Timios National Corporation Files 10Q For The Period Ending March 31, 2013
ARLINGTON, Va., May 14, 2013 /PRNewswire/ -- Timios National Corporation (OTCBB: HOMS), a national provider of real estate services to banks, financial institutions and mortgage lenders reported in its Form 10Q, filed May 13, 2013, its financial results for the quarter ended March 31, 2013.
Revenue for the 2013 quarter was $7.4 million as compared to $4.9 million for the 2012 quarter. Net income was $66 thousand for the 2013 quarter as compared to a loss of $119 thousand for the 2012 quarter. EBITDA for the 2013 quarter was $200 thousand as compared to EBITDA of $21 thousand for the 2012 quarter. Basic earnings per share were $0.03 for the 2013 quarter as compared to a loss of $1.09 per share in the 2012 quarter. Diluted earnings per share were $0.01 for the 2013 quarter as compared to a loss of $1.09 per share for the 2012 quarter.
As of March 10, 2013, there were 2,351,599 common shares outstanding. Additionally, the Company has 2,564,487 shares of preferred stock outstanding, which are potentially convertible into 8,432,476 common shares.
C. Thomas McMillen, HOMS Chairman and CEO, stated, "We are pleased with the revenue recorded in the first quarter and we are tracking to our 2013 plan. As a result of our debt restructuring during the quarter we should be in good shape to increase profitability."Conference Call and Webcast The Company will host an earnings conference call at 9:00 a.m. EST on Thursday, May 16, 2013. During the call, C. Thomas McMillen, Chairman and Chief Executive Officer, Michael T. Brigante, Chief Financial Officer and Trevor Stoffer, Chief Operating Officer will discuss the Company's performance, financial results and operations. The telephone number for the conference call is 877-407-8033 (Toll Free US); and 201-689-8033 (International). A live webcast of the call will also be available on the Company's website, www.timios.com. Investors can also access the webcast at www.InvestorCalendar.com. The webcast will be archived on the site, and investors will be able to access an encore recording of the conference call for one week by calling 1-877-660-6853 (Replay Toll Free US) 1-201-612-7415 (Replay International), conference ID # 414770. The encore recording will be available after the conference call has concluded.
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