For Immediate Release – June 1, 2001
Toronto, Ontario – Spectra Inc. (SSA: CDNX) reports the release of it’s financial results for the first 3 months of 2001. Revenues for the period ending March 31, 2001 were $83,649 compared to $162,272 for the period in 2000.
The first quarter showed a loss of $105,718 for the three-month period compared to a profit of $10,439 in 1999.
Andrew Malion, Chairman of Spectra Inc. commented, “the Company’s revenues were down from the same period last year as a result of the continuing slowdown of industry sales of visual brake stroke indicators in Canada. We anticipate a strong sales recovery during the remainder of 2001 resulting from the June product launch of the SureStroke TM product by our strategic partner, Bendix Commercial Vehicle Systems Inc. We have completed both the initial training of Bendix’s North American sales force and have finished production of Bendix’s initial stocking order.”
Spectra Inc. is a vertically integrated supplier of innovative products and services to the Commercial Transportation Industry and the Professional Trucker. Spectra’s product line increases productivity, reduces maintenance costs and improves fleet safety and includes Brake Inspector TM, an electronic brake diagnostic system, Brake Safe TM and SureStroke TM ,visual brake stroke indicators, and the Termin-8r TM line of anti-corrosion and extreme pressure lubricants. Spectra is positioned with its future ISP portal, Truckinguniverse.com to be a leading supplier of information to the transportation industry on the Information Superhighway.
Except for the historical information contained herein, this news release contains forward looking statements that involve risks and uncertainties, including the impact of competitive products and pricing and general economic conditions as they affect the Corporation’s customers. Actual results and developments may therefore differ materially from those described in this release.
On behalf of the Board of Directors,
Andrew J. Malion, Chairman, Spectra Inc. www.spectra-ssa.com
Investor Relations: 1-800-308-5255 E-Mail: ssa@spectra-ssa.com
The TSX VENTURE Exchange has neither approved nor disapproved the information contained herein |
