Hauppauge, NY, March 12, 2026 (GLOBE NEWSWIRE) -- Cemtrex, Inc. (Nasdaq: CETX, CETXP) today announced that its Advanced Industrial Services ("AIS") subsidiary has been awarded a $1.2 million industrial installation contract and is providing a business update following its recently reported fiscal first quarter 2026 results.
As previously reported, Cemtrex generated $16.1 million in revenue in the fiscal first quarter, representing 17% year-over-year growth, driven primarily by continued expansion in its Industrial segment.
The Industrial segment delivered a record quarter with $10.6 million in revenue, up 28% year-over-year, reflecting continued demand for installation and infrastructure work across manufacturing and industrial facilities.
The Company reported an operating loss of $2.8 million for the first fiscal quarter, reflecting a combination of factors including margin compression in the Security segment, weakness in government demand, and certain one-time items related to equipment write-offs, legal matters, and acquisition activity.
Management does not believe the first quarter operating results fully reflect the Company's current operating structure going forward. The Company has taken several steps intended to improve operating performance, including annualized cost reductions of $2.5-3.0 million and pricing adjustments within the Security segment, as well as the addition of earnings contributions from the recently completed acquisitions of Invocon and Richland Industries.
Invocon establishes Cemtrex's Aerospace & Defense segment and expands the Company's presence in mission-critical engineering markets. Invocon is expected to contribute $6-7 million in revenue over the next twelve months. Richland extends the Company's Industrial Services platform into the Southeastern United States and is expected to contribute approximately $8-10 million in revenue over the next twelve months based on existing backlog and historical performance.
Cemtrex ended the quarter with $20.5 million in cash and cash equivalents, providing improved financial flexibility as the Company integrates these acquisitions and continues executing its operating strategy.
The Company is also evaluating potential avenues for the recovery of certain tariffs expenses in light of recent legal developments affecting US tariff policy. The Company cannot currently estimate whether any such recovery will occur or the amount of any potential recovery.
Separately, AIS has been awarded a $1.2 million contract from a large national general contractor for work at a specialty manufacturing facility in the Northeastern United States.
AIS will assist with planning, layout, unloading, installation, and commissioning of production equipment including tanks, agitators, condensers, freezers, and related manufacturing systems. The project will be executed in multiple phases and is expected to run from the first calendar quarter of 2026 through the first calendar quarter of 2027. Due to confidentiality obligations, the Company did not disclose the names of the contractor or end customer.
Saagar Govil, Chairman and CEO of Cemtrex, commented:
"Our Industrial segment continues to see consistent demand for installation and infrastructure projects. At the same time, we have taken steps to reduce costs within the Security segment, implemented pricing adjustments, and expanded the platform through the acquisitions of Invocon and Richland. Our focus remains on improving operating performance as these actions take effect and as the recently acquired businesses begin contributing to results."
The Company remains focused on disciplined execution across its Security, Industrial, and Aerospace & Defense segments.
About Cemtrex
Cemtrex, Inc. (Nasdaq: CETX, CETXP) is a diversified industrial and technology company operating across the Security, Industrial, and Aerospace & Defense sectors. The Company's Security segment, led by Vicon Industries, provides advanced video management software, high-performance security cameras, and integrated surveillance solutions for enterprise, government, and critical infrastructure customers. Its Industrial segment, through Advanced Industrial Services (AIS), delivers specialized rigging, millwrighting, process piping, and equipment installation services to manufacturers nationwide. Cemtrex's Aerospace & Defense segment, anchored by Invocon, provides mission-critical engineering, instrumentation, and sensing solutions supporting aerospace, defense, and space-based programs. With a focus on disciplined execution and strategic growth, Cemtrex is committed to building durable businesses that enhance safety, reliability, and long-term value for its customers and shareholders.
For more information, visit www.cemtrex.com.
Investor Relations:
investors@cemtrex.com
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the anticipated operational performance, potential acquisitions, strategic initiatives, closing of any offerings, gross proceeds from any offerings, our new product offerings, expected use of proceeds, or any proposed fundraising activities. These forward-looking statements are based on management's current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by such forward looking statements. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. These risks and uncertainties are discussed under the heading "Risk Factors" contained in our Form 10-K filed with the Securities and Exchange Commission. All information in this press release is as of the date of the release and we undertake no duty to update this information unless required by law.
