Oncologix Tech, Inc. Announces 1st Quarter Fiscal 2015 Financial Results Showing, New Business, Solid Revenue Growth And Continued Financial Improvements

LAFAYETTE, LA--(Marketwired - January 16, 2015) - Oncologix Tech Inc. (OTC PINK: OCLG), a fully reporting, diversified medical holding company with operating divisions in medical devices, healthcare services and durable medical product sales and distribution announced financial results for its first quarter of fiscal 2015 ending November 30, 2014.

Financial Highlights over the past 12 months

  • Revenues for the first quarter 2015 were $1,161,874, up 60.3% from $724,632 for the comparable period in fiscal 2014.
  • Gross margins for the first quarter fiscal 2015 were $300,843, up 30.7% from $230,077 for the comparable period in fiscal 2014.
  • General and administrative expenses for the first quarter fiscal 2015 were $454,323, up from $277,360 in fiscal 2014. This was due primarily to general and administrative expenses from our acquisition of Esteemcare.
  • During the past twelve months, we have repaid over $1,515,000 of company debt and financing agreements.
  • Cash provided by financing activities was $817,600 for the first quarter fiscal 2015, up from $86,586 for the comparable period in fiscal 2014.

 Forecast Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 -------- --------- -------- --------- ---------- ---------- Revenues $724,632 $ 983,758 $988,385 $ 974,575 $1,161,974 $1,309,842 Cost of revenues 494,555 748,596 788,757 816,277 861,031 899,665 -------- --------- -------- --------- ---------- ---------- Gross profit 230,077 235,162 199,628 158,298 300,943 410,177 Gross profit % 31.75% 23.90% 20.20% 16.24% 25.90% 31.31% Operating expenses: General and administrative 277,360 482,383 276,950 310,098 454,323 383,029 Research and development expense - - - 30,000 10,000 10,000 Depreciation and amortization 5,452 6,040 5,664 5,664 4,645 4,645 -------- --------- -------- --------- ---------- ---------- Total operating expenses 282,812 488,423 282,614 345,762 468,968 397,674 -------- --------- -------- --------- ---------- ---------- Loss before interest and taxes (52,735) (253,261) (82,986) (187,464) (168,025) 12,503 ======== ========= ======== ========= ========== ========== Gen and Admin. As % of Sales 38.28% 49.03% 28.02% 31.82% 39.10% 29.24% 

Wayne Erwin, CEO of Oncologix, stated, “We are pleased to announce highlights of our first quarter fiscal 2015.” Erwin also commented, “We continue to execute our strategy to focuses on strategic acquisitions and debt reduction, both of which significantly increase Oncologix’s market value.”

Key Company Activities over the past 12 Months

  • Acquisition of Esteemcare Inc. effective September 2014 - $1.7 million in annual revenues
    • Obtained 10 new physician referral sources for annual projected revenues of $140,000.00
    • Revamped staffing and consolidated positional responsibilities to position the company for expansion in to new markets.
    • Expanded respiratory therapy services into3 new markets
  • Acquired Amian Health Services December 2013 - $1.1 million in annual revenues
  • Continued reduction in non-essential FTE employees.
  • Continuing with final product redesign for Dotolo Research Toxygen-II hardware system and new disposable speculum products
  • Executed a $4.0 million line of credit facility with TCA Global Fund
  • Repaid $107,500 of convertible debt between October through December 2014 from operating capital preventing approximately 40 million shares from being sold into the market.

Erwin also noted, “We are on track to close on a potential acquisition within the next 45 days with an additional durable medical equipment company with annual revenues of approximately $9.8 million generating over $2.2 million in positive EBITDA. With our continued acquisition and growth strategy, we strive to grow our annualized revenues to $35 million by year-end 2015 with positive EBITDA exceeding $3.6 million. Our stock price does not accurately reflect the success of our operating activities and remains severely undervalued. With our continued execution on our acquisition and growth plan, we are confident that our stock value will rise in the coming year to its true fair market values.”

About Oncologix Tech
Oncologix is a fully reporting, diversified medical holding company that operates and manufactures Class II medical device products, delivers Personal Healthcare Services, and Home Medical and Durable Medical products nationally. For its clients, Oncologix provides FDA approved medical devices, state licensed healthcare services and medical product distribution. For its shareholders, Oncologix operates profitable operating divisions that build, maintain and nourish shareholder value. The Company’s corporate mission is to be the best small cap healthcare services holding company in North America.

This press release may contain forward-looking statements, made in reliance upon Section 21D of the Exchange Act of 1934, which involve known and unknown risks, uncertainties or other factors that could cause actual results to differ materially from the results, performance, or expectations implied by these forward-looking statements. The Company’s expectations, among other things, are dependent upon economic conditions, continued demand for its products, the availability of raw materials, retention of its key management and operating personnel, its ability to operate its subsidiary companies effectively, need for and availability of more capital as well as other uncontrollable or unknown factors which are more fully disclosed in the Company’s filings with the Securities and Exchange Commission.


CONTACT INFORMATION
Wayne Erwin
Chairman and CEO
Email Contact
(318) 451-9543

INVESTOR RELATIONS
Green Arrow Consulting LLC
(850) 733-9181

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