Company Maintains Quarterly Revenues in Challenging Marketplace
NEW YORK, August 15 /PRNewswire-FirstCall/ -- SPO Medical Inc. (OTC: SPOM - News), a leading developer of biosensor and microprocessor technologies for use in portable monitoring devices, announced its second quarter results for the period ended June 30, 2008.
Gross revenues for the period were US$1,089,000, a 1% increase over first quarter 2008 gross revenues. The Company maintained consistent gross revenue levels despite the challenging worldwide economic environment, particularly in its primary U.S. homecare market.
During the second quarter, the Company released its PulseOx 7500(TM) supporting GUI (graphic user interface) and report generation in multiple languages including French, Italian, German and Spanish ("FIGS") along with English. Additionally, the Company announced it had initiated field trials for its latest homecare wellness product using SPO's patented technology and creating a new application for the traditional home baby monitor market.
Michael Braunold, President and Chief Executive Officer of SPO Medical commented, "Despite a less than favorable macro-economic climate, we continue to introduce new products into the marketplace while expanding the distribution of our existing product line. Last quarter we were excited to announce our foray into the professional healthcare market with the introduction of two new products, the PulseOx 6000(TM) and PulseOx 6100(TM). We are pleased to report during the second quarter we witnessed an increase in sales and distribution for these new products " Mr. Braunold continued, "Additionally, the release of the enhanced PulseOx 7500(TM) supporting FIGS report generation has been received well by our European distributors."
A more detailed description of the financial results and financial statements are contained in the Company's most recent Quarterly Report on Form 10-QSB filed with the SEC.
About SPO Medical:
SPO Medical (SPOM) a leading developer of biosensor and microprocessor technologies for use in portable monitoring devices to capture life-saving and life-enhancing information within four key markets: medical care; home and remote-care; sports and wellness; and safety and security. Its patented technology uses information gathered from the reflectance of light on the human blood stream, in a non-invasive manner, to monitor key vital signs. The Company distributes its products through a network of distributors and also licenses its technologies to appropriate client corporations for commercialization and distribution. For more information, visit http://www.spomedical.com and http://www.spobaby.com
Forward Looking Statements:
This press release contains forward-looking statements that involve
substantial uncertainties and risks. These forward-looking statements are
based upon our current expectations, estimates and projections about our
business and our industry, and that reflect our beliefs and assumptions
based upon information available to us at the date of this release. We
caution readers that forward-looking statements are predictions based on
our current expectations about future events. These forward-looking
statements are not guarantees of future performance and are subject to
risks, uncertainties and assumptions that are difficult to predict. Our
actual results, performance or achievements could differ materially from
those expressed or implied by the forward-looking statements as a result of
a number of factors, including but not limited to, market acceptance of our
new products, changes in economic conditions generally and the medical
devices market specifically, changes in technology, legislative or
regulatory changes that affect us, the availability of working capital, the
introduction of competing products, changes in our operating strategy or
development plans and the risks and uncertainties discussed under the
heading "Risk Factors" in Item 1 of our Annual Report on Form 10-KSB for
the fiscal year ended December 31, 2007. We undertake no obligation to
revise or update any forward-looking statement for any reason.
SPO Medical Contact:
Michael Braunold, President and CEO
Investor Relations Contact: Howard Gostfrand / David Sasso
|SOURCE SPO Medical Inc.|
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