This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Hotel Outsource Management International, Inc. Presents Full Year 2010 Results

Hotel Outsource Management International, Inc. (“ HOMI”) (OTCBB: HOUM) presented its consolidated financial results for the year ended December 31, 2010.

Mr. Daniel Cohen, HOMI’s President, stated: "In 2010 we continued to execute our strategic plan. We showed a slight improvement in gross margin, as the minibars we installed during 2009 and 2010 now function effectively, increasing their revenue potential. During the year we also took measures to cut our operating expenses.

"During 2010, we sold two subsidiaries in Germany and Italy, as we have continued to streamline our focus on specific countries in Europe, the USA and Israel. For the same reason we have ceased operating minibars in Australia. We enter 2011 with a positive momentum of aggressive marketing efforts, proving itself in a meaningful deal flow of new contracts for installation of our minibar systems in our target geographies. We also intend to install in most of the existing hotels where we operate, as well is in new hotels, our latest development, the EDS, a computerized Electronic Dry Section for dry goods and large Mineral Water (non-refrigerated) – which proved itself in a pilot conducted in three hotels as a significant revenue growth-engine.

"Going forward, we believe that the financing agreement we signed in October with Tomwood Limited for US $2 million will enable us to continue our growth plan.”

Full Year 2010 results :

Revenues for the year ended December 31, 2010 reached US$3,201,000, compared to US$3,651,000 in the year ended December 2009. The decrease in revenues is mainly due to the sale of two of HOMI's subsidiaries in Europe: HOMI - Hotel Outsource Management International (Deutschland) GmbH and HOMI Italia S.R.L on April 2010 and due to the fact that HOMI Australia ceased operating the minibars in Hilton Sydney, the only hotel with which HOMI conducted outsource operations in Australia, and transferred the operation and the minibars installed to that hotel.

For the year ended December 31, 2010, HOMI's three largest customers accounted for 30% of the total revenues, as compared to 25.6% in 2009.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs