TMSF Holdings, Inc. Announces Preliminary Financial Results for the Three Months and Nine Months Ended September 30, 2004 and Conference Call
11/19/04
LOS ANGELES, Nov 19, 2004 (BUSINESS WIRE) --
TMSF Holdings, Inc. (OTCBB:TMFZ) announced that for the three months and nine months ended September 30, 2004 income before tax from its wholly-owned subsidiary, The Mortgage Store Financial, Inc., was $5.2 million and $10.2 million, respectively, compared to a pre-tax lo
ss of $732,000 and income before tax of $882,000 for the corresponding periods in 2003. Earnings per share for the third quarter and year to date in 2004 were $0.21 and $0.43, respectively. Strong growth in mortgage origination and higher premiums from the sale of loans resulted in total revenue of $16.3 million during the three months ended September 30, 2004, an increase of 182% from $5.4 million in revenue for the comparable period in 2003.
Mr. Raymond Eshaghian, CEO of TMSF Holdings, Inc. and President of The Mortgage Store Financial, Inc., commented on the third quarter and nine month results for 2004, stating, "Our strategy of emphasizing higher-premium Alt-A type mortgage loans has again clearly shown its validity in this quarter, as it did last quarter, when we reported an 83% year-over-year increase in quarterly revenue from sales of mortgage loans, to $8.8 million." Mr. Eshaghian added, "We have successfully established our company as a niche lender and expanded our geographical coverage with the introduction of our loan programs into new markets across the country. We continued to invest in marketing and implementation of information technologies that have improved our services and delivery systems to support our future growth."
Conference call scheduled for Tuesday, November 23
TMSF Holdings, Inc. also announced that it will hold a conference call to discuss third quarter 2004 earnings on Tuesday, November 23, 2004 at 10:00 a.m. PST (1:00 p.m. EST).
To participate in the conference call, please dial the following number five to ten minutes prior to the scheduled conference call time: (877) 586-7724. There is no pass code required for this call.
If you are unable to participate in the call at this time, a replay will be available on Tuesday, November 23, 2004 at 1:00 p.m. PST, through Tuesday, November 30, 2004 at 9:00 p.m. PST. To access the replay dial (800) 642-1687 and enter the conference ID number 2245725.
11/19/04
LOS ANGELES, Nov 19, 2004 (BUSINESS WIRE) --
TMSF Holdings, Inc. (OTCBB:TMFZ) announced that for the three months and nine months ended September 30, 2004 income before tax from its wholly-owned subsidiary, The Mortgage Store Financial, Inc., was $5.2 million and $10.2 million, respectively, compared to a pre-tax lo
ss of $732,000 and income before tax of $882,000 for the corresponding periods in 2003. Earnings per share for the third quarter and year to date in 2004 were $0.21 and $0.43, respectively. Strong growth in mortgage origination and higher premiums from the sale of loans resulted in total revenue of $16.3 million during the three months ended September 30, 2004, an increase of 182% from $5.4 million in revenue for the comparable period in 2003.
Mr. Raymond Eshaghian, CEO of TMSF Holdings, Inc. and President of The Mortgage Store Financial, Inc., commented on the third quarter and nine month results for 2004, stating, "Our strategy of emphasizing higher-premium Alt-A type mortgage loans has again clearly shown its validity in this quarter, as it did last quarter, when we reported an 83% year-over-year increase in quarterly revenue from sales of mortgage loans, to $8.8 million." Mr. Eshaghian added, "We have successfully established our company as a niche lender and expanded our geographical coverage with the introduction of our loan programs into new markets across the country. We continued to invest in marketing and implementation of information technologies that have improved our services and delivery systems to support our future growth."
Conference call scheduled for Tuesday, November 23
TMSF Holdings, Inc. also announced that it will hold a conference call to discuss third quarter 2004 earnings on Tuesday, November 23, 2004 at 10:00 a.m. PST (1:00 p.m. EST).
To participate in the conference call, please dial the following number five to ten minutes prior to the scheduled conference call time: (877) 586-7724. There is no pass code required for this call.
If you are unable to participate in the call at this time, a replay will be available on Tuesday, November 23, 2004 at 1:00 p.m. PST, through Tuesday, November 30, 2004 at 9:00 p.m. PST. To access the replay dial (800) 642-1687 and enter the conference ID number 2245725.
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