DRAPER, Utah, Feb. 25, 2016 /PRNewswire/ -- Flexpoint Sensor Systems, Inc. (FLXT) is pleased to announce that 2016 is exceeding expectations and will accelerate the company's growth.
According to Paul Sexauer, Flexpoint Vice President of Sales and Marketing, "We are experiencing continued successful progress with an American-based, Fortune 500, global toy manufacturing company as it rapidly approaches full-scale production on products utilizing the Bend Sensor®. Pre-production tests have been successful, milestones continue to be met, and mass production timelines are on-track for 2016." As previously announced, production of these toys is being done in coordination with a multi-national supply chain solutions company that offers design, manufacturing, distribution and aftermarket services to original equipment manufacturers. Sexauer further commented, "With each milestone, additional purchase orders with progressively increasing dollar volumes are being received. Flexpoint remains on target to significantly increase revenue during 2016."
In the rapidly growing and emerging Wearables space, Flexpoint has also recently received additional purchase orders from multiple glove manufacturers across various market sub-segments including medical, toys, gaming and virtual reality. The "speed to market" commercialization plans of these companies are driving this increased order volume. Flexpoint is aggressively going after this evolving market, and expects this pattern to continue and dramatically increase in 2016. In aggregate, Bend Sensor® 2016 wearables order volumes are expected to number in the tens of thousands for the year. "The wearables market segment is clearly one where our technology is easily adapted and truly illustrates our technological differentiation. Flexpoint's willingness and ability to customize sensors for these innovative companies and deliver them at a competitive price point allows us to deliver real value to our customers," remarked Sexauer.
Please visit http://www.flexpoint.com/ for more information.
About Flexpoint Sensor Systems, Inc.
Flexpoint Sensor Systems, Inc. (FLXT) is an innovative technology firm specializing in developing products that feature the Company's patented Bend Sensor® and related technology. The Bend Sensor® is a groundbreaking sensing solution that is revolutionizing applications in the automotive, safety, medical and industrial industries. The Bend Sensor® single-layer, thin film construction cuts costs and mechanical bulk while introducing a range of functions and stylistic design possibilities that have never before been available in sensing technology. Flexpoint's technology and expertise have been recognized by the world's elite business and academic innovators for over 17 years. The company is setting a new standard for sensing solutions in the "smart" age of technology.
This press release contains certain forward-looking statements. Investors are cautioned that certain statements in this release are "forward-looking statements" and involve both known and unknown risks, uncertainties and other factors. Such uncertainties include, among others, certain risks associated with the operation of the company described above. The Company's actual results could differ materially from expected results.
Flexpoint Sensor Systems
Clark Mower, President
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