NEW YORK, April 1, 2005 (PRIMEZONE) -- Coda Octopus Group, Inc. (Pink Sheets:CDOC) has announced a new high-profile sale: a contract to supply specially adapted Octopus 200 series printers to Atlas Elektronik GmbH. The contract, valued in excess of $101,000, will see the 20-inch printers integrated into Atlas' naval submarine sonar systems for customers worldwide.
The acquisition of the thermal greyscale printer business from Ultra Electronics last year immediately broadened the range of Coda Octopus products which are particularly suited to the defense industry. Octopus printers and associated products now account for sales of approximately $750,000 per annum.
Octopus 120 series and 200 series greyscale printers have a proven track record and are widely used in geophysical survey and defense applications. They produce high quality continuous images onto thermal paper or film and are ideal for hardcopy output of both sidescan and seismic geophysical data and other continuous data. Both models offer 200 dots per inch (dpi) print resolution at up to 256 gray levels, with 2368 pixel print width (120 series) and 4096 pixel print width (200 series) enabling data to be printed at very high resolutions. With 20% greater print width than other similar models, the Octopus 120 is able to print three channels without compromising resolution.
Commenting on the Atlas Elektronik contract, Coda Octopus Sales Manager Stephen Auld said, "With ten printers already supplied to Atlas, this new contract secures the supply of printer, spares and support to Atlas Elektronik for the foreseeable future."
Details of the Octopus 120 series and 200 series printers can be found at http://www.codaoctopus.com/printers/index.asp
Safe Harbor Statement: Except for historical information, the matters set forth herein, which are forward-looking statements, involve certain risks and uncertainties that could cause actual results to differ. Potential risks and uncertainties include, but are not limited to market acceptance of Coda Octopus' planned products and their level of sales, the competitive environment and successful technical and economic implementation.