Flexpoint Sensor Systems, Inc. (OTCBB: FLXT) http://www.flexpoint.com today announced guidance for Fiscal Year 2011 and beyond. Clark Mower, President of Flexpoint, stated, “We are currently experiencing a significant uptick in interest, and have implemented a substantial number of testing and advanced testing programs over the last several months. Preliminary feedback suggests that the majority of our potential clients are comfortable with the results they are seeing for reliability and functionality. As the demand continues to grow, we expect a number of these to turn into long-term customer contracts. Given the size and scope of the customer base, the company is now in a position to give the market a solid idea of the realistic expectation for growth.” Mower continued, “The company should turn cash flow positive and profitable during the second half of 2011. The company anticipates having a large number of 'booked' orders for which they will continue producing in early 2012 and continuing for many years to come. The company expects to carry a significant backlog in orders into the following year and expects this backlog to continue to grow. For FY2012 the company should execute on these larger production and manufacturing contracts. We expect 2012 revenues to be in the $3-$6 million dollar range, with an end-of-year backlog of $4-$8MM that we expect to yield revenues of at least $6-$10 million dollars in 2013. These numbers are likely conservative. If some of the recent negotiations and beginning testing yield positive results, these numbers could be substantially higher. We are basing these estimates only on products currently on the market or in the final stages of advanced testing. “We appreciate the patience of our shareholders and believe these estimates should help investors better understand the accomplishments we are seeing in the marketplace. The company concentrated on smaller contracts and proving reliability with multiple end users in multiple industries during 2010 and did so effectively. Now that the product has marketplace validation, during 2011 and beyond the company is concentrating on larger renewable contracts in a variety of fields, including but not limited to, automotive, toy and industrial. The growth will be a result of both increasing the number of clients and increasing the size of each client. We are all excited as we begin reaching financial metrics our investors require, and look forward to continuing to grow and communicate more consistently and effectively.”
Forward-Looking StatementsThis 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.