For the 2013 Financial Year the Group achieved Revenues of $23.3m (up from $21.1m in the previous year) and Net Income of $5.4m (up from $4.9m. in the previous year). In the 2013 Financial Year our sales increased by 5.8% and Net Income by 7.9% whilst our total Operating Expenses rose by 2.6% from $6.2m to $6.4m. Key indicators in our latest balance sheet (such as stockholders’ equity which reached $900K against a deficit of $5.5m at the end of 2012) point to solid basis to continue to develop the Coda Octopus Group.

The full Annual Report is available at  www.otcmarkets.com (symbol – CDOC).

Annmarie Gayle, Group CEO said “These full year results show a continuation of the solid progress made by the Group over recent years with strong improvements in profitability and our balance sheet as a whole.

Although we expect our first quarter results to be down on last years’, we believe that the fundamentals are in place for the business to continue to grow. Assuming that we continue to see improvement in the global economy, the planned launch of a number of new products in this year combined with the opening of our new offices in Perth, Australia should, in conjunction with our existing products and services, provide  good foundation for another good year for the Group”. For more about these products and our strategy visit www.codaoctopus.com .

http://group.codaoctopus.com/2014/02/financia...31st-2013/