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 Q2 2012 Results

Hotel Outsource Management International, Inc. (“ HOMI”) (OTC: HOUM), 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, today presented its consolidated financial results for the second quarter ended June 30, 2012.

Mr. Daniel Cohen, HOMI’s President, stated: "We have successfully completed the development of our new HOMI ® 226 minibar and are starting production in September. We expect to start installing the HOMI ® 226 during October 2012.

"This quarter, we continued reducing expenses. The General and Administrative and Marketing Expenses were reduced by 18.4% compared to the second quarter of 2011.

"In July 2012, we announced an agreement with Tomwood Limited for the conversion of its entire US$2 million loan to HOMI into a total of 110,497,238 shares of HOMI common stock, at a conversion price per share of US$.0181. The value of the costed benefit component of this transaction in the amount of approximately US$1.3 million was charged to capital and offset against financing expenses but did not affect cash and balance sheet. We are very pleased with Tomwood becoming a major shareholder. Apart from this being a vote of confidence in HOMI's vision and business strategy, we expect a fruitful cooperation with Tomwood in the execution of our mid-term business plans, including improvement of our balance sheet and reducing our debt."

Second quarter 2012 results :

Revenues for the second quarter of 2012 reached US$870,000, similar to US$863,000 in the second quarter of 2011. These revenues arose primarily from the sale of refreshments in the minibars.

For the three months ended June 30, 2012, HOMI's three largest customers accounted for approximately 28.8% of the total revenues, compared to 29.4% in the same period of 2011.

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
AAPL $92.72 -0.56%
FB $119.49 1.43%
GOOG $711.12 1.38%
TSLA $214.93 1.61%
YHOO $37.23 0.79%


Chart of I:DJI
DOW 17,740.63 +79.92 0.45%
S&P 500 2,057.14 +6.51 0.32%
NASDAQ 4,736.1550 +19.0610 0.40%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs