BUENA PARK, CA--(Marketwire - October 02, 2012) - SOHM, Inc. (PINKSHEETS: SHMN), a generic pharmaceutical manufacturer that produces and markets generic drugs covering all major treatment categories, today announced financial results for the Company's fiscal second quarter 2012, ended June 30, 2012. Revenue in the fiscal Second quarter of 2012 was $273,264 compared to revenue of $215,443 reported in the year ago period. This gives approximately 27% growth over the same quarter last year revenue. As of June 30, 2012 has SOHM achieved total revenue of $649,005 during the year 2012 as against $360,745 during the same period in the year 2011. During 2012 there is a growth of 80% in year to date revenue by the end of second quarter as compared to the same period during 2011. If there was no devaluation of Rupee value against the dollar during the past 12 months, this growth would have been around 108%. The current dollar to rupee rate is around 16% more than the dollar to rupee rate around the end of second quarter of 2011. The net loss for the second quarter was $266,568, as compared to a net loss of $277,530 reported in the same period last year. This increase in revenue and decrease in net loss is the result of SOHM's focus on cost containment, and focus on improving its revenue.
Shailesh Shah, President and CEO of SOHM, Inc., stated, "Internal controls and aggressively looking for new avenues of growth are giving an extra push to the progress that SOHM is looking for." Mr. Shah further stated that "Strategic Alliances, addition of new infrastructure and introduction of new drugs are the focus areas that will help SOHM achieve its growth targets for the 2012 and beyond."
SOHM, Inc. is a generic pharmaceutical manufacturer that produces and markets generic drugs covering all major treatment categories. The Company's global headquarters is located in California, USA, with manufacturing facilities in India. SOHM, Inc. exports generic pharmaceuticals globally, with a focus on distribution in emerging markets in Africa, Latin America, and Southeast Asia. www.sohm.com
Safe Harbor Statement
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of SOHM, Inc., and members of their management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.