Industrial services firm Cemtrex's Q3 revenue rises
CETX•Outlook
- Company says completing AIS Tennessee restructuring is a near-term objective
- Company expects quarterly results in Aerospace & Defense to reflect timing of program milestones
- Cemtrex plans further expansion in Industrial Services with additional acquisition under letter of intent
Result drivers
- Security segment restructuring - Cost reduction program and pricing actions at Vicon drove improved margins and reduced operating losses in Security segment
- Aerospace & Defense contribution - Invocon delivered segment profitability as deferred revenue from long-cycle programs converted to recognized results
- Industrial Services restructuring - Operating loss in Industrial Services driven by restructuring actions at AIS Tennessee, including workforce and project portfolio changes
Quarterly results
- US diversified industrial and technology firm's fiscal Q3 revenue rose 9% yr/yr
- Fiscal Q3 operating loss narrowed to $1.2 mln from $2.2 mln in Q2
- Company completed Plant Engineering Services acquisition after quarter end
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|
