This Day On The Street
Continue to site
ADVERTISEMENT
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 Q1 2012 Results

Hotel Outsource Management International, Inc. (“ HOMI”) (OTCBB: HOUM) presented its consolidated financial results for the first quarter ended March 31, 2012.

Mr. Daniel Cohen, HOMI’s President, stated: "In the first quarter of 2012 we continued to execute our strategic plan, signing agreements with additional hotels and implementing our new business model. Pursuant to this business model, HOMI receives loans from third parties secured by specific minibars, and such minibars continue to be installed, managed and operated by HOMI. In addition, we are finalizing the development of the new HOMI ® 226 minibar, and expect to begin production during June 2012."

"In the first quarter of 2012, Revenues increased by 21%, with Gross Profit improving by 48% compared to the first quarter of 2011. We are continuing our efforts to reduce expenses. The General and Administrative and Marketing Expenses were reduced by 19% compared to the first quarter of 2011. We expect that this trend will continue, with 2012 being a year of significant cost savings across the board."

First quarter 2012 results :

Revenues for the first quarter of 2012 reached US$858,000, compared to US$710,000 in the first quarter of 2011, an increase of 21%. These revenues arose primarily from the sale of products in the minibars, as well as the direct sale of HOMI minibars. The increase in revenues is mainly due to the increased number of minibars operated and sold.

For the three months ended March 31, 2012, HOMI's three largest customers accounted for approximately 22.5% of the total revenues, compared to 30.6% in the same period of 2011.

Gross Profit in the first quarter of 2012, after consideration of depreciation expense, was US$182,000, compared to US$124,000 in the first quarter of 2011, an increase of 48%. Gross profit margin increased from 17.5% in the first quarter of 2011 to 21.2 % in the first quarter of 2012. The improvement in Gross Profit margin is mainly due to an increased number of minibars operated and sold during this period.

Operating Loss in the first quarter of 2012 was US$222,000, compared to an operating loss of US$359,000 in the first quarter of 2011.

The research and development of the HOMI ® 330, was completed in 2009. The research and development of an additional product, the new generation HOMI® 226, began in the first quarter of 2012. Total research and development expenses in the first quarter of 2012 were $34,000. Selling and Marketing expenses decreased to US$62,000 compared to US$94,000 in the first quarter of 2011, primarily as a result of the company's efforts to reduce marketing expenses. General and administrative expenses decreased from US$363,000 to US$309,000, due to cost reduction and ongoing efforts to save on general and administrative expenses.

Net Loss in the first quarter of 2012 was US$317,000, compared to a net loss of US$442,000 in the first quarter of 2011.

Cash and Cash Equivalents as of March 31, 2012 were US$156,000, including deposits, compared to US$345,000 as of December 31, 2011.

Total Shareholders' Equity as of March 31, 2012 was US$832,000, compared to US$1,176,000 as of December 31, 2011.

About HOMI

HOMI is a multi-national service provider in the hospitality industry, supplying a range of services in relation to computerized minibars that are primarily intended for in-room refreshments. HOMI was incorporated under the laws of Delaware in 2000 and is listed on the Over-the-Counter "OTCQB" Exchange, under the symbol "HOUM.PK"

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
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,643.01 -11.76 -0.07%
S&P 500 1,988.87 +1.21 0.06%
NASDAQ 4,828.3250 +15.6170 0.32%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs