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YUCAIPA, Calif., Oct. 26, 2009 (GLOBE NEWSWIRE) -- Ingen Technologies, Inc. (Pink Sheets:IGNT - News), a leading global Medical Device Manufacturer focused on the $4B Respiratory market with their Oxyview products for the growing aging population and emerging markets for Home (DME), Hospital and Aviation industries announced today that the company has reported an increase in first quarter sales for 2009 as compared to the same quarter in 2008. Gross profits represented 63% gross margins.
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Ingen reported gross sales of $106,483 in the quarter ended August 31, 2009. This represented an increase from sales of $987 in the quarter ended August 31, 2008. The sales were further sparked by the introduction of an "all-in-one" Oxyview Nasal Cannula unit that includes a cannula with the Oxyview flow meter included. Additional capital also enabled the company to increase its advertising and marketing of the Oxyview products. Ingen anticipates that sales of Oxyview will increase from the current quarter's sales as the company expands its sales channels. The total cost of sales was $38,804 in the quarter ended August 31, 2009 and the gross profit was $67,679 (a gross margin of 63.6%).
"We are seeing the initial results of the introduction of our Oxyview Nasal Cannula. There is still hard work ahead of us, and our management is focused on distribution and sales. Our immediate focus being ISO certification and CE Mark requirements that we will complete in late December-2009. Between now and then we are closing distribution for export of our products, and reorganizing our domestic distribution. The home oxygen patients are the bulk of our sales at this time, and this is a good indication that they want and need this product. We expect an increased response for our new Oxyview Nasal Cannula upon its introduction to the annual Chest Physicians meeting at the end of this month, along with Medical and Arab Health conventions in the near future. Targeting these respiratory physicians, management and home oxygen suppliers will increase sales significantly," stated Scott R. Sand, Chief Executive Officer and Chairman of the Board
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