In this PR the company says they'll at least get revenues of $1 Million this year for managing government real estate. Unfortunately $1 Million won't go far and is about what it will cost to finalize the closing of those two unprofitable divisions. IMO, if the Amata deal doesn't go through the company is going to have a tough time staying afloat.
April 1, 2008 - 1:15 PM EDT
Staubach and Horne International Subsidiary Enter Fourth Year of GSA Brokerage Services Contract
Horne International, Inc. (OTCBB:HNIN) today announced that the General Services Administration (GSA) has exercised the third option year extending the contract under which The Staubach Company and Horne Engineering Services, LLC, provide construction management and real estate brokerage services.
The original contract with GSA was awarded in 2005 and included a one-year base period with four one-year option periods. Revenues for Horne Engineering Services over the life of the contract (assuming exercise of all option periods) are estimated at nearly $5 million.
This brokerage services contract provides full life-cycle leasing support to all GSA regions in executing lease transactions for U.S. Government real estate in all 50 states. To date, Horne Engineering’s support team has worked on more than 265 transactions, totaling more than 5 million square feet of rentable space.
About Horne International, Inc.
Horne International provides engineering services for a sustainable infrastructure, with an emphasis on security, energy and the environment. Its wholly owned subsidiary Horne Engineering Services, LLC, provides program engineering, occupational safety and health, environmental sciences, acquisition and procurement, business process engineering, technology integration, and public outreach services to government and commercial customers. For more information, please visit www.horne.com.
About Staubach
The Staubach Company is a global, full-service real estate advisory firm that delivers cost-effective solutions for the users of office, industrial, and retail space. Founded in 1977, the company helped pioneer the concept of exclusive office tenant representation to minimize conflicts of interest and has since expanded services to meet clients' ever-changing requirements. Areas of expertise include site selection, acquisition and disposition, financing, design and construction consulting, and other outsourced services. For more information, visit www.staubach.com.
Forward-Looking Statements
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance and underlying assumptions and other statements, which are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, risks set forth in documents filed by the company from time to time with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by, or on behalf of, the Company, are expressly qualified by these cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
Horne International, Inc.
by
CCG Investor Relations
Mark Collinson, 310-231-8600, ext. 117
ir@horne.com
Source: Business Wire (April 1, 2008 - 1:15 PM EDT)
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