chairman and CEO, Saagar Govil, issued an annual letter to Cemtrex shareholders. Highlights from the letter include:
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To the Shareholders of Cemtrex Inc.,
This year Cemtrex increased its book value per share by $.46 or 112%. Since 2011, when present management assumed control, our book value per share has grown from $.01 to $.88, or a CAGR of 128%. Our net income, in fiscal 2015, was $2,838,116 or $.42 per share, an increase of 6% over last year. Our 5 year CAGR for our annual net income is 23%. Our return on our beginning equity for this year was 78%. Our three-year average return on equity is 116%. [...]
Cemtrex's Environmental Products & Services Group has experienced increased revenue during this past year. This growth was primarily driven by on-going demand for our products in South East Asian countries like Indonesia, Malaysia, India, Thailand, and Vietnam. To attain some perspective on these markets, India, for example, has developed its installed Non-Renewable energy capacity by roughly 50 GW over the past two years alone and expects to add up to 1200 GW of capacity by 2050 – that is roughly the size of the present US electricity generating capacity. Other countries in the region are similarly ramping up their capabilities to meet mounting energy demand. All this additional capacity requires support from industries like cement, steel, asphalt, chemicals, and oil & gas, among others, to manufacture the technology and infrastructure needed to support this vast requirement. Fortunately for us, all of these related industries typically require environmental and air filtration equipment along with emission monitors and other ancillary equipment in which we have tremendous engineering and low cost manufacturing expertise. [...]
Our EMS business is in the early stages of experiencing many new growth opportunities. In this business we provide turn key product development solutions from the idea stage through to design box builds and full contract manufacturing. We assist many German and Swiss OEMs in this process, some of whom are market leaders in their respective product segments. As their sales continue to increase, our business will also increase. This past year alone we had approximately $5 million in revenue attributed to new product introductions. We view this as an outstanding result because this represents over 100 different products which are in the infancy of their product life cycle, with potential for higher sales over the next few years. The industries primarily responsible for these new product introductions consist of medical devices, heavy automotive, automation, wearables, and industrial technology. [...]
We recently completed an important acquisition of Advanced Industrial Services (AIS), a 30-year-old broad based industrial services company. I am pleased to tell you that this company immediately struck us as a great opportunity. The company has over a 120 employees and provides nationwide services to major industrial clients like PPG, Bemis, Volvo, etc., most of whom differ from our existing customer base. [...] AIS has a superb management team in place, headed by Jim Heinrichs, who is supported by Mike Hall, and Al Knisely. Our shareholders should be thrilled about having these three gentlemen running the business moving forward. They are extremely dedicated, hard-working, and are eager to take this business to the next level. [...]
At Cemtrex we constantly strive to create value for our shareholders and during the last five years Cemtrex has been one of the fastest growing, profitable, US-based, public industrial companies in terms of the Revenue Growth % while delivering a high Average Return on Equity %. With Cemtrex management retaining close to 65% of common stock, both existing and prospective shareholders should be at ease knowing that we treat your cash like our own cash, because we have just as much at stake. [...]
To read the entire 2015 Annual Letter to Shareholders, please visit the Investor Relations part of the website: http://www.cemtrex.com/investor-relations/letters-to-shareholders/2015-letter-to-shareholders to read online or download a .pdf version.
About Cemtrex
Cemtrex, Inc. (NASDAQ:CETX) is a world leading diversified industrial and manufacturing company that provides a wide array of solutions to meet today's technology challenges. Cemtrex provides manufacturing services of advanced custom engineered electronics, industrial services, monitoring instruments for industrial processes and environmental compliance, and systems for controlling particulates, hazardous gases, emissions of Greenhouse gases, and other regulated pollutants used in emissions trading globally.
Safe Harbor Statement
This press release contains forward-looking statements. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date.
For further information, please contact:
Investor Relations
Cemtrex, Inc.
Phone: 631-756-9116
Email
SOURCE Cemtrex, Inc.
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