Revenues Increase Over 29% From Previous Quarter
NEW YORK, May 15 /PRNewswire-FirstCall/ -- SPO Medical Inc. (OTC: SPOM), a leading developer of biosensor and microprocessor technologies for use in portable monitoring devices, announced its first quarter results for the period ended March 31, 2008.
Gross revenues for the period were US$1,079,000, a 29% increase over fourth quarter 2007 gross revenues. The increase in revenues was mainly attributed to greater distribution of the Company' core products, Check Mate(TM) and PulseOx 5500(TM) - the Company is now selling its products in 37 countries outside the U.S.
Additionally, during the first quarter, the Company commenced shipments of two new professional medical products; the PulseOx 6000(TM) (finger device) and PulseOx 6100(TM) (hand-held device). Both products use Reflective Pulse Oximetry (RPO) technology for accurate and reliable measurements of blood oxygen saturation and heart rate. In addition, these devices utilize the new SPO Medical AutoSpot(TM) technology for accurate measurements even with patients that suffer from low perfusion.
Michael Braunold, President and Chief Executive Officer of SPO Medical commented, "During the quarter we continued to successfully execute on our business strategy. We experienced an upturn in sales of our main product line. In addition, as promised, we began our foray into the professional healthcare market with the introduction of our two new products during the quarter, the PulseOx 6000(TM) and PulseOx 6100(TM). I am pleased to say their successful launch contributed to the improvement from the previous quarter in our top line performance." Mr. Braunold continued, "We continue to work diligently on the research and development side towards additional product launches to further complement our current product portfolio."
A more detailed description of the financial results and financial
statements are contained in the most re
|SOURCE SPO Medical Inc.|
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