Business
TOMI Environmental Solutions, Inc. Reports Second Quarter 2021 Financial Results
FREDERICK, Md., Aug. 16, 2021 (GLOBE NEWSWIRE) -- TOMI Environmental Solutions, Inc.® (“TOMI”) (NASDAQ:TOMZ), a global company specializing in disinfection
About this update from Tomi Environmental Solutions, Inc.
[{"type":"text","content":"FREDERICK, Md., Aug. 16, 2021 (GLOBE NEWSWIRE) -- TOMI Environmental Solutions, Inc.® (“TOMI”) (NASDAQ:TOMZ), a global company specializing in disinfection and decontamination utilizing its premier Binary Ionization Technology (BIT) platform through its SteraMist brand of products, today announced its financial results for the second quarter and first six months of 2021. TOMI Chief Executive Officer, Dr. Halden Shane stated, “As we move through 2021, we continue to face sharp comparisons in the context of last year’s results which were driven by extraordinary demand for our products as customers, both existing and new, sought disinfection and decontamination solutions during the height of the COVID-19 pandemic. As COVID-19 concerns have eased, our sales volumes have slowed, particularly in our Hospital-HealthCare, TOMI Service Network, and Commercial divisions, and that slowdown resulted in second quarter revenue performance that was in line with pre-virus levels. However, as the economy continues to open back up, we have seen positive indicators among our current and prospective customers which we expect will drive increased demand in the second half of 2021.” “Specifically, we are seeing renewed interest and activity around our environment and permanent customer engineered systems (CES) in the Life Science market. On the product development front, earlier this month we announced the launch of SteraPak, a backpack system that represents the most mobile SteraMist unit available, designed to create easy maneuverability in the smallest spaces. Providing superior disinfection technology at a lower price point than our competitors, we believe SteraPak will open up new sales channels for our products and ultimately get our technology in the hands of more businesses and consumers. Additionally we have made solid progress with our SteraMist Select Plus and SteraMist Transport CES units and believe we are nearing a release date for these products. “As we move through the balance of 2021, we view this as a rebuilding period. The unprecedented Covid-related demand we experienced in 2020 raised our profile in the marketplace and allowed us to significantly broaden our customer base. We remain focused on meeting the needs of our existing customers and further expanding our customer relationships by continuing to provide our state-of-the-art...