NEW YORK, August 20, 2013 /PRNewswire/ --
SPO (SPOM), a leading developer of biosensor and microprocessor technologies for use in portable monitoring devices, announced recently its financial results for the fiscal quarter ended June 30, 2013.
Total revenue for first half 2013 was $249,000 compared to no revenues for the same period in 2012. In addition the Company has a current backlog of approximately $249,000 of purchase orders which it intends to deliver during 3rd quarter 2013. The revenue increase was attributed to shipments of our new consumer wellness product to mass market retailers. Since August 2012, we have partnered with HoMedics LLC for distribution of our private-labeled pulse oximeter known as the HoMedics Deluxe Pulse Oximeter.
Furthermore, the Company announced that it has commenced commercialization of its new consumer wellness time-piece designed to measure overall daily activity levels, especially useful for the estimated 100 million obese adults & children in the US. The Company is working closely with its distribution partner to realize this retail opportunity commencing late 2013 and beyond.
Michael Braunold, Chief Executive Officer of SPO commented: "We are pleased with our continuing success, working with our partners HoMedics for retail distribution of our private-labeled pulse oximeter. Our new wellness watch will also be available for sale shortly, and we look forward to capitalizing on both these revenue opportunities in the coming quarters and into 2014. Adding this second product to our portfolio in a relatively short period of time has allowed us to further expand our strategy in the fast-growing consumer wellness market. In addition, we continue to work on other product opportunities, including a unique baby-monitor for parental reassurance when babies are sleeping and a sports watch to continuously measure heart-r
|SOURCE SPO Medical|
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