HomeBanc Corp. to Announce First Quarter 2007 Results on May 9, 2007
01 May 2007 - 9:06AM
PR Newswire (US)
ATLANTA, April 30 /PRNewswire-FirstCall/ -- HomeBanc Corp.
(NYSE:HMB) ("HomeBanc" or the "Company") announced today the
Company will report financial results for first quarter 2007 on
Wednesday, May 9, 2007 after the market closes. HomeBanc Corp. will
host a conference call at 9:00 a.m., Eastern time, on May 10, 2007.
The conference call dial-in number is 800-949-8987 in the United
States and Canada and 706-634-0965 from international locations.
The conference call ID number is 5856142. You may also listen to
the conference call under the investor relations section of the
HomeBanc website at http://www.homebanc.com/. PowerPoint slides to
accompany the conference call will be available on the Company's
website under "Investor Relations -- Financial/Statistical
Information" and also on the Company's website under the "Investor
Relations -- Webcast Live" link. The Internet broadcast will be
archived until May 24, 2007. A digital recording of the conference
call will be available for replay two hours after the call's
completion and will be available for replay through May 24, 2007.
To access this recording, dial 800-642-1687 or 706-645-9291 and
enter conference call ID 5856142. An archive version of this
Webcast will be available approximately twenty-four hours after the
conclusion of the live call at mms://winaudio.mshow.com.331207.asf.
The Company is providing the following operating statistics for the
periods indicated: Q1 Q1 % Q4 % $ in billions 2007 2006 Change 2006
Change Total loan originations $1.1 $1.2 -8% $1.2 -8% Loan
applications $1.3 $1.6 -19% $1.3 0% Additionally, the Company is
revising its previously provided guidance for its pre-tax loss
attributable to holders of common stock for the quarter ended March
31, 2007 from $0.20 to $0.24 per share to a loss of $0.30 to $0.34
per share. Kevin D. Race, HomeBanc President and Chief Executive
Officer said, "Although our previously disclosed restructuring
activities are on track to meet our projected results, the impact
of the sub-prime mortgage market meltdown has overflowed into the
prime mortgage market. In particular, gain on sale margins during
the quarter were significantly lower than forecasted, and we are
revising our guidance." HomeBanc is the parent holding company of
HomeBanc Mortgage Corporation, a mortgage banking company that
focuses on originating purchase money residential mortgage loans in
the Southeast United States. HomeBanc is headquartered in Atlanta,
Georgia, and has offices in Georgia, Florida, North Carolina and
Tennessee. For more information about HomeBanc or its mortgage
products, visit HomeBanc on the Internet at
http://www.homebanc.com/. This press release may include
forward-looking statements within the meaning, and subject to the
protection of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. Such forward- looking
statements include statements regarding the Company's revised
guidance pre-tax loss attributable to holders of common stock for
the quarter ended March 31, 2007; and statements regarding the
projected results based on achieving restructuring activities and
the impact of the sub-prime mortgage market affect on the prime
mortgage market and decrease in gain on sale margins for the
quarter. Such forward-looking statements are based on information
presently available to the Company's management and are subject to
any number of risks and uncertainties, including, without
limitation, the risks described in the Company's Annual Report on
Form 10-K for the year ended December 31, 2006 under the headings
"Special Cautionary Notice Regarding Forward Looking Statements"
and "Risk Factors" and the risks described in the Company's other
SEC reports and filings. You should not place undue reliance on
forward-looking statements, since the statements speak only as of
the date that they are made. The Company has no obligation and does
not undertake to publicly update, revise or correct any of the
forward-looking statements after the date of this press release, or
after the respective dates on which such statements otherwise are
made, whether as a result of new information, future events or
otherwise. DATASOURCE: HomeBanc Corp. CONTACT: Investors, Carol
Knies, +1-404-459-7653, , Media, Mark Scott, +1-404-459-7452, ,
both of HomeBanc Corp. Web site: http://www.homebanc.com/
mms://winaudio.mshow.com.331207.asf
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