Southern Home Medical reports 6.6% increase in 2010 revenues

Apr 4 2011

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.