Accredited Home Lenders Increases Q3 and FY 2003 EPS Guidance; Third Quarter EPS Guidance Raised to $1.30 - $1.40 and Full Year EPS Guidance Raised to $4.50 - $4.75.Business Editors/Real Estate Writers SAN DIEGO--(BUSINESS WIRE)--Sept. 8, 2003 Accredited accredited recognition by an appropriate authority that the performance of a particular institution has satisfied a prestated set of criteria. accredited herds cattle herds which have achieved a low level of reactors to, e.g. Home Lenders Holding Co. (Nasdaq: LEND) today announced that it has increased its third quarter and full year 2003 earnings per share guidance ranges. For the third quarter of 2003, Accredited increased its guidance range from the previously announced $1.00 - $1.10 to $1.30 - $1.40 earnings per share. For the full year 2003, Accredited increased its earnings per share guidance range from the previously announced $3.85 - $4.10 to $4.50 - $4.75 earnings per share. Accredited Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. James Konrath said, "Accredited has designed its origination platform to help borrowers whose needs for financing generally have not been diminished by the recent increase in the long-term interest rates. As a result of continued growth in that platform, originations at Accredited are at record levels; whole loan premiums and net interest margins have remained attractive, and the recent short-term rate fluctuations have been mitigated by our hedging strategies and adjustments to pricing on the new loans we originate. For the remainder of 2003, we believe originations should remain consistent with the current run rate, and that other drivers for profitability will not experience meaningful deterioration." About Accredited Accredited Home Lenders Holding Co. is a nationwide mortgage banking company that originates, finances, sells, securitizes and services nonprime mortgage loans secured by single-family residences. The company is headquartered in San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. . Additional information may be found at www.accredhome.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement The earnings information and projections discussed herein constitute forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of the federal securities laws. Forward-looking statements include statements regarding the company's planned revenue generating strategy, volume of originations, anticipated securitizations, expected net earnings for the third quarter and full year 2003; the company's liquidity; and the company's intended loan disposition strategy, including whole loan premiums received. Actual results and the timing of certain events could differ materially from those projected in or contemplated by these forward-looking statements due to a number of factors, including but not limited to: interest rate volatility and the level of interest rates generally; general political and economic conditions; the sustainability of loan origination The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. volumes; the availability of financing for the origination of mortgage loans; the ability of the company to sell or securitize Securitize The practice of a company selling accounts receivables or other debts owed to it. The third party that buys the debt assumes ownership of it and the responsibility for collecting the debts, and keeps the repayments when made. mortgage loans; and other risk factors outlined in Accredited Home Lenders Holding Co.'s filings with the Securities and Exchange Commission ("SEC") including those listed in its report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. , filed with the SEC on March 28, 2003, and in its report on Form 10-Q Form 10-Q See 10-Q. for the period ended June 30, 2003, filed with the SEC on August 14, 2003. |
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