Largest Single Order in Vicon 57-year History Highlights Technology Strength and Growth Strategy

Hauppauge, NY, Dec. 16, 2024 (GLOBE NEWSWIRE) -- Cemtrex Inc. (NASDAQ: CETX, CETXP), an advanced security technology and industrial services company, announced today that its Vicon Industries subsidiary has received a record breaking $10.4 million order for a state government corrections facility in the mid-Atlantic region. This significant order will expand the customer’s Valerus surveillance security system with additional hardware, including enhanced storage infrastructure.

The order, the largest in Vicon’s 57-year history, underscores Vicon’s commitment to delivering state-of-the-art surveillance solutions and is expected to be fulfilled in the Company’s second fiscal quarter of 2025, fully within Cemtrex’s fiscal year. Specific details about the customer remain confidential in accordance with non-disclosure agreements.

“This record order marks a significant moment in our company’s history and highlights Vicon’s industry leading surveillance technology,” said Saagar Govil, Chairman and CEO of Cemtrex. “It validates our strategic focus on driving growth through exceptional customer engagement and demonstrates the trust placed in us by our partners. Demand for Vicon continues to accelerate as our advanced solutions empower end-users to adapt to evolving security challenges. From license plate recognition (LPR) to integrated access control and video management, the Valerus platform provides a comprehensive, reliable solution that addresses the dynamic needs of today’s environments.”

Increasing demand for Vicon is being driven by sales execution and its next generation advanced surveillance technology. Organizations globally are seeking a reliable source of video surveillance and access control technologies fit for today’s highly dynamic environment, and Vicon’s complete solution enables them to expand as their needs evolve and new capabilities emerge. Most recently, Vicon launched the next evolution of camera technology with the NEXT™ Modular Camera System that transforms how security integrators and end-users install, interact, and support their camera systems.

“Vicon’s technology innovation, combined with the video surveillance market’s projected growth to $88.71 billion by 2030, reaffirms our expected growth potential for the company. We believe increasing demand for security solutions across various sectors, including corrections, school districts and border protection, combined with our innovative technology, will continue to drive orders and revenue momentum in the years to come. With this milestone order in hand, it puts Cemtrex on a path to achieve our goal of profitability in 2025,” concluded Govil.