Spectra Systems flags bumper royalties in current year
Spectra Systems Corporation
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13:49 01/05/24
Banknote authentication and brand protection technology provider Spectra Systems Corporation announced on Monday that it has been informed by its covert authentication technology licensee that royalties based on finished printed notes will reach a record level in 2017.
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The AIM-traded firm said that as a result, it expected that its profits for the year ending 31 December 2017 will “significantly exceed” market expectations.
“We are delighted to have received news from our licensee for covert materials supplied to 18 central banks that the royalty component of the agreement will as a result reach a record annual high in 2017,” said chief executive Nabil Lawandy.
“Typically the final royalty, determined by the number of printed notes containing our materials, is not available until year end.”
Dr Lawandy said that this year, the company had visibility that it was already “significantly above” expectations for the full year.
“Based on our licensee's projections for material purchases, we expect the royalties to be somewhat higher than average next year although not necessarily at these record levels.”