Spectra Systems Reports Another Successful Year

Spectra Systems’ annual report, released at the end of June, showed revenues for 2023 increased by 3.4% to $20.28 million and operating profit, EDITDA (before stock compensation expenses) by 3.9% to $8.39 million.

The Physical and Software Authentications Systems business achieved similar revenues as the previous year, of $18.41 million, driven by high demand for covert materials and price increases for supply chain mitigation, strong sales of optical materials and continuing funding for sensor development.

The Secure Transactions Group (software) generated sales of $1.67 million and adjusted EBITDA of $132,000 (2022 = $72,000) on revenue of $1.67 million (2022 = $1.463 million). This was in line with expectations.

Sales in the Security Printing business, from the acquisition of Cartor Security Printers (CSP) in December 2023, generated revenue of $164,000 during the 10-day period ended 31 December 2023. In the year to September 2023, CSP’s sales were £16.18 million and EBITDA £2.25 million.