Southern Home Medical Achieves Fifth Consecutive Month of Profitability and Record Revenues in May
June 01 2011 - 10:30AM
Marketwired
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 fifth consecutive month of profitability and record
revenues for the month of May 2011. SHOM projects corporate
revenues to exceed $90,000 in May 2011, approximately 32% higher
than revenues of approximately $68,000 reported in May 2010.
Consolidated net income for the month of May 2011 is expected to
exceed $10,000, compared to a net loss of approximately ($10,210)
in the same period one year ago.
"We are extremely pleased at the progress we have made this
year, which continues our trend of profitability established at
year-end December 31, 2010. Our businesses continue to operate as
profit centers and are designed to be replicated nationwide without
additional, large capital expenditures. What this means to
shareholders is our profitability should continue to rise as we
expand our business locations 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 we move
to 'fully reporting status' and achieve higher visibility in the
financial community."
About Southern Home Medical Equipment,
Inc. 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: RNs, LPNs, CNAs, RTs, 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 www.southernhomemedical.com.
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.
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Contact: Henry Harrison IR Pro 2.0 407-682-2001 Email Contact
www.irprpro.com www.healthcarestock.net
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