-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 VgjwhtF1VFzddCuJ1kJCZre93p0BBqiaRaPlnnzDFJJxCluXQcA0sNJywcDLXNvD
 paZIHgI/CpIvbyGgHSyq6g==

<SEC-DOCUMENT>0001181431-06-066495.txt : 20061130
<SEC-HEADER>0001181431-06-066495.hdr.sgml : 20061130
<ACCEPTANCE-DATETIME>20061130104617
ACCESSION NUMBER:		0001181431-06-066495
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20061130
FILED AS OF DATE:		20061130
DATE AS OF CHANGE:		20061130

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SHARPS COMPLIANCE CORP
		CENTRAL INDEX KEY:			0000898770
		STANDARD INDUSTRIAL CLASSIFICATION:	ORTHOPEDIC, PROSTHETIC & SURGICAL APPLIANCES & SUPPLIES [3842]
		IRS NUMBER:				742657168
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0630

	BUSINESS ADDRESS:	
		STREET 1:		9350 KIRBY DRIVE
		STREET 2:		STE 300
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77054
		BUSINESS PHONE:		713-432-0300

	MAIL ADDRESS:	
		STREET 1:		9350 KIRBY DRIVE
		STREET 2:		STE 300
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77054

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	US MEDICAL SYSTEMS INC
		DATE OF NAME CHANGE:	19970128

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MEDICAL POLYMERS TECHNOLOGIES INC
		DATE OF NAME CHANGE:	19930916

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			HOLMES PARRIS H JR
		CENTRAL INDEX KEY:			0001034135
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-22390
		FILM NUMBER:		061247112

	BUSINESS ADDRESS:	
		STREET 1:		9311 SAN PEDRO
		STREET 2:		SUITE 400
		CITY:			SAN ANTONIO
		STATE:			TX
		ZIP:			78216
		BUSINESS PHONE:		2105256200

	MAIL ADDRESS:	
		STREET 1:		9311 SAN PEDRO SUITE 400
		CITY:			SAN ANTONIO
		STATE:			TX
		ZIP:			78216
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd137800.xml
<DESCRIPTION>OPEN MARKET PURCHASE
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2006-11-30</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000898770</issuerCik>
        <issuerName>SHARPS COMPLIANCE CORP</issuerName>
        <issuerTradingSymbol>SCOM</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001034135</rptOwnerCik>
            <rptOwnerName>HOLMES PARRIS H JR</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>9350 KIRBY DR., SUITE 300</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>HOUSTON</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>77054</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Sharps Compliance Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2006-11-30</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>40000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.98</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1045446</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <ownerSignature>
        <signatureName>Lynn Carnes</signatureName>
        <signatureDate>2006-11-30</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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