Homestore Estimates Third Quarter Results.WESTLAKE VILLAGE, Calif., Oct. 3 /PRNewswire/ --
Homestore.com, Inc. (Nasdaq: HOMS), the leading supplier of technology and online media to the home and real estate industry, today commented on the impact on its business of the Sept. 11 terrorist attacks and the advertising market slowdown. The attacks compounded an already deteriorating advertising market and caused a loss of business due to the cancellation of sales visits to professional customers. As a result of these developments, the company now projects third quarter revenue to be approximately $114 million to $118 million resulting in a third quarter pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts.
The phrase pro forma loss per share, excluding nonrecurring items, of $0.01 to $0.06.
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The company said that further guidance relating to relating to relate prep → concernant
relating to relate prep → bezüglich +gen, mit Bezug auf +acc the fourth quarter 2001 and full year 2002 would be given when the company releases third quarter results.
"Our hearts and prayers continue to be with the families impacted by this tragedy," said Stuart Wolff, Homestore's chairman and chief executive officer. "I also want to commend the employees of Homestore who personally supported the relief efforts. Homestore will continue to support the ongoing relief efforts and assist our employees, customers and the country in rebuilding. Despite the challenges of the economy and the attacks, we remain focused on building great products and providing great customer service to our hundreds of thousands of customers."
Homestore.com, Inc. is supporting the disaster relief efforts resulting from the attacks on Sept. 11, including the REALTORS(R) Housing Relief Fund established by the National Association of REALTORS(R) to help pay mortgage and rental costs of the affected families and The New York Police New York Police may refer to:
Homestore.com, Inc. (Nasdaq: HOMS) is the leading supplier of online media and technology solutions to the home and real estate industry. Through its family of Web sites, the company offers consumers Everything Home(TM) including the largest online source of homes for sale. The company's network of Web sites include flagship site REALTOR.com(R), the official Web site of the National Association of REALTORS(R); HomeBuilder.com(TM), the official new homes site of the National Association of Home Builders; Homestore.com(TM) Apartments & Rentals; and Homestore.com(TM), a home information resource. Content is available through the AOL (A division of Time Warner, Inc., New York, NY, www.aol.com) The world's largest online information service with access to the Internet, e-mail, chat rooms and a variety of databases and services. House & Home Channel. Homestore also develops and sells technology to help home and real estate professionals connect with their online audience and work more efficiently. For more information log on to: http://www.homestore.com/corporateinfo.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These forward looking statements are subject to material risks and uncertainties and investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from these expectations due to changes in global economic, business, competitive market and regulatory factors. Reported results should not be considered as an indicator of future performance. Risks and uncertainties that may affect our future results include, but are not limited to, the following: our ability to maintain and manage favorable fa·vor·a·ble
1. Advantageous; helpful: favorable winds.
2. Encouraging; propitious: a favorable diagnosis.
3. agreements and relationships with the National Association of REALTORS(R), the National Association of Home Builders, other individuals and entities in the real estate professional community, and Internet portals; our ability to continue to obtain a large percentage of available real estate property listings; acceptance by consumers and real estate professionals of our business model; our ability to manage rapid growth, both internally and through acquisitions; the success of strategic alliances and joint ventures that we enter into; cyclical cyclical
Of or relating to a variable, such as housing starts, car sales, or the price of a certain stock, that is subject to regular or irregular up-and-down movements. , seasonal and other changes in the real estate markets; seasonality and other fluctuations in the company's financial results; our ability to maintain high reliability for our server-based Web services (1) Loosely, any online service delivered over the Web. Such usage appears in articles from non-technical sources, but not in IT-oriented publications, because definition #2 below describes the correct use of the term. ; our ability to protect our intellectual property and uncertainty as to the timing and amount of future Internet-related revenue and profits. The matters discussed in this press release also involve risks and uncertainties described from time to time in our filings with the Securities and Exchange Commission (SEC). In particular, see "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2000 filed with the SEC.
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