LYMAN, S.C., Oct. 13, 2011 /PRNewswire/ -- 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 stronger third quarter revenue results than anticipated
indicating a continued healthy outlook for the Company.
For the third quarter ending September
30th, 2011, corporate revenues were $289,869, a 27.5% increase of $227,151 over reported revenues in third quarter
of 2010. Net income was a loss of $542.00 with consideration of $74,312.00 in professional fees to Scott &
Company for the PCAOB audit thus far. Without these fees, our
net income results would have reported a positive $73,770 for the quarter, a 65.0% increase
compared to the net income of $44,600
for the same quarter in 2010.
"We are pleased with our progress into the last half of 2011,
but we have made the decision to suspend the potential
acquisition/merger. It simply is not in the best interest of SHOM
at this time. We will continue to evaluate this position through
the remainder of 2011," said President and CEO of Southern Home
Medical, Jeff Sarvis.
"Our share structure remains unchanged from last quarter as
reflected with OTC Market quarterly updates .We anticipate
progressing towards a monthly shareholder update that will be
posted to our SHOM website on or prior to the 15th of each month.
Scott and Company, our auditors, continues toward completion of the
PCAOB audit. Scott & Company is a great company, and they have
our complete respect," added 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 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:
RN's, LPN's, CNA's, RT's, 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; Atlanta, 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
www.encoremedicalstaffing.com
www.apnearx.net.
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.
Contact:
Henry Harrison
IR Pro 2.0
407-682-2001
SOURCE Southern Home Medical Equipment, Inc.
