Spectra Systems wins two new US lottery customers

(Sharecast News) - Machine-readable high speed banknote authentication and brand protection technologies provider Spectra Systems Corporation has been selected by two new US state lottery customers for eight and seven year contracts respectively, it announced on Monday.The AIM-traded company said the aggregate value of the contracts was estimated at $1m over the full term, with additional potential from software work plans of up to $0.25m.It said the performance of the contracts would not require additional staffing or "significant" infrastructure costs, and would therefore have a positive impact on profits from 2019 through to 2026."We are particularly proud of these contract wins as both are new customers which selected Spectra over our competitors and switched over to our new Integrity products," said chief executive officer Dr Nabil Lawandy."These wins enforce the company's quality of revenues story that is underpinned by long term government contracts."Spectra said it would publish its interim results for the six months ended 30 June on 24 September.