Coda Octopus up after quarterly revenue rise
CODA•Shares rise after quarterly revenue increase
Shares of subsea sonar technology provider Coda Octopus CODA.O gained about 3% at $10.36 in premarket trading after the company reported quarterly results.
- Q3 total revenue jumped 9.2% to $7.7 million.
- Q3 EPS rose to $0.12 from $0.11 a year earlier.
- The company reported strong growth in its defense engineering and acoustic-sensing businesses.
- Revenue from the core marine technology business fell 15.2%, hurt by geopolitical instability tied to the Iran conflict, CEO Annmarie Gayle said.
- The stock was up about 8% year to date before the latest move.
