Spectra Inc. Reports 1999 Financial Results
11 April 2000
Spectra Inc. Reports 1999 Financial Results
TORONTO--April 11, 2000--Spectra Inc. (CDNX:SSA.) reports the release of it's financial results for its 12 month fiscal year ended December 31, 1999.Net Profit for the period ending December 31, 1999 was $89,695, a 35.6 percent increase compared with a net profit of $66,138 for the corresponding period in 1998. Although revenues for the twelve months ending December 31, 1999 were $737,493, down from $811,496 in 1998, net profits increased as a result of lower royalties and the deferment of distribution related costs.
Andrew Malion, Chairman of Spectra Inc. stated, "We are very pleased with eight consecutive quarters of profitability and are looking at year 2000 for continued growth in profits and revenues. We anticipate successful launching in fiscal 2000 of Termin-8r (r), Brake Inspector (tm) and Truckinguniverse.com should significantly enhance the past two years of profitability."
Spectra Inc. is an Internet Service Provider focusing on the Internet connectivity needs of the transportation industry. Spectra's "Truckinguniverse.com" will provide industry fleets, owner operators and commercial vendors a host of services and products that include transportation specific content, Internet access, electronic commerce, e-mail and a 24/7/365 toll free technical support team. Spectra is also a manufacturer and distributor of safety products for the commercial transportation industry in North America. Its primary safety products include the innovative Brake Safe (tm), a visual brake stroke indicator; Brake Inspector (tm), an electronic brake stroke indicator system; the revolutionary SmarTire (tm), a tire monitoring system, as well as Termin-8r(r), a new line of anti-corrosion and extreme pressure lubricating products.
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.
The Canadian Venture Exchange has neither approved nor disapproved the information contained herein.