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Strategies & Market Trends : HomeLife: A Global Franchise Real Estate Company (HMLF) -- Ignore unavailable to you. Want to Upgrade?

To: DSPetry who wrote (281)	11/5/1998 9:37:00 AM
From: MoneyBaggs	Read Replies (1) \| Respond to of 383

*NEWS* Thursday November 5, 9:01 am Eastern Time Company Press Release HomeLife Announces First Quarter Earnings NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Nov. 5, 1998--HomeLife Inc. (OTC BB: HMLF - news) Thursday announced its 1999 first quarter financial results. Revenues were $2,055,000 for the quarter versus $318,000 for the same period last year, and $2,001,000 for all of fiscal 1998. Net income was $38,000 for the quarter or $.008 per share, versus a loss of $21,000 or $.004 per share for the same period last year. Andrew Cimerman, president and chief executive officer of HomeLife, stated that the six fold increase in revenue is right on track with the future expansion he envisions for the company. Cimerman is excited about plans to increase the company's mortgage banking operation through its MaxAmerica Financial Services subsidiary. Cimerman added ''We continue to offer more services that provide one stop shopping for our customers.'' As part of this increased emphasis on financial services, HomeLife named Michael Reza to the position of president of MaxAmerica Financial Services. Reza brings 20 years of experience as CEO of a $1 billion mortgage loan origination company. Reza said he envisions new technologies to be the future of mortgage banking. These technologies include video conferencing, where from their office, a client and a real estate agent can speak directly with a loan officer 24 hours a day. Such a video conferencing system will be available within the next 30 days to HomeLife's family of companies including: HomeLife Realty Services, Red Carpet, National Real Estate Service, and Network Real Estate. ''Video conferencing will augment the Internet and the more traditional forms of mortgage banking,'' said Reza. HomeLife also named William Slivka as the company's chief financial officer. Slivka brings 20 years of corporate financial and securities industry experience to the company. Most recently, Slivka was president and CFO of a securities broker/dealer. Slivka said he intends to help with the tremendous expansion he foresees for the company in the areas of investment banking, financial planning and reporting. Incorporated in 1995, HomeLife and its affiliates are full service real estate and mortgage financing service providers. Aggressive growth has allowed the company to become one of the largest real estate organizations in North America with approximately 200 offices with an estimated 3,000 licensed real estate agents. Additional information may be obtained by contacting William Slivka at HomeLife Inc., 4100 Newport Place, Suite 730, Newport Beach, Calif., 92660. Contact: HomeLife Inc., Newport Beach William Slivka, 949/660-1919