Sales Growth Reflects Increased Market Penetration and Entry Into
Professional Medical Markets
NEW YORK, March 25 /PRNewswire-FirstCall/ -- SPO Medical Inc. (OTC: SPOM), a leading developer of biosensor and microprocessor technologies for use in portable monitoring devices, announced today that it has filed its Annual Report on Form 10-KSB for the year ended December 31, 2007.
Gross revenues of US$5.01 Million were recorded in 2007, a 35% increase on the gross revenues for 2006 of US$3.71 Million. The 2007 revenues reflected increasing sales of SPO Medical's PulseOx 5500(TM) and Check Mate(TM) and the initial entry in to the professional medical market with the first sales of the PulseOx 7500(TM), a pre-screening tool for monitoring Sleep Apnea.
"SPO Medical is delighted to report increased annual sales and market penetration during 2007," said Michael Braunold, President and Chief Executive Officer of SPO Medical. "We have now sold in excess of 125,000 SPO Medical pulse oximeters and have increased our distribution base to 38 countries. In 2007, we further expanded our professional medical market product portfolio with the recent release of two new professional products: the finger PulseOx 6000(TM) and the hand-held PulseOx 6100(TM). We're especially optimistic about their sales prospects as they leverage our reputation for quality, low maintenance and environmentally efficient products in the professional medical market."
Mr. Braunold concluded, "Despite the current general economic global atmosphere, SPO Medical is looking forward to market growth opportunities during 2008 as we build upon our 2007 achievements, further increase our worldwide distribution base and grow our portfolio of products. We believe achievement of these strategic goals will contribute to increased value for SPO Medical shareholders."
A more detailed description of the financial results and financial statements are contained in the Annual Report on Form 10-KSB filed with the SEC on March 21, 2008.
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.
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, 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,
market acceptance of our new 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.
Michael Braunold, President & CEO
Target 3 Communications:
Jerry Cahn, Ph.D., J.D., President
|SOURCE SPO Medical equipment Inc|
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