SHOM - Conference call AH. April revs +46%, Net Income +176%
For the month of April 2011, consolidated corporate revenues grew 46% and net income was up 176% year-over-year. SHOM reiterated its previously announced guidance calling for total corporate revenues of $1.3 Million in 2011. Additionally, the Company highlighted a number of operational program investments initiated to-date, which include:
Preparing the Company to become a fully reporting entity in the second half of 2011;
Initial certifications and deployments of the innovative Respi-care respiratory therapy program in selected markets;
Launched new websites for Southern Home Medical and its respiratory division, APNEA Rx, both of which are designed to enhance business operations and the companies' market presence;
Development and roll-out of Backstage Solutions, the Company's Web-based healthcare operations platform, to all Southern Home locations;
Added concern reporting, compliance management and resolution Web-based solutions to Backstage Solutions;
Signed letter of intent to merge with a network of medical clinics based in the Washington, DC area.
"After two years of focusing on solidifying all the parts of the Company's operations, our teams have now turned their skills and energy toward putting our programs into action. As a result, we continue to report improved operating efficiencies and revenue growth, as evidenced by our strong profitable results for April," stated President and CEO of Southern Home Medical, Jeff Sarvis. "While we are pleased to have entered this phase of our evolution, we are keenly aware that achieving our goals and opportunities demands additional resources and attention. The achievements to-date in 2011 have positioned us well to meet our objectives for the remainder of the year."
Teleconference
Southern Home Medical will host a conference call today, Thursday, May 26, 2011 at 4:15 pm Eastern Time, to discuss these operational improvements in greater detail. All shareholders, potential investors and interested parties are invited to attend. To participate on the call, please dial 1-719-955-1371 or 1-888-450-5996 (toll-free) and enter code 220185 approximately 5 to 10 minutes prior to the start of the call. Discussion by management will be followed by a Q&A session to address questions submitted by attendees prior to the start of the call via email to info@southernhomemedical.com. A replay of the call will be available the following day on the Company's website at www.southernhomemedical.com.
