Ray; [HOM boosted outlook following Hurricanes Katrina and Wilma.
Home Solutions Boosts Full-Year Outlook
Thursday September 29, 10:21 am ET
Home Solutions Raises 2005 Targets on Hurricane-Related Work, Acquires Restoration Company
DALLAS (AP) -- Home remodeler Home Solutions of America Inc. on Thursday boosted its full-year forecast for the second time since mid-August due to a surge in business following Hurricanes Katrina and Rita, sending shares sharply higher in morning trading.
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The company elevated full-year revenue guidance to a $70 million to $75 million range, up from previous estimates of $57 million to $61 million.
Earnings before interest, taxes, depreciation and amortization are now expected to range from $11 million to $12 million, with earnings per share coming in at 23 cents to 25 cents. That compares to an earlier projection for EBITDA of $9 million to $9.9 million and per-share earnings of 18 cents to 20 cents.
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Press Release Source: Home Solutions of America, Inc.
Home Solutions Responds to Hurricane Wilma
Tuesday November 1, 9:00 am ET
Company's Subsidiary Adds 150 to South Florida Workforce to Support Restoration and Rebuilding Process
DALLAS, Nov. 1 /PRNewswire-FirstCall/ -- Home Solutions of America, Inc. (Amex: HOM - News) a niche provider of specialty residential services, announced today that its recently acquired subsidiary Florida Environmental Remediation Services, Inc. (FERS), a Pompano Beach-based provider of disaster clean-up services, has mobilized 150 technicians to participate in the areas stricken by Hurricane Wilma, specifically in parts of the city of Boca Raton. FERS was a significant provider of these services to the Florida area in last year's four hurricanes and is currently participating with Home Solutions Restoration of Louisiana, Inc. (HSR) in the clean-up associated with Hurricanes Katrina and Rita.
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"Our customers, as a result of last year's devastation in Florida, have once again asked that we respond to their initial needs of clean-up in the areas stricken by Hurricane Wilma," said FERS President Fernando Nava. "The reputation we developed for rapid response to last year's hurricanes in the area has made us a preferred provider of restoration services. Unlike last year, as a result of Home Solutions' acquisition of our company, we are now positioned to offer a broader array of services as we participate in this long term re-building process."
"FERS' ability to rapidly respond to their customers needs was a major consideration in our decision to acquire them," said Frank Fradella, Chairman and CEO of Home Solutions. "Through the acquisitions we have made over the last year, the Company is well positioned to participate in both early and later stage recovery activities."
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