Vancouver, British Columbia--(Newsfile Corp. - April 1, 2015) - OxySure Systems (OTCQB: OXYS) released results for the three and twelve month periods ended December 31, 2014. Revenues for the full year 2014 were $2.4 million, an increase of 35% over the $1.8 million reported in 2013, with the company recording the 10th consecutive quarter of sales growth.
InvestmentPitch.com has produced a "video news alert" which provides a brief overview of the company. If this link is not enabled, please visit www.InvestmentPitch.com and enter "OxySure" in the search box.
If you cannot view the video above, please visit:
http://www.investmentpitch.com/video/0_saj1ooex/OxySure-Systems-OTCQB-OXYS-released-results-for-the-3-and-12-month-periods-ended-December-31-2014
The increase was primarily driven by an 83% surge in revenues in the United States, which resulted from an increase in sales from products to the military in connection with a teaming agreement.
Gross profit was $1 million a decrease of 15.7% primarily due to the effect of an accounting change in the treatment of rent and labor costs.
OxySure Systems is a medical technology company that focuses on the design, manufacture and distribution of specialty respiratory and medical solutions, having pioneered a safe and easy to use solution to produce medically pure 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.
Shipments of the Model 615 increased by 18% in 2014, whereas shipments of replacement cartridges increased by 35%.
Julian Ross, OxySure's Chairman & CEO, stated: "We are now remarkably well-positioned as an emerging medical device leader to achieve our goals for 2015 and beyond. These goals include rapidly growing our direct sales force, expanding overseas, launching a direct to consumer campaign, uplisting our company to NYSE or Nasdaq, and making strategic acquisitions."
The company reported several highlights from 2014, such as receiving the CE Mark Approval for its Model 615 device, a critical step toward launching the product line into the 30 countries belonging to the European Economic Area. The company expanded its international distribution footprint by adding new distributors in Singapore and Saudia Arabia. OxySure also secured Cliff Meidl, two-time Olympian and Team USA Olympic Flag Bearer as a spokesman and Special Advisor exclusively to the company.
Following the release of the year end revenues, Zacks Small Cap Research reiterated its buy recommendation, with analyst Jason Napodano giving the company a target price of $1.75, a premium of 127% to the current $0.77 price.
Napodano stated: "We think OxySure can eventually get total revenues at the $10 million mark through a combination of organic growth and M & A activities. The current market capitalization is only $22 million, meaning OxySure is trading at roughly 6x our projected 2015 revenues."
For more information, please visit the company's website www.oxysure.com.
In Canada, investor relations is handled by Bettina Filippone of Remark Financial Communications (bfilippone@renmarkfinancial.com) and in the US, please contact Jon Cunningham at Redchip Companies (jon@redchip.com).
About InvestmentPitch
InvestmentPitch.com, a multimedia company that provides a combined solution for creating and hosting financial video content, and distributing it across multiple platforms to investors and financial professionals, specializes in producing short three minute videos based on significant news releases and research reports.
CONTACT:
InvestmentPitch.com
Barry Morgan, CFO
bmorgan@investmentpitch.com
