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Spectra Products Inc. (previously Spectra Inc.) Reports

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JonnyRBuck12   Thursday, 04/23/20 09:47:06 AM
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Spectra Products Inc. (previously Spectra Inc.) Reports
Fourth Quarter 2019 Results
For Immediate Release – April 23, 2020
Toronto, Ontario – Spectra Inc. (SSA: TSX VENTURE) reports the release of its financial results
for the twelve-month ended December 31, 2019. Revenues for the twelve-month period ending
December 31, 2019 were $2,036,047 compared to $2,045,806 for the same period in 2018.
Revenues for the fourth quarter ending December 31, 2019 were $380,944 compared to $444,429
in 2018.
In the twelve-month period ended December 31, 2019, a net profit before income taxes of
$364,468 was earned compared to a net profit before income taxes of $495,372 for the twelvemonth period ended December 31, 2018.
The fourth quarter ended December 31, 2019 showed a net loss before income taxes of $71,309
compared to a net profit before income taxes of $108,436 for the fourth quarter ended December
31, 2018.
As a result of the improved financial position of the Company, the Directors now believe that a
deferred tax asset of $508,407 can be recognized. This was done in the fourth quarter of 2019,
resulting in net profit after taxes for the fourth quarter of 2019 of $437,098 and net profit after
taxes for of $872,875 for the year ended December 31, 2019.
Spectra Products Inc. is the Toronto-based North American designer, manufacturer and
distributor of wheel end safety products to the transportation industry. These products include
Brake SafeÒ, Brake InspectorÒ, Zafety Lug LockÒ, Hub Alert™ and the Anti-Seize Cotter Pin™ as
well as the Termin-8RÒ 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 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 Malion, President, Spectra Products Inc.
Investor Relations: 1-800-308-5255
E-Mail: info@spectrainc.ca
Website: www.spectrainc.ca

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