DRAPER, Utah, July 28, 2016 /PRNewswire/ -- Flexpoint Sensor Systems, Inc. (FLXT) is pleased to announce that Q3 2016 is progressing as planned relative to order placement and fulfillment of mass production of a line of children's toys featuring its unique Bend Sensor®. Working with an American-based, Fortune 500, global toy manufacturing company and its global assembly partner, Flexpoint is focused on continuing to fulfill this production volume requirement. First year annualized volume is expected to be in excess of 750,000 sensors.
According to the Toy Company's forecasts, the usage of Flexpoint's sensors in its products during 2017 is expected to more than double the 2016 annualized volume. This is as a direct result of expansion to other models of the toys.
According to Paul Sexauer, Flexpoint Vice President of Sales and Marketing, "We expect to continue to fulfill and deliver large quantities of sensors on a regular basis for this customer. We are pleased to see our order volume expectations are being realized, and equally important, we are fulfilling our customer requirements from both a quality perspective as well as an on-time perspective."
As flexible sensors become an integral part of overall toy production, it is anticipated that Flexpoint will play a key role in this growth. Sexauer further commented, "Flexpoint is keenly focused on and actively developing this market segment. It is a segment within which we can clearly differentiate ourselves and deliver tremendous value to our customers. We will continue to customize solutions that should become essential for future generations of products in the toy industry."
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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SOURCE Flexpoint Sensor Systems, Inc.