For Immediate Release – May 3, 2004
Toronto, Ontario – Spectra Inc. (SSA: TSX VENTURE) reports the release of it’s financial results for the twelve month period ending December 31, 2003. Revenues for the fourth quarter ending December 31, 2003 were $106,702 compared to $93,427 in 2002, an increase of 14.2 percent. Revenues for the twelve month period ending December 31, 2002 were $445,052 compared to $434,884 for the same period in 2002, an increase of 2.3 percent.
A net loss of $658,856 was incurred during the twelve-month period ending December 31, 2003 compared to a net loss of $677,105 for the same period in 2002.
Andrew Malion, Chairman of Spectra stated, “The past year represented a challenge for Spectra as heavy duty parts sales to the U.S. Transportation Industry remained sluggish due to an ongoing Industry downturn and higher costs of fleet operation. A return to revenue growth for the Company is anticipated during 2004 as the North American economy strengthens and our new Brake Inspector ® product line continues to gain momentum with trucking and transit fleets.”
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 ® and SureStroke TM, visual brake stroke indicators, Brake Inspector® an innovative, 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 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 |
