CEDIP reports record sales growth

FEBRUARY 4--CEDIP Infrared Systems (Croissy-Beaubourg, France;www.cedip-infrared.com), a European manufacturer of IR thermal camera systems, has ended its 2002 financial year with record growth in sales and net profit. With considerable investments in new product development, high-technology manufacturing facilities, and customer staff, the company reported sales to have increased by 77% and profit by 80% when comparing 2002 versus 2001.

Expanding sales for both commercial and defense applications reflected the strong international impact of the high-performance JADE family of IR cameras. In 2002 approximately 80% of sales were exported. The investments made by CEDIP in production technologies were set up in January 2002 in its cleanroom facility and are now fully operational, resulting in a high-quality, rapid-manufacturing cycle.

Pierre Potet, president of CEDIP commented, "CEDIP has more than doubled its production capacity by investing continuously in high-technology manufacturing techniques over the last two years. For 2003, we are targeting a growth of 30% with the introduction of further new product lines."