This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Hotel Outsource Management International, Inc. Presents Q2 2012 Results

Stocks in this article: HOUM

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

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs