For Immediate Release – November 30, 2001
Toronto, Ontario – Spectra Inc. (SSA: CDNX) reports the release of it’s financial results for the first nine months of 2001. Revenues for the third quarter ending September 30, 2001 were $82,990 a decrease of 32.1 percent compared to $122,156 in 2000. For the nine-month period ending September 30, 2001, revenues were $ 431,144, and decrease of 4.2 percent compared to $450,116 for the same period in 2000.
A net loss of $291,728 was incurred during the nine-month period ending September 30, 2001 compared to a net loss of $89,802 for the same period in 2000.
Andrew Malion, Chairman of Spectra stated, “During the past quarter, Spectra’s sales declined as a result of the overall economic downturn which has had an impact on the transportation industry. We anticipate a return to revenue growth as the sales of the SureStroke TM product in the United States continues to gather momentum and our new products are introduced to the marketplace.”
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 Safe TM and SureStroke TM, visual brake stroke indicators, and the Termin-8R TM line of anti-corrosion and extreme pressure lubricants.
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 Company’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 |
