Coreco Q3 revenue rises 42%

OCTOBER 27--Coreco Inc. (Montreal, Canada; www.imaging.com), a supplier of machine-vision hardware and software used in various industries, said recently that its third-quarter revenues rose 42% compared with last year to $6.8 million US. All the company's geographic markets contributed to the higher revenues, led by Asia with 55% year-over-year sales growth followed by Europe, up 47%, and the United States, up 34%. Net earnings almost tripled to $800,374, or 11 cents per share. That compares with $274,410 US or four cents per share a year earlier.

"We are extremely pleased with our performance for the year to date," Keith Reuben, Coreco president and chief executive, said. "In the first nine months of 2004, our revenues are almost as high as for the entire 12 months of last year, while our earnings are already higher by 43%."

Coreco Inc., which employs 135 people, makes products that are integrated into high-performance machine-vision applications used in industrial, medical-imaging, multimedia, and surveillance markets. Its stock closed at $5.70 Cdn, up 25 cents, on the Toronto Stock Exchange.