LYMAN, S.C., April 27, 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 the first quarter of fiscal 2011 record increased revenues totaling $251,026 reflecting an $80,904 increase over the same period last year. The results in earnings for first quarter of 2011 report a positive net income of $9,407 as compared to a loss of $60,130 over the same period last year.
Southern Home Medical reports solid revenue increases in both the ApneaRx and Encore divisions. The Company attributes the positive net income results in part to operating efficiencies in both divisions and consolidation procedures incorporated by management during the latter part of 2010 and first quarter of this year.
The Company is proud to announce that the new offerings, such as the Respi-Care therapy treatment program from ApneaRx, have been well received. Additionally, Encore's franchisees enjoyed significant increases in demand for their nursing services in the first quarter.
"I am pleased with these results from several perspectives," stated Jeff Sarvis, President and CEO. "The revenue growth reflects our emphasis on utilizing our resources to provide solutions that are in high demand throughout the market. The increase in profitability is mostly driven from our previous efforts to streamline operations. These results give us confidence that we are on the right track as we seek to deepen and expand our market presence," 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.