Home Solutions' Subsidiary Expects Record Third Quarter Results Due to Strength in Kitchen Products Business
28 September 2004 - 1:17AM
PR Newswire (US)
Home Solutions' Subsidiary Expects Record Third Quarter Results Due
to Strength in Kitchen Products Business DALLAS, Sept. 27
/PRNewswire-FirstCall/ -- Home Solutions of America, Inc.
(AMEX:HOM), a niche provider of specialty residential services,
announced today that its Southern Stone Cabinets division, a 50%
owned subsidiary of Home Solutions, will have record third quarter
revenues as it experiences a significant increase in demand for its
kitchen cabinets in both new and remodeled homes. Backlog continues
to increase as the recovery from hurricane Charlie and Frances
begins. Southern Stone manufactures kitchen cabinets for
distribution to both new homebuilders and remodeling firms. Home
Solutions consolidates the division's results in its Specialty
Interiors Segment. "We are seeing unprecedented demand for our
high-end, custom cabinets in both the new home market and the
remodeling market," said Dave Bacarri, President of Southern Stone.
"The interest, as measured by new business opportunities and
customers, continues to grow daily. As a result, we have begun to
increase our capacity to meet the current demand and to prepare for
what we believe is the beginning of a long-term rebuilding process
in Florida." "While we continue to be saddened by the devastation
caused by the hurricanes, these unfortunate events have created a
structural change in Florida for the services we provide. We
believe that the rebuilding process in this area could lead to
opportunities for many years," said Frank Fradella, Home Solutions'
Chairman and CEO. Home Solutions is a niche provider of specialty
residential services including Restoration Services and Specialty
Interior Services. The Company has operations in the California,
Texas and Florida markets and is rapidly growing its core business
through both an internal and an acquisition strategy. For more
information on Home Solutions, please see our website at
http://www.homcorp.com/ . Statements included in this update that
are not historical in nature are intended to be, and are hereby
identified as, "forward-looking statements" for purposes of the
safe harbor provided by Section 21E of the Securities Exchange Act
of 1934, as amended by Public Law 104-67. Forward-looking
statements may be identified by words including "anticipate,"
"believe," "intends," "estimates," "expect," and similar
expressions. The Company cautions readers that forward-looking
statements including, without limitation, those relating to the
Company's future business prospects are subject to certain risks
and uncertainties that could cause actual results to differ
materially from those indicated in the forward-looking statements,
due to factors such as those relating to economic, governmental,
technological, and other risks and factors identified from time to
time in the Company's reports filed with the SEC. HOME SOLUTIONS OF
AMERICA, INC. CONTACT: Cormac Glynn, CEOcast, Inc. PHONE:
212-732-4300 DATASOURCE: Home Solutions of America, Inc. CONTACT:
Cormac Glynn of CEOcast, Inc., +1-212-732-4300, for Home Solutions
of America, Inc. Web site: http://www.homcorp.com/
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