LYMAN, S.C., April 4, 2011 /PRNewswire/ -- Southern Home Medical Equipment, Inc. (PINKSHEETS: SHOM), a Holding Company providing healthcare services, healthcare professionals and equipment to medical institutions, announced today that the unaudited results from operations for fiscal year 2010 reflects a 6.6% increase in revenues with profitability over previous 2009 year-end.
Southern Home Medical recorded revenues for 2010 of $809,884 with a net income of $1,820. During the year the Company continued to retire debt and clean up its balance sheet. Southern Home reports that its debt has been significantly reduced by approximately $160,000. The reduced debt is the result of consolidation and operational improvements as well as leases for equipment being paid off. These steps coincide with the Company’s focus on streamlining operations.
“I am pleased with these results from several perspectives,” stated Jeff Sarvis, President and CEO. “The results are another step toward our goal of completing the required audits and achieving fully reporting status. All of this contributes to our ability to grow the company in the future,” noted Sarvis.
About Southern Home Medical Equipment, Inc.
Southern Home Medical Equipment, Inc. is a Holding Company with a focus on servicing the needs of the Healthcare Industry. The Company has quality health care professionals to support hospitals, rehab centers, nursing homes and other medical facilities providing RNs, LPNs, CNAs, RTs, Billing Specialists, Customer Service Specialists, Delivery Techs and Marketing Reps. With contractual agreements with partner businesses in Charleston, Columbia, Greenville, Florence and Lake Hartwell, 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 with health, medical and equipment needs.
Forward Looking Statement
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.
SOURCE Southern Home Medical Equipment, Inc.
