Coreco Imaging reports first-quarter results

APRIL 30--Coreco Imaging Inc. (Montreal, Canada; www.imaging.com) reported revenue for the first quarter, ended March 31, 2002, of $4,837,358.

Apr 30th, 2002

APRIL 30--Coreco Imaging Inc. (Montreal, Canada; www.imaging.com) reported revenue for the first quarter, ended March 31, 2002, of $4,837,358, an increase of 2% on a sequential basis from $4,739,352 in the fourth quarter of 2001 and a decrease of 36% from $7,583,598 reported in the first quarter of 2001. (All dollar amounts expressed in US currency).

The company had net earnings of $163,573, or $0.02/share, versus a net loss of $725,074, or $0.10/share, in the same quarter last year. Net earnings from operations in the first quarter of 2002 amounted to $0.02/share compared with $0.10/share a year ago

Sales of new products continued to accelerate, accounting for 58% of total sales compared with 51% a year ago. At March 31, 2002, sales to Asia, Europe, and the USA accounted for 16%, 26%, and 50% of total sales, respectively.

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