FARMINGDALE, NY -- Cemtrex announced fiscal second quarter consolidated net sales fell 32% year-over-year to $20.6 million.

Net income rose 2% to $423,471 during the period ended Mar. 31.

“We had a decrease in sales due to ongoing challenges in our industrial products business arising from a weakness in environmental markets globally, as well as a loss of couple customers in our electronics business," said Saagar Govil, chairman and CEO. "We expect revenues to be weaker for the next few quarters due to these factors, however we remain optimistic about the long-term demand for our products and services.”

“Strategically due to our shift in focus into smart devices and virtual reality applications, we will be exiting the environmental instruments and control products business this year. This new direction will be officially kicked off with the unveiling of our SmartDesk next week. Additionally, with our recently acquired stake in Vicon, we are continuing to move deeper into technology markets. We continue to invest in our compelling product roadmap across technology manufacturing, smart devices, and Virtual Reality (VR) / Augmented Reality (AR) that we expect will drive strong returns for our shareholders over the next several years.”

Register now for PCB West, the largest trade show for the printed circuit and electronics industry in the Silicon Valley! Coming Sept. 11-13 to the Santa Clara Convention Center.

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