Coda Octopus Group, Inc.: Third Quarter 2013 Results

Lakeland, FL September 18 ^th , 2013 - Coda Octopus Group, Inc. (OTC: CDOC.PK) yesterday announced its unaudited financial results for Q3 fiscal year 2013.

For the nine months ending July 31, 2013, the Group achieved revenues of $17.2m, up 11% from $15.5m for the comparable period last year, and Net Income of $3.9m up 12.1% from $3.5m in the previous year. The Group also generated a positive cash flow from its operating activities of $4.1m in the nine month period.  These results once again show the excellent progress the Group has made under its restructuring since September 2009.  The full Quarterly Report is available at http://www.otcmarkets.com/stock/CDOC/filings .

Annmarie Gayle, Group CEO said "These are another set of good results from the Group, again showing progress in all major areas.  Our Selling, General and Administrative Expenditures (SG&A) expenditures are running at around 24% of revenues in the nine month period and is in keeping with our plans. Although our financial performance as a business is susceptible to governmental procurement cycles and seasonal fluctuations we believe with the right strategy over the years we are confident of seeing continued progress the performance of our Group".