This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Timios National Corporation Files Third Quarter Results

ARLINGTON, Va., Nov. 14, 2013 (GLOBE NEWSWIRE) -- Timios National Corporation (OTCBB:HOMS), a national provider of real estate services to banks, financial institutions and mortgage lenders reported its third quarter financial results in its Form 10Q, filed November 12, 2013, for the three and nine month periods ended September 30, 2013.

Revenue for the three months ending September 30, 2013 was $6.8 million as compared to $5.7 million for the three months ended September 30, 2012, a 19% increase. Net loss was $120K or $0.05 per share for the three months of 2013 compared to a net loss of $160K or $0.20 per share for the same period of 2012. Increased mortgage interest rates during the three months ended September 30, 2013 negatively impacted our results from operations.

Revenue for the nine months ending September 30, 2013 was $22.7 million as compared to $15.1 million for the nine months ended September 30, 2012, a 50% increase. Net income was $275K or $0.12 per share for the nine months ended September 30, 2013, compared to a loss of $707K or $2.04 per share for the same period of 2012.

At September 30, 2013 there were 2,351,599 common shares in issue and 2,564,487 preferred shares in issue, which are potentially convertible into an additional 8,432,476 common shares.

C. Thomas McMillen, HOMS Chairman and CEO, stated, "The rise in mortgage interest rates during the quarter negatively affected our orders and revenue, especially in our refinance business channel. Fortunately, we were able act early enough and cut some of our variable costs to minimize the financial impact." McMillen continued, "We plan to continue our diversification efforts and to keep a close watch on interest rates and our variable costs as we progress through the balance of 2013."

Trevor Stoffer, HOMS COO and CEO of Timios, Inc. commented, "We took a major step in expanding in the Texas market with our recent acquisition of 14 retail locations toward the end of the quarter. This significantly diversifies our overall business including a larger percentage of purchase and commercial business. This business channel is less volatile to interest rate fluctuations, and we believe it represents a significant growth opportunity through leveraging our service and technology."

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs