Coda Octopus Group, Inc. Provides Earnings Guidance for the Year Ended October 31, 2016
January 11, 2017 at 02:01 pm
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Coda Octopus Group, Inc. provided earnings guidance for the year ended October 31, 2016. The anticipates reporting total revenue of approximately $21.1 million for the year ended October 31, 2016 compared to $19.234 million for the year ended October 31, 2015, an increase of approximately 10%. The company anticipates reporting net income of approximately $4.6 million for the year ended October 31, 2016 compared to $1.070 million for the year ended October 31, 2015.
Coda Octopus Group, Inc. is a supplier to the underwater/subsea market. The Company operates through two business: marine technology business and marine engineering business. Its marine technology business provides technology solution to the subsea and underwater market. It owns technology comprising its real time volumetric imaging sonar technology (Echoscope technology) and diving technology (DAVD or Diver Augmented Vision Display), both of which are applicable to the underwater defense and commercial markets. Its imaging sonar technology products and solutions are marketed under the name of Echoscope and Echoscope PIPE. Its diving technology is marketed under the name of CodaOctopus DAVD. The Company's marine engineering business supplies embedded solutions and sub-assemblies, which it designs and manufactures and sells into integrated defense systems. The marine engineering business model entails designing sub-assembly prototypes, which are utilized in broader defense programs.
CODA OCTOPUS GROUP, INC. 
