Cemtrex Inc. Makes Deloitte’s 2018 Technology Fast 500™ List of Fastest Growing Companies With 153% Revenue Growth
November 16 2018 - 8:35AM
Cemtrex Inc. (Nasdaq: CETX, CETXP, CETXW), today announced it
ranked on Deloitte’s Technology Fast 500™, a ranking of the 500
fastest growing technology, media, telecommunications, life
sciences and energy tech companies in North America. Cemtrex grew
revenues 153% percent during 2014 to 2017.
Cemtrex’s chief executive officer, Saagar Govil, commented, “We
are extremely proud to be on the Deloitte Technology Fast 500 for
the 5th time since 2012. Over the last several years we have
focused intensely on driving growth, increasing from approximately
$3 million in revenues to now over $100 million since 2010. Our
success can be attributed to the world-class team executing every
day here at Cemtrex and our shifting into high growth technology
markets. With our revolutionary Internet of Things (IoT) SmartDesk
product shipping this fiscal year and other long-term initiatives
in the pipeline our goal is to scale from current revenue levels to
$500 million in the next several years. Accordingly, we hope stay
on the Fast 500 list for many more years to come as we continue to
innovate and drive value for our shareholders.”
“Congratulations to the Deloitte 2018 Technology Fast 500
winners on this impressive achievement,” said Sandra Shirai, vice
chairman, Deloitte LLP, and U.S. technology, media and
telecommunications leader. “These companies are innovators who have
converted their disruptive ideas into products, services and
experiences that can captivate new customers and drive remarkable
growth.”
“Software, which accounts for nearly two of every three
companies on the list, continues to produce some of the most
exciting technologies of the 21st century, including innovations in
artificial intelligence, predictive analytics and robotics,” said
Mohana Dissanayake, partner, Deloitte & Touche LLP, and
Industry Leader for technology, media and telecommunications,
within Deloitte’s audit and assurance practice. “This year’s
ranking demonstrates what is likely a national phenomenon, where
many companies from all parts of America are transforming the way
we do business by combining breakthrough research and development,
entrepreneurship and rapid growth.”
Cemtrex was previously recognized as a Technology Fast 500™
award winner for 2012, 2015, 2016, and 2017.
About CemtrexCemtrex, Inc. (NASDAQ:CETX) is the
manufacturer of the SmartDesk, the world’s most advanced
workstation. Cemtrex is a diversified technology company that's
driving innovation in a wide range of sectors, including smart
technology, virtual and augmented realities, advanced electronic
systems, industrial solutions, and intelligent security
systems.www.cemtrex.com
About Deloitte’s 2018 Technology Fast
500™Deloitte’s Technology Fast 500 provides a ranking of
the fastest growing technology, media, telecommunications, life
sciences and energy tech companies — both public and private — in
North America. Technology Fast 500 award winners are selected based
on percentage fiscal year revenue growth from 2014 to 2017.
In order to be eligible for Technology Fast 500 recognition,
companies must own proprietary intellectual property or technology
that is sold to customers in products that contribute to a majority
of the company's operating revenues. Companies must have base-year
operating revenues of at least $50,000 USD, and current-year
operating revenues of at least $5 million USD. Additionally,
companies must be in business for a minimum of four years and be
headquartered within North America.
Deloitte refers to one or more of Deloitte Touche Tohmatsu
Limited, a UK private company limited by guarantee (“DTTL”), its
network of member firms, and their related entities. DTTL and each
of its member firms are legally separate and independent entities.
DTTL (also referred to as “Deloitte Global”) does not provide
services to clients. In the United States, Deloitte refers to one
or more of the US member firms of DTTL, their related entities that
operate using the “Deloitte” name in the United States and their
respective affiliates. Certain services may not be available to
attest clients under the rules and regulations of public
accounting. Please see www.deloitte.com/about to learn more
about our global network of member firms.
Safe Harbor StatementThis press release
contains forward-looking statements. Actual results could differ
materially from those projected in the forward-looking statements
as a result of a number of risks and uncertainties. Statements made
herein are as of the date of this press release and should not be
relied upon as of any subsequent date.
For further information, please contact:
Investor Relations
Cemtrex, Inc.
Phone: 631-756-9116
investors@cemtrex.com
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