OXYSURE (OXYS) REPORTS SECOND QUARTER 2014 RESULTS
Eighth Consecutive Quarter of Double Digit Growth with Revenues Up 42%
Frisco, Texas, August 15, 2014 – OxySure Systems, Inc. (OTCQB: OXYS) (“OxySure,” or the “Company”), a global leader and medical device innovator of life-saving, easy-to-use emergency oxygen solutions with its “oxygen from powder” technology today announced financial and operating results for the second quarter 2014.
2Q 2014 Highlights:
- Revenues up 42% to $678,111
- Gross profit up $89,656 or 27.7% to $413,255
- Other income up 123% to $42,465
- SG&A up 26% to $689,248
- Net loss per share flat at $.01 for the quarter
- Model 615 shipments increased 65%
Julian T. Ross, Chairman of the Board and Chief Executive Officer of OxySure stated, “We are pleased with another great building quarter and our continued sales momentum. Revenue was up 42% year on year and this is our eighth consecutive double digit growth quarter. We plan to accelerate this growth focus while investing in our platform and our future.”
For the quarter ended June 30, 2014, revenues increased by 42% to $678,111 from $476,071 in the second quarter of 2013. The increase was primarily driven by an increase in product sales in the United States.
Shipments of OxySure Model 615 increased 65% year on year. As of June 30, 2014, replacement cartridges shipped represented 39.7% of the known Model 615 installed base, up slightly from 39.1% as at March 31, 2014.
Gross profit in the second quarter of 2014 was up $89,656 or 27.7% to $413,255 from $323,599 in the second quarter of 2013. Gross margin was 61%, well in line with the Company’s historical margin performance. Other income in the second quarter of 2014 was up 123% to $42,465 from $19,026 in the second quarter of 2013. These improvements were offset by an increase in sales and marketing expense of 15%; an increase in research and development expense of 50%; and an increase in other general and administrative expense of 12.4%.
Net loss for the quarter ended June 30, 2014 was $319,508, or $0.01 per share, as compared to $231,937 or $0.01 per share for the quarter ended June 30, 2013. The weighted average shares outstanding were 25,996,642 and 23,167,439 for the quarters ended June 30, 2014 and 2013, respectively.
OxySure’s CEO Julian Ross will host a conference call to discuss the Company’s second quarter 2014 results.
Date: Friday, August 15, 2014
Time: 9:00 am ET
US Dial-In: 1 (800) 697-5978 US Toll Free
International Dial-In: 1 (630) 691-2750 US Toll
Passcode: 8047 352#
For webcast link: http://www.oxysure.com/aed/index.php/investors-home
(under Investor Events)
Please dial in at least 10-minutes before the call to ensure timely participation.
About OxySure Systems, Inc.
OxySure Systems, Inc. (OXYS) is a medical technology company that focuses on the design, manufacture and distribution of specialty respiratory and medical solutions. The company pioneered a safe and easy to use solution to produce medically pure (USP) oxygen from inert powders. The company owns numerous issued patents and patents pending on this technology which makes the provision of emergency oxygen safer, more accessible and easier to use than traditional oxygen provision systems. OxySure's products improve access to emergency oxygen that affects the survival, recovery and safety of individuals in several areas of need: (1) Public and private places and settings where medical emergencies can occur; (2) Individuals at risk for cardiac, respiratory or general medical distress needing immediate help prior to emergency medical care arrival; and (3) Those requiring immediate protection and escape from exposure situations or oxygen-deficient situations in industrial, mining, military, or other "Immediately Dangerous to Life or Health" (IDLH) environments. www.OxySure.com
Statements in this earnings release that are not historical facts are considered to be forward-looking statements. Such statements include, but are not limited to, statements regarding management beliefs and expectations, based upon information available at the time the statements are made, regarding future plans, objectives and performance. All forward-looking statements are subject to risks and uncertainties, many of which are beyond management’s control and actual results and performance may differ significantly from those contained in forward-looking statements. OxySure Systems, Inc. intends any forward-looking statement to be covered by the Litigation Reform Act of 1995 and is including this statement for purposes of said safe harbor provisions. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this news release. OxySure Systems, Inc. undertakes no obligation to update any forward-looking statements to reflect events or circumstances that occur after the date as of which such statements are made. A discussion of certain risks and uncertainties that could cause actual results to differ materially from those contained in forward-looking statements is included in OxySure Systems, Inc.’s Annual Report on Form 10-K for the year ended December 31, 2013.
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