SPO MEDICAL – ANNUAL REPORT FOR 2008
SPO Medical Inc. a firm of reputation in biosensor and microprocessor technologies, made public its Annual Report for the year 2008. The company recorded gross earnings of US$2.8 million, indicating its sales of finger oximeters PulseOx 6000™ and also the hand-held PulseOx 6100™ tools. They were also glad to announce that with the introductions of these two products in the market, they were able to sell more than 160,000 tools in 40 countries worldwide earning them sizeable revenue.
SPO Medical also announced that they were specifically targeting US market with dedicated sales representation. This step was taken mainly to capture the US market, their primary target area. This decision was on account of the global recession which was reflected in their sales too, culminating in a dip in their earnings in 2008. They hoped that with the new strategy in place, they hoped to do well and cover a wider spectrum of market in the US, but it might take them some time to register a profit as they had suffered some setback in the initial stages of their establishment. Being a reputed developer of medical equipments in the field of biosensors and microprocessors, the company has network of distributors and also authorizes certain companies to incorporate its technologies to popularize its products. The company has made certain hopeful predictions on the strength of certain beliefs and assumptions for the current fiscal year and here is wishing the company a good performance in the year 2009 as anticipated.