For Immediate Release – May 31, 2002
Toronto, Ontario – Spectra Inc. (SSA: TSX VENTURE) reports the release of it’s financial results for the first 3 months of 2002. Revenues for the period ending March 31, 2002 were $94,815 compared to $83,649 for the same period in 2001, an increase of 13.3 percent.
The first quarter showed a net loss of $148,820 for the three-month period compared to a loss of $105,718 in 2001.
Andrew Malion, Chairman of Spectra Inc. commented, “Revenues during the first quarter of 2002 were up as a result of industry wide increases which we attribute to inventory replenishment. Continued revenue growth is anticipated in 2002 as the North American economy strengthens, as the sale of the SureStrokeTM product line gains momentum in the U.S. market and new products under final development 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, Brake InspectorTM a new, advanced electronic air brake diagnostic system 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 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 |
