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Today's HSOA CEOCast...

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Flatsixer   Sunday, 11/11/07 08:24:11 PM
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Today's HSOA CEOCast...

"Earnings Preview: Home Solutions of America, Inc. (Nasdaq: HSOA), a provider of restoration, construction and interior services to commercial and residential customers, is likely to release results from its third quarter ended September 30, 2007 on or about Wednesday, after taking a five-day extension. Shares have lost more than half of their value since the company released Q2 results, which raised fears that the company was experiencing liquidity issues.

Likely overshadowing the quarterly results is the outcome of meetings the company began last week with FIGA, a state agency that pays claims that bankrupt insurance carriers are unable to satisfy. The company has claims of nearly $50 million from work completed several years ago, and the company said previously that a resolution of the undisputed amounts was likely to come by mid-November. A significant cash settlement could send shares dramatically higher, while continued uncertainty about when and whether HSOA will be paid would do little to alleviate fears of a liquidity crisis.

We are cautiously optimistic that the company will receive a settlement next week. Q3 results could be impacted by constraints on working capital. Shares ended the week at $2.31, down 4 cents."


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