timeStudio is a great chronometer.
It includes some interesting features:
• selectable precision, up to centisecond;
• real-time conversion of seconds in minutes;
• personalizable role of the buttons;
• start and stop chronometer with a peak sound.
Function available for iPhone (not for iPod):
• start and stop chronometer with the proximity sensor;
• vibration feedback.
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You can also quickly export a recorded time, for example via email.