Flexpoint Sensor Systems, Inc. Reports Earnings Results for the Second Quarter Ended June 30, 2020
August 14, 2020 at 04:21 pm EDT
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Flexpoint Sensor Systems, Inc. announced earnings results for the second quarter ended June 30, 2020. For the second quarter, the company announced sales was USD 42,195 compared to USD 572,446 a year ago. Operating loss was USD 139,826 compared to operating Income of USD 351,889 a year ago. Net loss was USD 178,943 compared to net income of USD 107,485 a year ago. For the half year, sales was USD 81,298 compared to USD 637,041 a year ago. Operating loss was USD 356,082 compared to operating Income of USD 195,791 a year ago. Net loss was USD 433,606 compared to USD 159,337 a year ago.
Flexpoint Sensor Systems, Inc. is principally engaged in designing, engineering and manufacturing bend sensor technology and products using its patented Bend Sensor technology. The Bend Sensor is a flexible potentiometer; the bend sensor consists of a coated substrate, such as plastic, that changes electrical conductivity as it is bent in a consistent manner. The electronic systems connect to this sensor and measure in detail the amount of bending or movement that occurs in a predictable manner. It has developed various applications and devices using the Bend Sensor technology and is marketing these items: glove systems, automotive products, flow control applications, monitoring systems, swell sensor and other applications. These glove systems, combined with edge software applications, also adapt to a range of other applications, including health rehabilitation, unmanned systems control, smartphone interaction and professional training across multiple industries.