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HAUPPAUGE, NY - Vicon Industries, a subsidiary of Cemtrex Inc. (NASDAQ:CETX), announced Thursday it has received a purchase order exceeding $500,000 for its NEXT Modular Sensor System from a major school district in Kentucky. The order comes as Cemtrex, currently valued at $4.12 million in market capitalization, shows strong revenue growth of nearly 13% over the last twelve months, according to InvestingPro data.
The order includes over 550 NEXT camera sensors with PTRZ lenses and on-device analytics, according to the company’s press release. The system will be deployed across multiple school campuses and is expected to be fulfilled in Cemtrex’s fiscal fourth quarter.
Vicon’s NEXT platform, which began shipping in limited quantities last quarter, features a modular architecture that the company claims reduces installation time. The school deployment will utilize various sensor configurations including solo, duo, trio, and quad sensors.
The system will be powered by Vicon’s Anavio cloud-native video management platform, which provides remote access, centralized device management, health monitoring, and real-time alerts.
"Our partners are competing, and winning, because of how quickly it installs, how flexibly it deploys, and how much value it delivers out of the box," said Saagar Govil, Cemtrex CEO, in the statement.
Vicon has grown revenue from $21 million in fiscal year 2021 and reports it is on track to exceed $36 million in fiscal year 2025, representing a compound annual growth rate of over 14%.
The customer’s name was not disclosed due to confidentiality agreements.
In other recent news, Cemtrex Inc. has announced that its subsidiary, Vicon Industries, secured a significant follow-on order exceeding $1.2 million for a security upgrade project with a major Midwestern county government. This order, which includes Vicon’s high-performance cameras and video management software, is expected to contribute to the company’s fiscal 2025 results. Additionally, Cemtrex reported $41 million in revenue for the first half of fiscal 2025, marking a 20% year-over-year increase, primarily driven by its Vicon Security business. The company also revealed it is exploring growth through acquisitions, evaluating potential targets that could add $3 to $4 million in annual operating income.
Furthermore, Cemtrex has regained compliance with Nasdaq’s stockholders’ equity requirements, following a previous warning regarding its equity levels. The company’s recent financial report showed stockholders’ equity of $6,403,022, meeting the necessary standards for continued listing. Cemtrex’s efforts to transform Vicon into a modern surveillance platform have been reinforced by growing market interest and recent industry awards. The company emphasizes its commitment to strategic growth and innovation, aiming to enhance value for its customers and shareholders.
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