MIAMI, May 12, 2011 (GLOBE NEWSWIRE) -- Southern Trust Securities Holding Corp. ("STSHC") (OTCBB:SOHL), a financial services company offering broker-dealer, investment banking, investment advisory and wealth management services, announced operating results for the year ended December 31, 2010.
For the year ended December 31, 2010 STSHC generated $2,967,547 of revenue compared to $1,328,0998 of revenue for the year ended 2009, representing a 123% increase in revenue. Net income for the year ended 2010 was a loss of $246,219, or $.02 per share compared to a loss of $3,104,395 or $.22 per share for the year ended 2009.
STSHC's CEO Mr. Robert Escobio commented, "We are very happy with our year ended 2010 operating results. The financial markets and most importantly our clients have rebounded from the financial crisis of the past few years. This renewed activity has helped our brokerage business and our Southern Trust Metals business. We plan on capitalizing on this by adding more key personnel to continue our growth objective."
About Southern Trust Securities Holding Corp.
STSHC is a financial services company offering securities brokerage, investment banking, asset management and private wealth management for a growing base of retail and institutional, corporate, and high-net-worth clients primarily in Latin America and Asia. STSHC services include access to international investment opportunities in U.S. and foreign capital markets, offshore entities for financial planning, and cross-border transactions, including private placements, bridge financing and reverse mergers into publicly-traded shell corporations. STSHC operates through its subsidiaries, Southern Trust Securities, Inc. (STS) and Southern Trust Securities Asset Management, Inc. (STSAM), Southern Trust Metals, Inc. (STM) and affiliated Geneva-based International Private Wealth Management S.A. (IPWM). STS is a member of the Securities Investors Protection Corporation (SIPC), National Futures Association (NFA), and Financial Industry Regulatory Authority (FINRA). STS clears trades through, and maintains client accounts with, Pershing LLC, a wholly owned subsidiary of The Bank of New York Mellon Co.
Forward- Looking Statements
This press release may contain statements of a forward-looking nature relating to future events. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. These statements reflect the Corporation's current beliefs, and a number of important factors could cause actual results to differ materially from those expressed in this press release. Except as otherwise required by federal securities laws, the Corporation undertakes no obligation to update or revise these forward-looking statements to reflect new events or uncertainties.