Home Solutions' Subsidiary PW Stephens Awarded Multimillion Dollar Contract for Florida Operations; Company Sees Significant Res
04 November 2004 - 2:10AM
PR Newswire (US)
Home Solutions' Subsidiary PW Stephens Awarded Multimillion Dollar
Contract for Florida Operations; Company Sees Significant
Restoration Opportunities Created By Hurricane Damage DALLAS, Nov.
3 /PRNewswire-FirstCall/ -- Home Solutions of America, Inc.
(AMEX:HOM), a niche provider of specialty residential services,
announced today that its PW Stephens, Inc. (PWS) subsidiary, a
provider of remedies to homeowners that have fire or water damage,
has been awarded a contract worth over $2 million with a private
condominium owner to make repairs associated with water and mold
damage from Hurricane Francis. In addition, PWS will expand its
presence in Florida by operating jointly at the Company's existing
Fort Myers location, as well as a satellite location in the West
Palm Beach, Florida area. "In response to numerous opportunities,
as a result of the damage from Florida's four hurricanes, we are
creating a permanent presence in Florida in order to have the
necessary resources in place to respond to water and mold damage.
We have a seasoned management team in place as we have combined key
personnel from our California operations, where we have performed
these types of services for over twelve years, with local
management as well as labor to respond to the demand for these
types of services," said Scott Johnson, President of PWS. "We
believe this to be the beginning of a multi-year rebuilding process
associated with damage that was a result of the storms," said Frank
Fradella, Home Solutions' Chairman and CEO. "Our ability to rapidly
integrate our operations in this area should position the Company
to financially benefit from these extensive opportunities. It is
possible that we will see some impact of these projects in our
financial results during the fourth quarter, but clearly during the
2005 fiscal year." 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
organically as well as through very strategic acquisitions. 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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