Spectra Systems Corporation New K-cup Orders in Q4 Exceed Expectations (5982U)

TIDMSPSY TIDMSPSC

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           Tel: +1 (0) 401 274 
  Officer                                      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           Tel: +44 (0)20 3328 
  Finance)                                     5665 
 Amrit Nahal (Sales and corporate broking)

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December 06, 2021 02:00 ET (07:00 GMT)

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