/FIRST AND FINAL ADD -- DAM040 -- Home Solutions of America, Inc. Earnings/
15 Agosto 2005 - 6:37PM
PR Newswire (US)
HOME SOLUTIONS OF AMERICA, INC. CONSOLIDATED BALANCE SHEET (In
Thousands, Except Per Share Data) (Unaudited) June 30, 2005 ASSETS
Current assets: Cash $ 1,901 Accounts receivable, net of allowance
for doubtful accounts of $287 9,501 Note receivable 980 Inventories
2,125 Costs in excess of billings 442 Prepaid expenses and other
current assets 710 Assets held for sale 940 Total current assets
16,599 Property and equipment, net of accumulated depreciation of
$876 2,911 Intangibles, net of accumulated amortization of $634
8,271 Goodwill 24,796 Due from related party 10 Other assets 140 $
52,727 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities:
Accounts payable and accrued expenses $ 6,836 Current portion of
debt 6,589 Current portion of capital lease obligations 85 Billings
in excess of costs 180 Due to related party 265 Notes payable to
related party 750 Total current liabilities 14,705 Long-term
liabilities: Debt, net of current portion 7,526 Minority interest
330 Capital lease obligations, net of current portion 102 Total
liabilities 22,663 Commitments and contingencies Stockholders'
equity: Series A convertible preferred stock, $0.001 par value,
0.08 shares authorized; --- 0.068 shares issued and outstanding
(total liquidation preference of $1,746) Series B convertible
preferred stock, $.001 par value, 0.04 shares authorized, --- 0.04
shares issued and outstanding (total liquidation preference of
$1,036) Common stock, $0.001 par value, 50,000 shares authorized;
20,941 shares issued and outstanding 21 Additional paid-in capital
49,328 Accumulated deficit (19,285) Total stockholders' equity
30,064 $ 52,727 HOME SOLUTIONS OF AMERICA, INC. CONSOLIDATED
STATEMENTS OF INCOME (In Thousands, Except Per Share Amounts)
(Unaudited) Three Months Ended Six Months Ended June 30, June 30,
2005 2004 2005 2004 Net sales $ 16,055 $ 7,415 $ 25,370 $ 14,082
Costs and expenses Cost of sales 9,490 3,875 14,339 7,577 Selling,
general and administrative expenses 4,705 2,587 7,544 5,047 14,195
6,462 21,883 12,624 Operating income 1,860 953 3,487 1,458 Other
income (expense): Gain on sale of assets (1) (4) --- 2 Interest
income 15 1 32 3 Interest expense (447) (244) (794) (428) Other
income 29 12 47 164 Total other income (expense) (404) (235) (715)
(259) Income (loss) before income taxes and minority interest 1,456
718 2,772 1,199 Income taxes (104) --- (206) --- Minority interest
in income of consolidated subsidiary (287) (139) (480) (193) Net
income $ 1,065 $ 579 $ 2,086 $ 1,006 Net income available to common
shareholders per share: Basic $ 0.04 $ 0.02 $ 0.09 $ 0.05 Diluted
0.04 0.02 0.08 0.04 Weighted average number of common shares
outstanding: Basic 20,929 16,321 18,959 16,129 Diluted 22,464
16,908 20,622 16,906 PRNewswire-FirstCall -- Aug. 15 END FIRST AND
FINAL ADD DATASOURCE: Home Solutions of America, Inc.
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