Spectra Systems Corp (SPSY) shares got a boost in early trading today (Monday) on the back of the positive report of a rise in revenue and profit for 2020 as demand for banknote materials and equipment increased. Not bad, given most companies have nothing but negative reports for 2020.
The Rhode Island-based company generated revenue of $14.7 million, up 11% from $13.2 million the prior year. Pretax profit increased by 20% to $5.4 million from $4.5 million. The firm declared an annual dividend of $0.095 per share and said share buybacks will continue.
Shares were up 4.5% at 170p bid at the close today; Spectra remains 5p lower than the Zulu Growth report on 7th February 2021.