Southern Home Medical Achieves Seventh Consecutive Month of Profitability and Record Revenues in July
Net Income up 73% on Revenue Growth of 25% Year-Over-Year
(firmenpresse) - LYMAN, SC -- (Marketwire) -- 08/31/11 -- Southern Home Medical Equipment, Inc. (PINKSHEETS: SHOM), a holding company providing healthcare services, staffing and durable medical equipment to medical institutions, announced today that it has achieved its seventh consecutive month of profitability and record revenues in July 2011. Corporate revenues were $116,204 in July 2011, 25% higher than revenues of $93,047 reported in July 2010. Net income was $36,423 in July 2011, 73% higher compared to net income of $21,061 in the same month one year ago.
"Having reported a strong first and second quarter of 2011, we are extremely pleased to continue our progress into the second half of 2011. The month of July 2011 continues our trend of profitability established at year-end December 31, 2010. Our network of companies are focused on streamlining operations and increasing sales without additional, large capital expenditures. We remain optimistic that our positive earnings trend will continue through the remainder of 2011," said President and CEO of Southern Home Medical, Jeff Sarvis.
"While we are exceeding our expectations month-after-month in terms of revenues and net income, our stock price has yet to parallel our outstanding performance. We anticipate this to change, as the 'gathering phase' of the audit is almost over. Scott and Company, our auditor, will soon be assembling the results for public disclosure. Once completed, we can continue to move towards 'fully reporting status' and achieve higher visibility in the financial community," added Sarvis.
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Southern Home Medical Equipment, Inc. is a holding company with a focus on servicing the needs of the U.S. healthcare industry. The Company has quality health care professionals to address national shortages in hospitals, rehab centers, nursing homes and other medical facilities. Personnel are available 24/7/365 and include: RN's, LPN's, CNA's, RT's, billing specialists, customer service specialists, delivery techs and marketing reps. The Company has contractual agreements with partner businesses located in Charleston, Columbia, Greenville, Florence and Lake Hartwell, of South Carolina; Nashville, Tennessee; Baltimore, Maryland; Dunwoody, Georgia; and Philadelphia, Pennsylvania. Southern Home Medical is leveraging the success of these business models to expand sales opportunities in these areas of health, medical, staffing and durable medical equipment needs. For more information, visit .
The statements in the press release that relate to the Company's expectations with regard to the future impact on the Company's results from acquisitions or actions in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements in this document may also contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those contained in such statements. Such risks, uncertainties, and factors include, but are not limited to, future capital needs, changes, and delays in product development plans and schedules, or market acceptance.
Contact:
Henry Harrison
IR Pro 2.0
407-682-2001
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Datum: 31.08.2011 - 12:30 Uhr
Sprache: Deutsch
News-ID 60989
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contact information:
Town:
LYMAN, SC
Kategorie:
Hospitals, Facilities and Providers
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