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13:07:04 EDT Sun 19 May 2024
Enter Symbol
or Name
USA
CA



Spectra Products Inc (2)
Symbol SSA
Shares Issued 14,650,895
Close 2023-05-18 C$ 0.17
Market Cap C$ 2,490,652
Recent Sedar Documents

Spectra Products earns $109,551 before taxes in Q1

2023-05-24 10:22 ET - News Release

Veroy Subject: Fw: Spectra Products Q1 2023 Financials results Word Document File: '\\swfile\EmailIn\20230524 070021 Attachment 2023-03 Press Release 2023 Q1.docx' Spectra Products Inc. Reports First Quarter 2023 Results For Immediate Release - May 23, 2023 Toronto, Ontario - Spectra Products Inc. (SSA: TSX VENTURE) reports the release of its financial results for the three months ended March 31, 2023. Continued operational profitability in 2022 has allowed the Company to maintain its cash reserves at over $1 million as at March 31, 2023. Revenues for the three-month period ended March 31, 2023 were $533,572 compared to $356,561 for the same period in 2022, an increase of 50%. In the three-month period ended March 31, 2023, net income before taxes of $109,551 was earned compared to net income before taxes of $43,521 for the same period in 2022, an increase of 152%. "We are excited to report a strong first quarter for Spectra Products Inc., with significant revenue growth and profitability" said Andrew Malion CEO of Spectra Products Inc. "This is a result of increased sales in the large US trucking market for several products." 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 SafeO, Zafety Lug LockO, and Hub Alert(TM) as well as the Termin-8RO line of Electric vehicle protection, 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. NOT FOR DISTRIBUTION TO US NEWS WIRE SERVICES NOR FOR DISSEMINATION IN THE UNITED STATES 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 ______________________________________________________________________ Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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