YUCAIPA, Calif., April 7, 2011 (GLOBE NEWSWIRE) -- Ingen Technologies, Inc. (Pink Sheets:IGNT), an ISO 13485:2003 certified medical device manufacturer of respiratory medical devices, announced today that the company has filed their third quarter report ending February 28, 2011 on the OTC Markets News and Disclosure Service.
The company reported a sales increase of 221% compared to sales in the quarter ended February 28, 2010. The sales in the current quarter were fueled by the new Ingen Pulse Oximeter. These sales accounted for 83.6% of the current quarter sales. The company received a Department of Veterans Affairs Federal Supply Scheduled Contract Award beginning on April 1, 2011 and ending on March 31, 2016. A Contract Award Letter was received from the VA National Acquisition Center on March 24, 2011. The company was provided a copy of the Federal Supply Schedule Contract V797P-4379b, effective April 1, 2011 through March 31, 2016, for items awarded under 65IIA under the Medical Equipment and Supplies Federal Supply Schedule Solicitation 797-FSS-99-0025-R6.
"We are focused on purchase orders through our new contract award with GSA. We also expect to receive approval with the Defense Acquisition Program Administration to sell our medical technology to military and defense facilities worldwide. The company and its management are looking forward to a successful year," stated Gary Tilden, Chairman and Chief Operations officer.
About Ingen:
The Public Company's wholly owned subsidiary is an established ISO certified medical device manufacturer with an emerging new medical product line for the respiratory market worth an estimated $4 billion in the US, and $8 billion globally. Visit www.ingen-tech.com.
The Ingen Technologies, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=2472
Safe Harbor for Forward-Looking Statements: This news release includes forward-looking statements. While these statements are made to convey to the public the company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. Whereas management believes such representations to be true and accurate based on information and data available to the company at this time, actual results may differ materially from those described. The company's operations and business prospects are always subject to risk and uncertainties. Important factors that may cause actual results to differ are and will be set forth in the company's periodic filings with the U.S. Securities and Exchange Commission.