OXYSURE (OXYS) REPORTS THIRD QUARTER 2014 RESULTS
Ninth Consecutive Quarter of Double Digit Growth with Revenues Up 50%
Frisco, Texas, November 14, 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 third quarter 2014.
3Q 2014 Highlights:
- Revenues, 3 months $818,456, up 50%
- Revenues, 9 months $1,852,796, up 47%
- Trailing 12 months sales $2.4 million
- Gross profit $496,524; Gross Margin 60.7%
- Other income $96,162, up 1,048%
- SG&A $885,983
- Net loss per share $.02 for the quarter
- Short term debt down 25%
Julian T. Ross, Chairman of the Board and Chief Executive Officer of OxySure stated, “We posted yet another strong building quarter. We are on track with our organic growth. In addition, we have taken our first bold step on the inorganic growth front; on October 22, 2014 we announced the signing of definitive agreements for the merger of our company with Estill Medical, creating an emerging medical device leader with strong roots in the emergency medical, resuscitation and trauma space and with $10 million in initial revenues.”
For the quarter ended September 30, 2014, revenues increased by 50% to $818,456 from $545,820 in the third quarter of 2013. The increase was primarily driven by an increase in US product sales and product sales related to military markets.
Shipments of replacement cartridges versus OxySure Model 615 continued to be significant. For the three months ended September 30, 2014, replacement cartridges shipped represented approximately 195% of base units shipped. For the 9 months ended September 30, 2014, replacement cartridges shipped represented 166% of base units shipped.
Gross profit in the third quarter of 2014 was $496,524, up $61,814 or 14% from $434,710 in the third quarter of 2013. Gross margin was 60.7%, well in line with the Company’s historical margin performance. Other income in the third quarter of 2014 was up 1,048% to $96,162 from $8,375 in the third quarter of 2013. These improvements were offset by reinvestments in sales and marketing, which was up 161%; reinvestments in research and development, which was up 16%; and an increase in other general and administrative expense of 98%.
Net loss for the quarter ended September 30, 2014 was $462,349, or $0.02 per share (EBITDA loss was $273,034), as compared to $82,613 or $0.00 per share for the quarter ended September 30, 2013. The weighted average shares outstanding were 26,120,974 and 24,076,789 for the quarters ended September 30, 2014 and 2013, respectively.
OxySure’s CEO Julian Ross will host a conference call to discuss the Company’s third quarter 2014 results.
Date: Friday, November 14, 2014
Time: 9:00 am ET
US Dial-In: 1-888-510-1786 US Toll Free
International Dial-In: 1-719-325-2429 US Toll
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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