SOUTHFIELD, Mich., March 12 /PRNewswire-FirstCall/ -- Origen Financial, Inc. (Pink Sheets: ORGN), a real estate investment trust that manages residual interests in securitized manufactured housing loan portfolios, today announced a preliminary unaudited net loss of $4.4 million, or $0.17 per share, for the fourth quarter of 2008, and a preliminary unaudited net loss for the full year of 2008 of $35.4 million, or $1.38 per share. Sun Communities, Inc. (Sun), an owner of approximately 19 percent of Origen's outstanding common stock, is required to report certain financial results and information of Origen as part of its accelerated SEC reporting obligation. Origen has provided Sun with the preliminary information reflected in this release to assist Sun in meeting its filing obligation. Origen is issuing this press release of preliminary information to assure broad availability to all shareholders and the trading markets of the same preliminary information it has provided to Sun.
The preliminary financial results and information included in this release are unaudited and are subject to audit and year-end adjustments. Audited financial information will be included in Origen's Annual Report for the Year Ended December 31, 2008 on Form 10-K, expected to be filed with the SEC before March 31, 2009.
Origen will release final earnings results for the fourth quarter and full year 2008 after the close of market on Wednesday, March 25, 2009. Management will host a conference call and webcast on Thursday, March 26, 2009, at 11:00 a.m. Eastern Time. The call may be accessed on Origen's web site at http://www.origenfinancial.com/ or by dialing 877-719-9786.
A replay will be available through April 3, 2009, by dialing 888-203-1112, passcode 3847193. You may also access the replay on Origen's website for 90 days following the event.
ORGN-G About Origen Financial, Inc.
Origen is an internally managed and internally advised company that has elected to be taxed as a real estate investment trust. Origen is based in Southfield, Michigan.
For more information about Origen, please visit http://www.origenfinancial.com/ or http://www.pinksheets.com/.
