WOODLAND HILLS, Calif., Nov. 28 /PRNewswire-FirstCall/ -- SPO Medical Inc. (SPOM.PK), a leading developer of biosensor and microprocessor technologies for use in portable monitoring devices, reported financial results for the third quarter of 2006.
Revenues for the third quarter of 2006 were $929,000, representing a 93% increase in sales from the third quarter of 2005. The increased revenues reflect increased sales of SPO Medical’s PulseOx 5500(TM) and its non-medical sports version, Check Mate(TM), both spot-check finger pulse oximetry monitors which use Reflective Pulse Oximetry (RPO) to measure oxygen saturation and heart rate. They also reflect the initial sales of the recently launched PulseOx 7500(TM), a compact, wrist-mounted oximetry system that doctors can prescribe to monitor vital signs for patients reporting sleep disorder symptoms, such as sleep apnea.
“I am delighted to report our continued significant sales growth compared to the same quarter last year,” said Michael Braunold, President and Chief Executive Officer of SPO Medical. “I am also pleased that the fourth quarter 2006 started with our success in winning a European government tender for several thousand units for delivery during the fourth quarter. This success, combined with our strategy of increasing sales of our existing products through our global distribution network along with continuing R&D efforts to add products in the future, enables us to continue adding value for shareholders.”
A more detailed description of the financing activity, financial results and financial statements are contained in the quarterly report on Form 10-QSB filed on November 14, 2006 with the SEC.
About SPO Medical
SPO Medical (SPOM.PK) 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 www.spomedical.com.
Safe Harbor:
This document contains forward-looking statements within the meaning of the United States securities laws. Such statements are subject to certain risks and uncertainties which could cause actual results to differ materially from those in the statements included in this press release. Although SPO Medical believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be achieved. Readers are referred the documents filed by SPO Medical with the Securities and Exchange Commission, including the company’s most recent Annual Report on Form 10K-SB and Quarterly Report on Form Q-SB, which identify important risk factors that could cause actual results to differ from those reflected in the forward-looking statements including (without limitation), the Company’s need to raise additional funds, its limited operating history and the limited number of the Company’s products that are currently commercially available. SPO Medical disclaims any intention or obligation to update or revise any forward-looking statements, which speak only as of the date hereof, whether as a result of new information, future events or otherwise.
SPO Medical
CONTACT: Michael Braunold, CEO of SPO Medical, +1-818-888-4380,braunold@spomedical.com; or Jerry Cahn, Ph.D., J.D. of Brilliant Image forSPO Medical, +1-646-827-0009, jerry@brilliantimage.net
Web site: http://www.spomedical.com/
