For Immediate Release – April 28, 2005
Toronto, Ontario – Spectra Inc. (SSA: TSX VENTURE) reports the release of it’s financial results for the twelve month period ending December 31, 2004. Revenues for the fourth quarter ending December 31, 2004 were $212,584 compared to $106,702 in 2003, an increase of 99.2 percent. Revenues for the twelve month period ending December 31, 2004 were $699,640 compared to $445,052 for the same period in 2003, an increase of 57.2 percent.
A net loss of $512,281 was incurred during the twelve-month period ending December 31, 2004 compared to a net loss of $658,856 for the same period in 2003.
Andrew Malion, Chairman of Spectra stated, “The past year represented a significant upturn for Spectra as heavy duty parts sales to the U.S. Transportation Industry continued to recover resulting in growth improvement. Revenue growth for the Company is anticipated to continue in 2005 as the North American economy strengthens and truck safety enforcement in the United States increases. The successful introduction of the Brake Inspector ® product line to the transportation industry is having a positive impact on revenue growth as sales momentum increases in the trucking and transit sectors.”
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 |
