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Revenues for the third quarter of 2007 were $1,408,000, an increase of 51%from the $929,000 reported for the same period in 2006. Revenues for the firstnine months of 2007 were $4,174,000, an increase of 66% from the $2,520,000million recorded in the first nine months of 2006. The increased revenuesreflect increased sales of the PulseOx 5500(TM), Check Mate and the sales fromthe release of the PulseOx 7500(TM) recording device, a new product that wascommercially launched during the second quarter of 2007. The Company has nowsold over 100,000 pulse oximetry units, marking a sales milestone which hasbeen achieved in less than three years since the Company first commerciallylaunched its products.
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"I am pleased to report the 66% sales growth in the nine months endedSeptember 30th, 2007 compared to the corresponding period last year," saidMichael Braunold, President and Chief Executive Officer of SPO Medical. "Inaddition, the Company has made the transition to the Over-The-Counter BulletinBoard (OTCBB) where its shares began to be quoted on October 8, 2007 under theticker symbol SPOM. Our strategy to introduce new product lines, such as thePulseOx 7500(TM) recently brought to the market, will further enhance ourgrowth potential -- a path which we remain committed to".
As announced in an earlier press release, SPO Medical intends todemonstrate two new professional oximetry devices later this year for thehospital and physician markets. These new products will be first shown duringmid-November at the annual Medica Exposition in Dusseldorf, Germany which isthe world's largest medical international trade fair for supplies of medicaldevices; this will be followed by the American Association for RespiratoryCare (AARC) International Respiratory Congress in Florida in early December.
A more detailed description of the financing activity, financial resultsand financial statements are contained in the quarterly report on Form 10-QSBrecently filed with the SEC on November 5, 2007.
About SPO Medical:
SPO Medical (SPOM) a leading developer of biosensor and microprocessortechnologies for use in portable monitoring devices to capture life-saving andlife-enhancing information within four key markets: medical care; home andremote-care; sports and wellness; and safety and security. Its patentedtechnology uses information gathered from the reflectance of light on thehuman blood stream, in a non-invasive manner, to monitor key vital signs. TheCompany distributes its products through a network of distributors and alsolicenses its technologies to appropriate client corporations forcommercialization and distribution. For more information, visitwww.spomedical.com.
Safe Harbor:
This press release contains forward-looking statements that involvesubstantial uncertainties and risks. These forward-looking statements arebased upon our current expectations, estimates and projections about ourbusiness and our industry, and that reflect our beliefs and assumptions basedupon information available to us at the date of this release. We cautionreaders that forward-looking statements are predictions based on our currentexpectations about future events. These forward-looking statements are notguarantees of future performance and are subject to risks, uncertainties andassumptions that are difficult to predict. Our actual results, performance orachievements could differ materially from those expressed or implied by theforward-looking statements as a result of a number of factors, including butnot limited to, changes in economic conditions generally and the medicaldevices market specifically, changes in technology, legisla
