REG - Spectra Systems Spectra Systems-SPSC - New K-cup Orders in Q4 Exceed Expectations

Spectra SystemsAnnouncement

06/12/2021 07:00

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RNS Number : 5982U  Spectra Systems Corporation  06 December 2021

Spectra Systems Corporation

December 6, 2021

 

Spectra Systems Corporation

("Spectra")

New K-cup Optical Materials Customer Orders in Q4 Exceed Expectations

Spectra Systems Corporation, a leader in machine-readable high speed banknote
authentication, brand protection technologies, and gaming security software,
is pleased to announce that its newest customer using the company's optical
materials in K-cups for Keurig brewers has already placed three orders
totaling $394,000 since September. The orders from the new customer are
already 93% of the expected 2021 revenues from this product and 46% higher
than total orders in 2020.

Dr. Nabil Lawandy, Chief Executive Officer, stated: "We are very pleased to
have received such large orders for our optical materials from our newest
K-cup printing customer.

"Based on this order pattern, we expect that this new customer, along with the
existing customer, will result in over $1MM of high margin revenue in 2022."

 

Enquiries:

 Spectra Systems Corporation
 Dr. Nabil Lawandy, Chief Executive Officer                   Tel: +1 (0) 401 274 4700

 WH Ireland Limited (Nominated adviser and broker)
 Chris Fielding (Head of Corporate Finance)                   Tel: +44 (0) 20 7220 1650

 Allenby Capital Limited (Joint Broker)
 Nick Naylor/James Reeve (Corporate Finance)                  Tel: +44 (0)20 3328 5665
 Amrit Nahal (Sales and corporate broking)

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