Mr. Andrew Malion reports

SPECTRA PRODUCTS INC. REPORTS 4TH QUARTER 2024 RESULTS

Spectra Products Inc. has released its financial results for the year ended Dec. 31, 2024.

Continued operational profitability in 2024 has allowed the company to increase its cash reserves by over $150,000 to $1,390,325 as at Dec. 31, 2024.

Revenues for the year ended Dec. 31, 2024, were $1,656,822, compared with $2,076,927 for the same period in 2023. Revenues for the fourth quarter ended Dec. 31, 2024, were $421,466, compared with $366,217 for the same period in 2023.

In the year ended Dec. 31, 2024, net income before taxes of $214,427 was earned, compared with net income before taxes of $387,159 for the same period in 2023. In the fourth quarter ended Dec. 31, 2024, net income before taxes of $73,337 was earned, compared with net income before taxes of $8,622 for the same period in 2023.

"Although Spectra experienced a reduction in revenue in 2024, we maintained strong margins and profitability over the course of the year," said Andrew Malion, chief executive officer of Spectra Products. "The fourth quarter showed particularly strong sales, setting us up for a strong start to 2025."

About Spectra Products Inc.

Spectra Products is the Toronto-based designer, manufacturer and distributor of wheel end safety products to the transportation industry. These products include Brake Safe, Zafety Lug Lock and Hub Alert, as well as the Termin-8RO line of anti-corrosion and extreme-pressure lubricants, and Optimum Fleet Health, a revolutionary artificial-intelligence predictive and prescriptive vehicle maintenance software.

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