ROB Acquisition Propels Cemtrex PDF Print E-mail
Written by Mike Buetow   
Wednesday, 19 February 2014 09:03

FARMINGDALE, NY -- Cemtrex today reported fiscal first-quarter consolidated net income of $416,552, up from $166,915 in 2012. For the three months ended Dec. 31, sales increased 310% to $8.96 million, boosted by its acquisition of ROB Group.

Saagar Govil, chief executive, said, "This record-setting first quarter for us was due to both organic growth among our existing businesses and our recent acquisition of ROB. Our team is executing at a high level and we are in a great position for continued high growth. I am extremely confident in our business plan and our strategy to deliver unparalleled results for our shareholders."

Cemtrex completed its acquisition of the German-based ROB Group, a contract electronics manufacturer with annual revenues of about $58 million, on Oct. 31.

Last Updated on Wednesday, 19 February 2014 10:29


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