Spectra Systems Corporation Trading Update (6271T)
October 16 2017 - 1:00AM
UK Regulatory
TIDMSPSY TIDMSPSC
RNS Number : 6271T
Spectra Systems Corporation
16 October 2017
Spectra Systems Corporation ("Spectra")
Trading Update
This announcement contains inside information for the purposes
of Article 7 of Regulation 596/2014.
Spectra Systems Corporation, a leader in machine-readable high
speed banknote authentication and brand protection technologies,
today announces that it has been informed by its covert
authentication technology licensee, that royalties based on
finished printed notes will reach a record level in 2017. As a
result, Spectra expects that its profits for the year ending 31
December 2017 will significantly exceed market expectations.
Dr. Nabil Lawandy, Chief Executive Officer, stated: "We are
delighted to have received news from our licensee for covert
materials supplied to 18 central banks that the royalty component
of the agreement will as a result reach a record annual high in
2017. Typically the final royalty, determined by the number of
printed notes containing our materials, is not available until year
end. This year, we have visibility that it is already significantly
above expectations for the full year. Based on our licensee's
projections for material purchases, we expect the royalties to be
somewhat higher than average next year although not necessarily at
these record levels."
Enquiries:
Spectra Systems Corporation
Dr. Nabil Lawandy, Chief Executive Officer Tel: +1 (0) 401 274
4700
WH Ireland Limited
Chris Fielding (Head of Corporate Finance) Tel: +44 (0) 20 7220
1650
This information is provided by RNS
The company news service from the London Stock Exchange
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