Cemtrex, Inc. Q2 FY2024 earnings call

• Second quarter revenue was $17.2 million, up 7%, with gross margin at 40%. Operating loss was $1 million vs $0.4 million in the prior year. - Security segment revenue decreased 18% due to project delays, but Vicon introduced Anavio cloud security platform. - Industrial Services segment revenue increased 47% mainly due to Heisey acquisition and increased demand. - Continued investment in Security sales/marketing, reduced Security inventory by over $1 million, and expect growth with Anavio and Valerus. - AIS secured orders like $1.6M and $0.5M orders.

For the second quarter, Cemtrex had total revenue of $17.2 million. The Security segment had revenue of $8.1 million, a decrease of 18%, contributing approximately 47.1% of total revenue. The Industrial Services segment (AIS) had revenue of $9.1 million, an increase of 47%, contributing approximately 52.9% of total revenue.

• Goal to achieve full year operating profit. - Strengthened balance sheet with $10M public offering, used part to pay off indebtedness. - Exploring acquisition opportunities to enhance market reach and service capabilities. - Committed to positive operating income for full year 2024.

Q: Jared Cohen with JM Cohen & Company A: And we currently have no questions at this time