Two New Lottery Wins and Results Date

RNS Number : 4652Z

Spectra Systems Corporation

03 September 2018

 

Spectra Systems Corporation

("Spectra")

Two New Lottery Wins and Results Date

Spectra Systems Corporation, a leader in machine-readable high speed banknote authentication and brand protection technologies, and gaming security software, is pleased to announce that it has been selected by two new USA state lottery customers, for eight and seven year contracts, respectively.  The aggregate value of the contracts is estimated at $1MM over the full term with additional potential from software work plans of up to $0.25MM.

The performance of these contracts will not require additional staffing or significant infrastructure costs and will therefore have a positive impact on profits from 2019 -2026.

Dr. Nabil Lawandy, Chief Executive Officer, stated: "We are particularly proud of these contract wins as both are new customers which selected Spectra over our competitors and switched over to our new Integrity products.  These wins enforce the company's quality of revenues story that is underpinned by long term government contracts"

Spectra will be publishing its interim results for the six months ended 30 June 2018 on 24 September.

Enquiries:

Spectra Systems Corporation

Dr. Nabil Lawandy, Chief Executive Officer                                            Tel: [phone]

 WH Ireland Limited

Chris Fielding (Head of Corporate Finance)                                          Tel: [phone]

 

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