DRAPER, Utah, Aug. 4, 2016 /PRNewswire/ -- Flexpoint Sensor Systems, Inc. (FLXT) is pleased to announce it has recently received Purchase Orders (PO) from a long standing, repeat customer; a specialty manufacturer in the Industrial products market. The customer and Flexpoint entered into a NDA early on in the relationship, which was established nearly five (5) years ago, to protect competitive differentiation of their Industrial products. These are market leading products which rely heavily on the quality and high performance of the Bend Sensor®.
The product technologies they produce are critical path pipeline solutions that deliver great value to end users in the oil & gas industry. The company contracted with Flexpoint to design and manufacture different models of "custom" sensors for their respective products. Since that initial order, they have placed PO's with Flexpoint almost quarterly for the delivery of these unique sensors. They have purchased approximately 1,000 customized sensors from Flexpoint this year.
This company is well known as a producer of high quality products in the markets they serve. They have expressed interest in expanding the use of the Bend Sensor® in new products they are developing. Paul Sexauer, Flexpoint's Vice President of Sales and Marketing stated, "Flexpoint expects this to remain a sustained relationship, and one that will continue to grow."
Commenting on the relationship, Mr. Sexauer further added "We place great value on these types of relationships and they are the types of customer relationships that we strive to establish and nurture. Relationships which, in aggregate, enable us to have sustainable revenue streams now and well into the future. We are rapidly developing these same relationship types across our various other market segments as well. Flexpoint remains on track to continue to expand its customer base and revenues each quarter"
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
Brokers and Analysts
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SOURCE Flexpoint Sensor Systems, Inc.