tiprankstipranks
Trending News
More News >

Spectra Products Inc. Reports Strong Fourth-Quarter Sales Amid Annual Revenue Decline

Story Highlights
Spectra Products Inc. Reports Strong Fourth-Quarter Sales Amid Annual Revenue Decline

Don’t Miss TipRanks’ Half-Year Sale

An update from Spectra ( (TSE:SSA) ) is now available.

Spectra Products Inc. reported a decrease in annual revenue for 2024 compared to 2023, with figures dropping from $2,076,927 to $1,656,822. Despite this, the company maintained operational profitability, increasing cash reserves by over $150,000. Fourth-quarter results showed a revenue increase from $366,217 in 2023 to $421,466 in 2024, and a significant rise in net income before taxes from $8,622 to $73,337. CEO Andrew Malion highlighted the strong fourth-quarter sales as a positive indicator for 2025.

More about Spectra

Spectra Products Inc. is a Toronto-based company specializing in the design, manufacturing, and distribution of wheel end safety products for the transportation industry. Their product lineup includes Brake Safe, Zafety Lug Lock, Hub Alert, the Termin-8R line of anti-corrosion and extreme pressure lubricants, and Optimum Fleet Health, an AI-driven vehicle maintenance software.

YTD Price Performance: -2.44%

Average Trading Volume: 37,091

Technical Sentiment Signal: Buy

Current Market Cap: C$2.73M

Learn more about SSA stock on TipRanks’ Stock Analysis page.

Disclaimer & DisclosureReport an Issue

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App
1