Oxysure Systems Inc (OTCMKTS:OXYS) Shines During Special Olympics

Oxysure Systems Inc (OTCMKTS:OXYS) reported that its ‘Oxysure Model 615’ received great response during the Special Olympics. The portable emergency oxygen machine was used 18 times during the event. It comes as a great recognition for the company as the Special Olympics was the largest humanitarian and sports event across the world this year.

Oxysure was the official supplier of its portable emergency oxygen devices, oxygen pulse oximeters, AEDs, and other medical emergency devices and services. The company offered its support services to the medical team of the event to meet the medical emergency needs of the 3,000 coaches and 7,000 athletes from 177 nations during nine days of games in Los Angeles.

OxySure continues to move forward and build its operations as a leading medical device platform entity and an emerging pioneer in the emergency medical and resuscitation market. Beating the market expectations, the company posted revenue of $1.046 million in 2Q2015, up 54% YOY. The net loss came at $0.04 a share in 2Q2015 against net loss of $0.05 per share in 1Q2015.

Julian T. Ross, the CEO said that they are delighted with 2Q2015 results as the momentum continues to surge. With stockholder equity up 179%, revenues up 62% and total assets up 110% for the year, the management believe the company is well placed to achieve the set objectives for the remainder of FY2015. These include strengthening the medical device platform, up listing to a national exchange and growing the sales force.

The limelight

K2M Group Holdings Inc (NASDAQ:KTWO), a global medical device entity, reported 2Q2015 results in the first week of August. The total revenues surged 20.2% YOY on a constant currency basis. K2M announced that the domestic revenue jumped 24.7% YOY to $41.4 million while international revenue increased 4.5% YOY to $14.9 million.

Tandem Diabetes Care Inc (NASDAQ:TNDM), a manufacturer firm of t:flex™ and t:slim® Insulin Pumps, reported that 2Q2015 revenue came at $15.7 million compared to revenue of $10.3 million in 2Q2014. The total pump shipments jumped 49% to 3,331 pumps in the reported quarter.

Abbott Michael

Abbott Michael

Michael joined US Markets Daily in 2009 and is a national news reporter focusing on economic issues, data analysis and the financial health of state and local governments.