Coda Octopus Group, Inc. Reports Earnings Results for the Second Quarter Ended April 30, 2021
June 14, 2021 at 03:40 pm IST
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Coda Octopus Group, Inc. announced earnings results for the second quarter ended April 30, 2021. For the second quarter, the company announced sales was USD 5.373 million compared to USD 3.289 million a year ago. Operating income was USD 1.324 million compared to operating loss of USD 321,437 a year ago. Net income was USD 2.207 million compared to net loss of USD 265,080 a year ago. Basic earnings per share from continuing operations was USD 0.2 compared to basic loss per share from continuing operations of USD 0.02 a year ago. For the half year, sales was USD 10.423 million compared to USD 9.970 million a year ago. Operating income was USD 2.242 million compared to USD 1.133 million a year ago. Net income was USD 3.336 million compared to USD 1.081 million a year ago. Basic earnings per share from continuing operations was USD 0.31 compared to USD 0.1 a year ago. Diluted earnings per share from continuing operations was USD 0.3 compared to USD 0.1 a year ago.
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. 
