New K-cup Orders in Q4 Exceed Expectations

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: [phone]
WH Ireland Limited  (Nominated adviser and broker)
Chris Fielding (Head of Corporate Finance)	Tel: [phone]
Allenby Capital Limited  (Joint Broker)
Nick Naylor/James Reeve (Corporate Finance)	Tel: [phone]
Amrit Nahal (Sales and corporate broking)

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