NEW YORK, November 14, 2013 /PRNewswire/ --
SPO Global Inc. (SPOM), a leading developer of biosensor and
microprocessor technologies for use in portable monitoring devices,
reported financial results for its 2013 third quarter, representing
the three months ended September 30, 2013.
Revenue for third quarter of 2013 totaled $245,000 and for
the fiscal year to-date $494,000
compared to $278,000 in the same nine-month period of 2012.
The increase in revenues during the nine-month period in 2013 was
driven by continued sales of our consumer wellness products and
primarily our private-labeled pulse oximeter known as the HoMedics
Deluxe Pulse Oximeter.
SPO Global has also started to ship its new wellness time-piece
to retailers under the "Live Well by SHARP" brand name. The
wellness watch is designed to measure overall daily activity
levels, especially useful for the estimated 100 million obese
adults & children in the US. This new product has started
to generate interest in markets outside of the US.
Michael Braunold, Chief Executive Officer of SPO Global,
commented: "We are pleased with our progress to date and with our
return to revenue generation during the past four consecutive
fiscal quarters. We continue to try and build on our success to
date by introducing new distribution partners and products to our
existing portfolio and we look forward to capitalizing on
additional revenue opportunities into 2014."
As announced recently, the Company changed its corporate name to
SPO Global Inc. to better reflect the nature of its products and
current business focus. In addition the Company is looking to add
additional products to its portfolio during 2014 to further expand
its offering in the fast-growing consumer wellness market. These
new products include a unique baby-monitor for parental reassurance
when babies are sleeping and a sports watch to continuously measure
heart-rate during exercise without the need of a chest strap.
Further details as to SPO's financial information and results of
operations for the fiscal quarter ended September 30, 2013 are in the Company's Quarterly
Report on Form 10-Q filed with the Securities and Exchange
Commission on November 13, 2013.
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: sports,
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 regarding
the market acceptance of the newly launched wellness watch,
profitability, product performance, size of prospective markets,
revenue assessments and ability to realize revenue opportunities,
marketing strategies, 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