Spectra Systems Corporation
16 July, 2024
Spectra Systems Corporation ("Spectra")
New
Spectra Systems Corporation, a leader in machine-readable high speed banknote authentication, brand protection technologies, security printing and gaming security software, is pleased to announce that on 15 July 2024 it entered into a contract worth
Revenue recognition will be based on a standard cost accounting basis with certain progress milestones related to expenditures. The bulk of the revenues related to the contract are expected to be received from Q1 2025 through Q4 2027, with trailing manufacturing contract revenues of approximately
Finally, the Board expects to execute a service agreement relating to the new sensors with this customer in Q1 of 2025.
Dr. Nabil Lawandy, Chief Executive Officer, stated: "This long-awaited contract for the third generation of sensors follows after over
This announcement contains inside information for the purposes of Article 7 of the
The person responsible for arranging the release of this announcement on behalf of the Company is Dr. Nabil Lawandy, Chief Executive Officer of the Company.
Enquiries:
Spectra Systems Corporation Dr. Nabil Lawandy, Chief Executive Officer
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Tel: +1 (0)401 274 4700
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Zeus Capital Limited (Nominated Adviser and Joint Broker) Chris Fielding (Director, Investment Banking) James Bavister/ Andrew de Andrade (Investment Banking)
Allenby Capital Limited (Joint Broker) Nick Naylor/James Reeve (Corporate Finance) Amrit Nahal (Sales and Corporate Broking) |
Tel: +44 (0)20 3829 5000
Tel: +44 (0)20 3328 5665
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