CEDIP Reports Record Growth in Sales and Profit

Croissy-Beaubourg, France, February 3, 2003. CEDIP Infrared Systems a European manufacturer of IR thermal camera systems, has ended its 2002 financial year with record growth in sales and net profit.

On the back of considerable investment in new product development, high technology manufacturing facilities and customer facing 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 clean room 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. These technologies allow us to offer top quality products with the highest performance available. Our customers are very demanding and we can now fully satisfy their requirements since our product technology is now mature as our production capability. For 2003, we are targeting a growth of 30% with the introduction of further new product lines"

For more information, visit www.cedip-infrared.com .

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