Key Developments For Palm Harbor Homes, Inc.
Palm Harbor Homes, Inc. (PHHM.O) (Consolidated Issue listed on NASDAQ Global Market)
Palm Harbor Homes, Inc. Comments On FY 2010 EBITDA Outlook
Palm Harbor Homes, Inc. announced that it expect to return to positive EBITDA sometime during fiscal 2010.
Palm Harbor Homes, Inc. And Mitchell Company Awarded FEMA Pilot Project For Permanent Housing
Palm Harbor Homes, Inc. announced that the City Council of the City of Bayou La Batre, Alabama, has awarded the Company and the Mitchell Company its Safe Harbor project. The Safe Harbor project will include a total of 100 to 110 single-family replacement homes for displaced Hurricane Katrina victims at a budget of approximately $9.0 million. The homes will be built through a joint effort of the Florida Division of Palm Harbor Homes and the Mitchell Company of Mobile, Alabama. The Safe Harbor project will commence immediately.
Palm Harbor Homes, Inc.'s Announces Sale of Loans by CountryPlace Mortgage
Palm Harbor Homes, Inc. announced that CountryPlace Mortgage, Ltd., the Company's full-service lending subsidiary, sold approximately $51.3 million of its $69.4 million warehoused portfolio of chattel and mortgage loans. Approximately $41.5 million of the proceeds were used to repay in full and terminate the Company's warehouse borrowing facility scheduled to expire on April 30, 2008.
Palm Harbor Homes, Inc. Issues Q3 2006 EPS Guidance Below Analysts' Estimates
Palm Harbor Homes, Inc. announced that it it expects to report a loss for the third quarter 2006. The Company expects to report a loss of approximately $0.11 per share for the third quarter 2006. According to Reuters Estimates, analysts on an average were expecting the Company to report EPS of $0.04 for third quarter 2006.
Palm Harbor Homes, Inc. Announces Dissolution of Its Partnership With BSM Financial, L.P.; Issues Q2 2007 EPS Guidance Below Analysts' Estimates
Palm Harbor Homes, Inc. announced that it has filed a petition for the dissolution of its partnership with BSM Financial, L.P., a conventional real estate mortgage bank of which Palm Harbor is the 50% sole limited partner. It will write off its investment in BSM during the second fiscal quarter, resulting in additional charges of approximately $4.3 million. As a result of this combination of events with total charges of approximately $8.3 million, it expects to report a net loss of approximately $0.23 per share for the second fiscal quarter. Excluding these charges, the Company expects to report a break-even quarter. According to Reuters Estimates, analysts were expecting the Company to report EPS of $0.03 in the same period.
