ADDISON,Texas, Aug. 13, 2012 /PRNewswire/ -- HASCO Medical, Inc. (OTCBB: HASC), www.HascoMed.com, a Company that conducts sales of handicap accessible vans, parts, service and rental operation in sixteen locations from Maine to Florida and sales of medical equipment and supplies in Alabama, Florida and Mississippi, announced today their second quarter profit and sales results.
HASCO Medical, Inc.'s Q2 profit increased to approximately $202,957 from a loss of $(37,691) last year. That is a significant increase from Q1 which increased to $51,650 this year from a loss of $(155,656) last year. This puts HASCO Medical, Inc. at a total year-to-date profit through June of $254,607 vs. a loss of $(193,398) last year for the same period.
HASCO Medical, Inc. had the same outstanding results on its top line sales volume. Q2 sales increased to $19.7 million this year from $1.9 million last year. That is another impressive increase from Q1 this year which increased to $8,825,230 vs. $484,329 last year. The total top line sales year-to-date through June increased $38.3 million from $2.3 million last year.
“We are beginning to see the synergies and benefits of our growth through the acquisition of Mobility Freedom in May 2011 and Ride-Away in March of this year. We have worked to put in place programs and Team Members to increase accountability and profitability in our operations,” stated Hal Compton, CEO of HASCO Medical, Inc. “I am encouraged by the fact that we were able to see the financial results of these programs so quickly as you can see from our Q1 to Q2 results.”
About HASCO Medical, Inc.
HASCO Medical (“HASC” or the Company) provides products and services that dramatically improve the quality of living for its customers. The Company now consists of Ride-Away, Mobility Freedom, Wheelchair Vans of America and Certified Auto on the Van Conversion/Rental side and Southern Medical and Mobility, Inc. and Certified Medical on the DME side.
This press release may contain forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. In some cases you can identify those so-called “forward looking statements” by words such as “may,” “will,” “should,” “expects,” “plans,” “targets,” “believes,” “anticipates,” “estimates,” “predicts,” “potential,” or “continue” or the negative of those words and other comparable words. These forward looking statements are subject to risks and uncertainties, product tests, commercialization risks, availability of financing and results of financing efforts that could cause actual results to differ materially from historical results or those anticipated. Further information regarding these and other risks is described from time to time in the Company’s filings with the SEC, which are available on its website at: http://www.sec.gov. We assume no obligation to update or alter our forward-looking statements made in this release or in any periodic report filed by us under the Securities Exchange Act of 1934 or any other document, whether as a result of new information, future events or otherwise, except as otherwise required by applicable federal securities laws.
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SOURCE HASCO Medical, Inc.