Oxysure Systems Inc (OTCMKTS:OXYS) announced that it has received a place in top five firms in the 2015 “Fast Tech” list. This list is prepared by TravisWolff and Comerica Bank and is a part of the popular Tech Titans Awards Gala. The company will get to know the final ranking at the Tech Titans Gala scheduled on August 21, 2015.
Fast Tech list will be published in the Dallas Business Journal. In its fifteenth year, the Fast Tech awards are presented to the fastest growing clean technology, media, life sciences and telecommunications firms in Texas. The ranks are assigned on the basis of revenue acceleration from 2012 to 2014. It is vital to mention that Oxysure has reported ten growth quarters in a row.
Oxysure Systems Inc (OTCMKTS:OXYS) posted stellar revenue jump of 54% in 2Q2015. The revenue came at $1.046 million, up from $678,111 in 2Q2014. Gross profit increased 54% to $636,836 against gross profit of $413,255 in the prior year quarter.
The company announced exceptional improvement in its balance sheet. The total cash equivalent jumped 344% to $2.875 million at the end of 2Q2015 from $647,093 at the end of December 31, 2014. As of June 30, 2015 the working capital surplus stood at $2.264 million compared to $418,734 at end of December 31, 2014.
The strong numbers in 2Q2015 boosts the company’s prospects of getting up listed on national stock exchange.
The results hype
The other big name that will release the quarterly report today is Target Corporation (NYSE:TGT). The retailer will announce the result before market hours on Wednesday. Its peer Wal-Mart Stores, Inc. (NYSE:WMT) reported financial numbers yesterday wherein it said that lower margins in the pharmacy segment dragged quarterly profits. It lowered FY2015 earnings forecast in a range of $4.40 per share to $4.70 per share from initial forecast range of $4.70 to $5.05.