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SPO Reports Results for First Quarter 2013
Date:5/13/2013

NEW YORK, May 13, 2013 /PRNewswire/ --

SPO Medical Inc. (SPOM), a leading developer of biosensor and microprocessor technologies for use in portable monitoring devices, announced today financial results for the fiscal quarter ended March 31, 2013.

Total revenue for Q1-2013 was $149,000 compared to no revenues for the same period in 2012. In addition the Company has a current backlog of approximately $347,000 of purchase orders which it plans to deliver in the coming quarters. The increase in revenue was attributed to the continued success of the Company's partnership with HoMedics LLC for distribution of its private-labeled pulse oximeter known as the HoMedics Deluxe Pulse Oximeter.

In addition, the Company announced that it has secured working capital requirements via an equity investment in the Company that will provide funds for its business activities during 2013. With increased quarterly sales and the planned introduction of new wellness products, the Company believes it can now move forward to further expand its strategy in the consumer wellness market.

Michael Braunold, Chief Executive Officer of SPO commented: "We continue to build strength through our increased quarterly revenues and now via an equity investment into the Company. In addition we see further growth of sales with our distribution partner HoMedics LLC including expanded placement of the HoMedics Deluxe Pulse Oximeter within the US and Internationally. We look forward to capitalizing on these revenue opportunities throughout the rest of fiscal 2013."

SPO continues to work on other product opportunities and specifically on its wellness watch. Initial responses from retail category buyers to this new product opportunity have been positive and the Company is now focused on working with its timepiece manufacturing and distribution partner to realize this retail opportunity during fiscal 20
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SOURCE SPO Medical Inc.
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