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Spectra Secures USD3.2 Million Pact Extension For Optical Materials

(Alliance News) - Transaction security software firm Spectra Systems Corp said Tuesday it has ...

Alliance News 11 June, 2019 | 12:23PM
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(Alliance News) - Transaction security software firm Spectra Systems Corp said Tuesday it has extended a contract with an unnamed existing customer to provide optical materials worth at least USD3.2 million.

The five-year contract is with "one of the largest suppliers of security inks for the banknote industry" and will start in April 2020. Over the life of the contract, Spectra will generate a minimum of USD3.2 million in revenue which will secure its revenue for this component.

In 2018, Spectra generated USD4.0 million pretax profit from USD12.5 million in revenue.

"We are delighted to have executed this contract which secures the use of our phoshour materials in some of the world's leading banknotes," Spectra Chief Executive Officer Nabil Lawandy said. "This contract, along with other recent service and sensor development contracts further underpins our revenues and earnings visibility going forward."

Shares in Spectra were 5.4% higher at 137.00 pence in London on Tuesday.

By Ahren Lester; ahrenlester@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Spectra Systems Corp 128.00 GBX 0.00 -

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