Hotel Outsource Management Loss Widens In Q2

8/21/2012 6:58 AM ET

Hotel Outsource Management International, Inc(HOUM), a minibars and luxury hotels operator, Tuesday reported wider net loss for its second quarter compared with the same year-ago quarter, reflecting narrower margin.

For the quarter, net loss widened to $1.68 million from $427 thousand last year.

However, total revenues in the second quarter edged up to $870 thousand from $863 thousand last year, while operating loss was reduced to $289 thousand from $326 thousand last year. Gross margin was down at 12.4 percent compared to 17.4 percent last year. The company noted that the margins were dented by the additional costs for the 232 minibars and related computerized trays.

Monday, Hotel Outsource closed at $0.03 on the OTC market.

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by RTT Staff Writer

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