DRAPER, Utah, March 7, 2012 /PRNewswire/ -- Flexpoint Sensor Systems, Inc. (OTCBB: FLXT), http://www.flexpoint.com, today announced they continue to receive recurring orders for their sensors with several additional companies expressing interest in the sensors. Based on purchase orders currently delivered or anticipated to be delivered during the next 90 days, sales for Q1 and Q2 should equal or exceed sales for all of 2011. With the anticipated ramp up of revenues during the second part of the year, Flexpoint should transform into the multimillion dollar company everyone has anticipated.
Clark Mower, President of Flexpoint stated, "We are gratified with the acceptance of the sensors in a wide variety of applications. We now can point to 16 commercial applications of our patented Bend Sensor® technology in a number of different industries. Flexpoint firmly believes that this validates the competitiveness of the product and Flexpoint's ability to produce and deliver these sensors. We are experiencing many recurring orders for an increasing number of sensors and several of these applications have the potential to rapidly grow. Sensors are now being applied in commercial operations including flow monitoring, burst detection, automobiles, trucks, buses, emergency vehicles, taxi cabs, public transportation and in other domestic and commercial applications. Based on initial response and orders to date, Flexpoint remains confident that it will hit its revenue goals of $2-$3 million for 2012 with a backlog of similar size to be delivered during the first half of 2013."
Flexpoint Sensor Systems (FLXT) is a leading supplier of thin film sensing technology to many industries, including automotive, medical, industrial controls, and consumer products. Flexpoint manufactures a patented new flexible sensor that has also proven to be an extremely durable switch. The single layer Bend Sensor product allows for the measurement of mechanical movement, air flow, water flow, or even vibration. In addition, it has been tested to over 35 million cycles without failure. It can be used as a range of motion sensor, or as a very durable, very reliable switch in most harsh environments. The breadth of applications for our sensor is limited only by one's imagination.
- About the Bend Sensor: www.flexpoint.com/companyInfo/bendSensor.htm
- Brochure: www.flexpoint.com/technicalDataSheets/FlexpointBrochure1.pdf
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, 801-568-5111
Brokers and Analysts:
SOURCE Flexpoint Sensor Systems, Inc.