For Immediate Release – September 4, 2001
Toronto, Ontario – Spectra Inc. (SSA: CDNX) reports the release of it’s financial results for the first six months of 2001. Revenues for the second quarter ending June 30, 2001 were $318,883 an increase of 92.5 percent compared to $165,688 in 2000. For the six month period ending June 30, 2001, revenues were $ 402,532, an increase of 22.7 percent compared to $327,960 for the same period in 2000.
A net loss of $90,455 was incurred during the six month period ending June 30, 2001 compared to a net loss of $22,958 for the same period in 2000.
Andrew Malion, Chairman of Spectra Inc. stated, “During the past quarter, Spectra shipped the initial stocking order of the SureStroke TM product line to Bendix Commercial Vehicle Systems. The response to SureStroke TM by the Bendix sales and marketing groups has been exceptionally positive.We anticipate strong revenue growth during the remainder of our fiscal year as the launch of SureStroke TM continues throughout North America.”
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. 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 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 |
