Cemtrex Inc. reported its financial results for the fiscal fourth quarter and year ended September 30, 2024, on December 30, 2024. Full fiscal year 2024 revenue increased 13% to $66.9 million, up from $59.4 million in fiscal year 2023.
The Industrial Services segment saw a 39% revenue increase to $34.8 million for the full year, driven by demand and the Heisey acquisition. However, the Security segment's revenue decreased 7% to $32.0 million due to project delays and weaker industry demand.
The company reported a full fiscal year 2024 operating loss of $5.3 million, compared to a $1.5 million operating loss in the prior year. Net loss for the full year was $7.7 million, an improvement from a $9.2 million net loss in 2023, with Q4 2024 showing a net income of $4.4 million.
Gross profit for the year was $27.5 million, representing a 41% margin, a decrease from 43% in the prior year. Cash, cash equivalents, and restricted cash stood at $5.4 million as of September 30, 2024.
Management expects Vicon sales to ramp in the coming year with the launch of the NEXT Camera and Anavio cloud platform. The AIS segment is projected for another breakout year with strong order flow and an expanded market opportunity.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.