Market Snapshot
  • U.S.
  • Europe
  • Asia
Ticker Volume Price Price Delta
DJIA 16,424.85 162.29 1.00%
S&P 500 1,862.31 19.33 1.05%
NASDAQ 4,086.22 52.06 1.29%
Ticker Volume Price Price Delta
STOXX 50 3,139.26 47.74 1.54%
FTSE 100 6,584.17 42.56 0.65%
DAX 9,317.82 144.11 1.57%
Ticker Volume Price Price Delta
NIKKEI 14,489.06 71.38 0.50%
TOPIX 1,172.87 6.32 0.54%
HANG SENG 22,696.01 24.75 0.11%

SPO Returns to Revenue Generation



                      SPO Returns to Revenue Generation

Company announces product sales and backlog position

PR Newswire

NEW YORK, April 11, 2013

NEW YORK, April 11, 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 year ended December 31, 2012. During this period the Company
completed development of its new wellness product and commenced sales
activities.

Total revenue for 2012 was $316,000 compared to $20,000 for the same period in
2011. The increase in revenue was the result of the Company's strategy to
enter the non-medical consumer wellness market through its partnership with
HoMedics LLC. In addition, the Company has a backlog of firm orders of
approximately $500,000 for planned shipments through 2013. The Company
anticipates this backlog to increase during fiscal year 2013 as sales continue
to grow in the United States and in international markets. This is primarily
attributed to the expanded distribution of its private-labeled pulse oximeter
known as the HoMedics Deluxe Pulse Oximeter for non-medical consumer wellness
markets.

Further details as to SPO's financial information and results of operations
for the fiscal year ended December 31, 2012 are in the Company's Annual Report
on Form 10-K filed with the Securities and Exchange Commission on April 11,
2013.

Michael Braunold, Chief Executive Officer of SPO commented: "We are very
pleased with our fiscal results for 2012 and backlog position which show a
strategic turnaround for the Company - this was achieved in a relatively short
period of time after our decision to distribute under the HoMedics
private-label which gave us immediate access to mass-market retailers
worldwide. We have also made our first shipment to the international market
outside of the United States and we see further upside during 2013, by
leveraging on our joint-success to date."

During 2013, SPO anticipates expanding other product opportunities currently
under development and specifically its fitness watch - a new consumer wellness
time-piece designed to measure overall daily activity level, especially useful
for overweight and obese adults and children. This new and innovative product,
already demonstrated to several retail category buyers, will include unique
innovative features as well as being a fashionable time-piece to continuously
measure the number of daily activities and calories burned against a
recommended goal.

Braunold continued: "We see substantial opportunities to expand in the
drugstore channel and beyond as we grow our product portfolio during 2013,
particularly as our partner HoMedics looks to increase distribution worldwide
via its extensive network in over 60 countries. We look forward to an exciting
year ahead for the Company as our products enter the vast consumer wellness
market, which in turn contributes to potentially increasing value for the SPO
shareholders."

About SPO

SPO is a leading developer of biosensor and microprocessor technologies for
use in portable monitoring devices to capture life-enhancing information
within four key markets: medical care; sports and wellness; homecare
monitoring and security. Its patented technology uses information gathered
from the reflectance of light on the human body, in a noninvasive manner, to
monitor key vital signs. The company manufactures its products in addition to
licensing its technologies to appropriate client corporations for
commercialization and distribution. For more information, visit
http://www.spoglobal.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, expectations as to  the realization of additional revenues
from the order backlog, expectations as to increasing the order backlog in
2013, the success of efforts to expand distribution of our products, the
success, if any, of our efforts to expand distribution of products to
additional mass market retailers, the ability to create strategic partnerships
to aid in the distribution of products, profitability, market acceptance of
our products and new product applications, timing of new product launches,
success of the Company's rebranding program, product performance, size of
prospective markets, revenue assessments, marketing strategies, success of our
restructured operations and plans, our ability to generate fees or raise
capital to support our business operations and plan, the sufficiency and
availability of working capital, changes in economic conditions generally and
in more specifically, the introduction of competing products, changes in our
operating strategy or development plans patent protection for our products and
technologies, changes in economic conditions generally and in more
specifically, in the markets we operate, changes in technology, legislative or
regulatory changes that affect us and the risks and uncertainties discussed
under the heading "Risk Factors" in Item 1 of our Annual Report on Form 10-K
for the fiscal year ended December 31, 2012. We undertake no obligation to
revise or update any forward-looking statement for any reason.

Contact regarding this release:
   
SPO                
investors@spoglobal.com
+1-866-991-7766

SOURCE SPO Medical Inc.
Sponsored Links
Advertisement
Advertisements
Sponsored Links
Advertisement