PORTOLA VALLEY, Calif., Feb. 10, 2011 /PRNewswire/ -- Spectros Corporation announces that sales and licensing revenue rose 32% (year-over-year) in 2010. This is the third year in a row for double-digit revenue growth for Spectros since the current T-Stat product line was launched in 2008. Spectros released certain 2010 financial results to shareholders today.
"This is a sign of the significant and growing reliance of physicians, patients, and hospitals on state-of-the-art tissue oximetry and spectroscopy devices and disposable sensors," notes CFO John Bagnatori.
"Due to the wide range of applications the T-Stat VLS Tissue Oximetry system may be applied to, it has been important to focus on the markets that perform strongest and will provide the greatest longevity," states Elizabeth van Thillo, director of Marketing. "We are excited at the rate of which sales and marketing efforts are ramping up and showing returns. Overall, we anticipate seeing a strong 2011 with the increasing adoption of tissue oximetry."
Spectros T-Stat® VLS Tissue Oximter and Continuum® Tissue Oximeters are the only broadband tissue oximeters on the market in the U.S. and Europe. T-Stat® and Continuum® compete in the marketplace with INVOS® oximeters marketed by Covidien. An expanded array of sensors, including Continuum® cerebral sensors are currently in testing, pending FDA approval and release anticipated over the next year.
Spectros markets and licenses advanced molecular sensing and imaging devices that shed light on ischemia and cancer. The company's champion product, the T-Stat VLS Tissue Oximeter, is the first medical device FDA-approved as sensitive to ischemia, an insufficient supply of oxygen to tissue. T-Stat is the only commercially available tissue oximeter that utilizes state-of-the-art multispectral visible light spectroscopy (VLS) technology. The non-invasive T-Stat VLS system is used clinically to provide a continuous and real-time absolute value, utilizing 260 wavelengths, over the competing NIRS oximeter product lines that only use 2-4.
Spectros also develops molecular diagnostic tools for breast and prostate cancer, currently in phase I/II clinical trials supported by the National Cancer Institute. Spectros is a venture-supported private concern and markets its products in the U.S. and internationally.
(Note: Forward-looking statements are intended as a guide only, and do not constitute an offer for investment nor a guarantee of future events or returns. Certain Spectros applications described above have not been reviewed and approved by the FDA, and are therefore labeled for investigational use only. T-Stat and Continuum are trademarks of the Spectros Corporation. INVOS is a trademark of Somanetics and Covidien).
For further information, visit www.spectros.com.
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