For Immediate Release – November 30, 2004
Toronto, Ontario – Spectra Inc. (SSA: TSX VENTURE) reports the release of it’s financial results for the first 9 months of 2004. Revenues for the third quarter were $210,944 compared to $110,389 for the same period in 2002. Revenues for the nine month period ending September 30, 2004 were $487,056, an increase of 44 percent compared to $338,350 for the same period in 2003.
The third quarter showed a net loss of $32,475 for the three-month period compared to a loss of $128,528 in 2003. During the first nine months of 2004 a net loss of $271,678 was incurred compared to a loss of $362,170 for the same period in 2003.
Spectra Products Inc. is the Toronto-based North American designer, manufacturer and distributor of Brake SafeTM, the visual brake stroke indicating system and Brake InspectorTM, the company’s electronic in-cab air brake diagnostic system. During the recent Operation Air Brake roadside inspections conducted in Canada and the United States brake defects were found to be the leading cause of vehicles being put out of service, accounting for 69 percent of major defects (source: Operation Air Brake Statistics - September 2004). Spectra’s products are gaining increasing recognition and acceptance as demands for enhanced brake safety increase among regulatory authorities and the motoring public.
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 |
