Industrial services firm Cemtrex's Q3 revenue rises
Industrial services firm Cemtrex's Q3 revenue rises
Overview
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
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
Company press release: ID:nGNXbP0lRR
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Net Loss |
| $4.50 mln |
|
Q3 Operating Income |
| -$1.20 mln |
|
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)