Repeat Orders From Industrial Parts Manufacturer Help Drive Overall Revenue Growth for Flexpoint Sensor Systems, Inc.
"DRAPER, Utah, Aug. 4, 2016 /PRNewswire/ -- Flexpoint Sensor Systems, Inc. (FLXT) is pleased to announce it has recently received Purchase Orders (PO) from a long standing, repeat customer; a specialty manufacturer in the Industrial products market. The customer and Flexpoint entered into a NDA early on in the relationship, which was established nearly five (5) years ago, to protect competitive differentiation of their Industrial products. These are market leading products which rely heavily on the quality and high performance of the Bend Sensor®.
The product technologies they produce are critical path pipeline solutions that deliver great value to end users in the oil & gas industry. The company contracted with Flexpoint to design and manufacture different models of "custom" sensors for their respective products. Since that initial order, they have placed PO's with Flexpoint almost quarterly for the delivery of these unique sensors. They have purchased approximately 1,000 customized sensors from Flexpoint this year.
This company is well known as a producer of high quality products in the markets they serve. They have expressed interest in expanding the use of the Bend Sensor® in new products they are developing. Paul Sexauer, Flexpoint's Vice President of Sales and Marketing stated, "Flexpoint expects this to remain a sustained relationship, and one that will continue to grow."
Commenting on the relationship, Mr. Sexauer further added "We place great value on these types of relationships and they are the types of customer relationships that we strive to establish and nurture. Relationships which, in aggregate, enable us to have sustainable revenue streams now and well into the future. We are rapidly developing these same relationship types across our various other market segments as well. Flexpoint remains on track to continue to expand its customer base and revenues each quarter"
