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Coreco Reports Third Quarter Results
November 5, 2002 |Estimated reading time: Less than a minute
Montreal -- Coreco Inc. has reported its interim results for the period ended September 30, 2002.
Revenue for the third quarter ended September 30, 2002, amounted to US $4.7 million, which was consistent with revenue in the first two first quarters of the current fiscal year but a 22 percent decrease from same-quarter revenue of US $6 million a year earlier.
Net earnings amounted to US $233,396, or US 3 cents per share, compared with a net loss of US $915,201, or US 13 cents per share, in the third quarter of last year. Excluding the effect of the new CICA accounting recommendations regarding goodwill amortization, net earnings from operations amounted to US $233,396, or US 3 cents per share, versus US $505,046, or US 7 cents per share, in the third quarter of 2001.
For the nine-month period, revenue was US $14.5 million versus US $21.2 million a year earlier, and net earnings were US $672,697, or US 9 cents per share, compared with a net loss of US $2.2 million, or US 31 cents per share, in the previous year.
Coreco Inc. is a leader in the design, development, manufacturing and marketing of hardware and software for high-performance computer vision applications, primarily in the medical imaging, machine vision and industrial inspection markets. For more information, visit www.imaging.com.