Business
Cemtrex Provides Corporate Update on Business Operations
Brooklyn, NY, Oct. 12, 2021 (GLOBE NEWSWIRE) -- - Cemtrex Inc. (NASDAQ: CETX, CETXP, CETXW), a company driving innovation in Internet of Things (IoT),
About this update from Cemtrex Inc.
[{"type":"text","content":"Brooklyn, NY, Oct. 12, 2021 (GLOBE NEWSWIRE) -- - Cemtrex Inc. (NASDAQ: CETX, CETXP, CETXW), a company driving innovation in Internet of Things (IoT), security, machine vision & artificial intelligence, and augmented & virtual reality, today provided a corporate update on its business operations, financials and industry outlook. Cemtrex is a diversified holding company with operating brands that now include: Vicon Industries Inc. - Creating the best video surveillance solutions for commercial, industrial, and government applications.SmartDesk - State of the art, fully integrated, intelligent workstations for modern workflows.CXR - Realizing the potential of VR/AR by offering development services, building in-house VR/AR first brands, and investing in best-in-class companies and brands. CXR Inc. - Creating VR / AR solutions for third party brands like Richemont, Modelo and more.Bravo Strong VR – VR Gaming Studio working to develop action and adventure facets of the spatial computing metaverseVirtual Driver Interactive - Training solutions for novice drivers. Advanced Industrial Services – Single source, premier industrial contracting firm.Goodtech (formerly CemtrexLabs) - Full-stack, creative technology lab specializing in enterprise, web, and mobile development, user experience design and innovative engineering services. “Throughout the second half of CY 2021 we have continued to see demand improvement as the economy has reopened and businesses are returning to pre-pandemic operations,” said Saagar Govil, Cemtrex CEO. “In response we are investing in sales and marketing staff across the board to grow our business and increased R&D spend to drive innovation. We expect these investments to drive top line growth over the next two to three years. Additionally, we continue to evaluate acquisition opportunities for strategic growth. Operationally we are advancing our product development and pipelines across all our brands.\" “This year we made substantial progress in our product roadmap by releasing a brand new NDAA compliant state-of-the-art camera line, a new high end sever line, as well as some exciting products like our 360-degree multisensor camera and thermal kiosk camera. Vicon will be launching a proprietary AI based analytics solution next year as well as major improvements to its core software platform Valerus. We remain pos...