Farmingdale, NY, May 17, 2017  -- Cemtrex (Nasdaq: CETX, CETXP, CETXW), a world leading industrial and manufacturing leader, announced today that it has received more than $21 million in new orders during the month of April, including contracts with PPG, Covanta, US Mint, Mitsubishi Heavy Industries and Kelvion, just to name a few. 

 

One of the orders Cemtrex secured during the period is a three year agreement estimated to be worth $15 million for Cemtrex’s electronics manufacturing services business in Germany. The order is the largest single order ever placed with the Company. The remaining orders were split approximately even between the IPS and EMS segments and are expected to be executed over the next twelve months.

EDGEWOOD, NY--(May 9, 2017) - CPI Aerostructures, Inc. ("CPI Aero®") (NYSE MKT: CVU) today announced financial results for the three month period ended March 31, 2017.

 

1Q 2017 vs. 1Q 2016

Revenue of $20.0 million compared to $12.7 million; 

Gross profit (loss) was $4.5 million compared to $(11.6) million;

Pre-tax income (loss) was $2.0 million compared to $(14.6) million;

HONG KONG, CHINA--(May 9, 2017) - YSK1860, an investment holding company with investments in different countries covering a wide range of sectors from traditional construction, real estate, trading to environmental and the Internet, today announced that on April 27, 2017, it acquired all of the shares of Cleantech Solutions International, Inc. ("Cleantech Solutions") (NASDAQ: CLNT) previously held by Cleantech Solutions' Chairman and CEO, Mr. Jinhua Wu, and his affiliates.

 

Pursuant to the terms of the agreement, YSK1860 purchased 416,249 shares of Cleantech Solutions stock from Mr. Wu and his affiliates for $970,000, or $2.33 per share. Mr. Wu and his affiliates decision to sell their shares was based on personal reasons, and Mr. Wu will retain his positions as Chairman and CEO of Cleantech Solutions going forward.

First-Quarter Operating Income Reaches $11.1 Million, on 30% Sales Growth;

Record Market Share Performance; Board Declares Regular Quarterly Cash Dividend

 

Olympic Steel Inc., (Nasdaq: ZEUS), a leading national metals service center, today announced financial results for the first quarter ended March 31, 2017.

 

First-quarter net sales increased 30% in 2017, reaching $334.9 million, compared with $258.3 million in last year’s same quarter. The improvement in net sales was driven by increased shipping volumes and higher average selling prices in all of the Company’s products.

 

Net income rose to $7.7 million, or $0.68 per diluted share in the first quarter, compared to the first-quarter loss of $0.8 million, or $0.07 per share, in 2016. An out-of-period income tax adjustment related to the future tax deductibility of certain payments from one of the Company’s retirement plans resulted in a one-time reduction of income tax expense that increased net income by $1.9 million, or $0.17 per diluted share, in the quarter. The Company recorded $0.4 million in LIFO expense in the quarter, compared with no LIFO impact in the first quarter of 2016.