Spectra Systems Corp - Rhode Island, US-based authentication technology provider - Sees increased revenue from unnamed central bank customer contract after amending sensor development phase. Expects $2 million in additional revenue from amendment.

Chief Executive Nabil Lawandy says: ‘We continue to provide cutting edge capabilities to our central bank customers who depend on us to respond quickly and effectively to their increasing requirements.

‘This additional contract will increase the development phase from $8.8 million to $10.8 million while maintaining the existing timeline for sensor manufacturing and further solidifies our long-standing relationship with this central bank customer.’

Current stock price: 136.50 pence, up 2.6% on Wednesday

12-month change: down 17%

Copyright 2022 Alliance News Limited. All Rights Reserved.