Flexpoint Sensor Systems Inc., a leading supplier of thin-film sensing technology for the automotive, medical, industrial and consumer products industries, today announced its anticipated milestones for this year.
Flexpoint said it anticipates achieving several goals in 2011, including:
• Execution of at least one long-term/multi-year production contract for the automotive industry
• Development of additional products for a major automotive supplier
• Execution of two more major production contracts with Fortune 500 Companies
• Being cash flow positive this year with continued growth in profitability each quarter of 2011
• Ramping up of employees to include the ability to produce the products which they expect to have under contract.
The company also said it expects to continue to produce under several of the agreements announced throughout the past year.
Flexpoint President Clark Mower said the company is in top shape to move forward with current projects and that the momentum could carry operations through a successful 2011.
“We closed last year with significant momentum on several different products. I believe the company is in the best position in its history for development and signing of significant multi-million dollar production contracts. What is particularly exciting is that this momentum has been built on several different products and with many different companies. Last year we focused on building up a number of smaller production contracts to get the Bend Sensor® and Bend Sensor® technology before the public and potential customers,” Mower stated in the press release. “The success of this effort has placed us in a position where our technology has been accepted in many different industries. This validation by multiple companies of the feasibility, reliability and cost effectiveness of our sensors and applications has created a platform where we are now able to pursue the larger contracts. We are now in position to realize the rewards of those efforts.”
For more information visit http://www.flexpoint.com