A Mixed Bag in Latest Results from Cash Leaders

Last month, we covered the annual results of five of the major companies in the cash sector – Brinks, Loomis, NCR, Diebold Nixdorf and Crane Co. All bar one reported an increase in both sales and profits, indicating an end to the COVID-induced turmoil of the previous year.

This month is the turn of Spectra Systems, Orell Füssli and Prosegur, where the results are more mixed.

Another profitable year for Spectra

Spectra Systems Corporation is developer of machine-readable, high speed banknote authentication, brand protection technologies and gaming security software. It supplies central banks with covert, high security level 3 features and sensors, both directly and through a well-established licensee.

It announced revenues of $16.6 million for 2021, a 13% increase over 2020. Adjusted operating profit (EBITDA) also gained over the previous year, increasing by 8% to $6.9 million. Net income at $5.16 million was just ahead of the $5.124 million achieved in 2020. The company noted its strong, debt-free balance sheet with cash of $16.775 million compared at the end of 2020, an increase of 19.5%, and its intention to buy back 500,000 shares during this year.