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Origin Materials Inc

Origin Materials Inc (ORGN)

0.9049
-0.0063
( -0.69% )
Updated: 11:42:19

Your Hub for Real-Time streaming quotes, Ideas and Live Discussions

Key stats and details

Current Price
0.9049
Bid
0.9007
Ask
0.9091
Volume
299,958
0.88 Day's Range 0.9199
0.4422 52 Week Range 4.53
Market Cap
Previous Close
0.9112
Open
0.9082
Last Trade
100
@
0.9049
Last Trade Time
11:42:19
Financial Volume
$ 270,306
VWAP
0.901147
Average Volume (3m)
1,925,750
Shares Outstanding
147,022,172
Dividend Yield
-
PE Ratio
68.25
Earnings Per Share (EPS)
0.16
Revenue
28.81M
Net Profit
23.8M

About Origin Materials Inc

Origin Materials Inc is a carbon-negative materials company. The platform turns the carbon found in biomass into useful materials, while eliminating the need for fossil resources and capturing carbon in the process. Origin Materials Inc is a carbon-negative materials company. The platform turns the carbon found in biomass into useful materials, while eliminating the need for fossil resources and capturing carbon in the process.

Sector
Industrial Organic Chemicals
Industry
Blank Checks
Headquarters
Wilmington, Delaware, USA
Founded
2021
Origin Materials Inc is listed in the Industrial Organic Chemicals sector of the NASDAQ with ticker ORGN. The last closing price for Origin Materials was $0.91. Over the last year, Origin Materials shares have traded in a share price range of $ 0.4422 to $ 4.53.

Origin Materials currently has 147,022,172 shares outstanding. The market capitalization of Origin Materials is $133.97 million. Origin Materials has a price to earnings ratio (PE ratio) of 68.25.

ORGN Latest News

Origin Materials Regains Compliance with Nasdaq Listing Requirements

Origin Materials (“Origin”) (NASDAQ: ORGN, ORGNW), the world’s leading carbon negative materials company with a mission to enable the world’s transition to sustainable materials, today announced...

Origin Materials and Bachmann Group to Mass Produce PET Caps and Closures

Origin’s cap production lines, the first of which is expected to come online during Q4 2024, are designed to mass produce caps and closures made with virgin or recycled PET Origin’s sustainable...

Origin Materials, Inc. Reports Operating and Financial Results for First Quarter 2024

– Reaffirms Pathway to Profitability Led by Caps & Closures, No Additional Equity Capital Required – – Accelerates the Procurement of Multiple Additional High-Throughput Caps and Closures...

Origin Materials Introduces World’s First Tethered PET Beverage Cap for Improved Recycling Circularity

Origin’s sustainable PET caps and closures enhance recycling circularity, enable "mono-material” containers, lighter packaging, and improved product shelf life Origin Materials (“Origin”...

Origin Materials Introduces World’s First CSD (Carbonated Soft Drink) PET Cap, the Lightest of its Kind Ever Produced Commercially

Origin’s sustainable PET caps and closures enhance recycling circularity, enable "mono-material” containers, lighter packaging, and improved product shelf life Origin Materials (“Origin”...

Origin Materials Partners with IMDvista on World’s First PET Cap and Closure Manufacturing System

Origin’s manufacturing system is expected to produce the first commercial-scale PET caps and closures Origin’s sustainable PET caps and closures enhance recycling circularity, enable...

Origin Materials Announces First Quarter 2024 Earnings Release Date and Conference Call

Origin Materials, Inc. (“Origin,” “Origin Materials,” or “the Company”) (Nasdaq: ORGN, ORGNW), today announced that it will release its first quarter 2024 results after market close on Tuesday...

Origin Materials Partners with PackSys Global on World’s First PET Cap and Closure Manufacturing System

Origin’s manufacturing system is expected to produce the first commercial-scale PET caps and closures Origin’s sustainable PET caps and closures enhance recycling circularity, enable...

PeriodChangeChange %OpenHighLowAvg. Daily VolVWAP
1-0.1051-10.40594059411.011.0250.887503100.94385734CS
4-0.0951-9.5111.070.722815876300.89399406CS
120.087410.69113149850.81751.3050.722819257500.99610981CS
260.275643.79469251550.62931.3050.442218566810.7848639CS
52-3.3951-78.95581395354.34.530.442220315611.06864258CS
156-5.9251-86.75109809666.838.10.442215022203.61181673CS
260-9.2697-91.106284276510.174610.280.442215044663.7289138CS

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ORGN Discussion

View Posts
1hot toddy 1hot toddy 2 months ago
WOOOW 39000 SHARE BUY $1.12 $$$$$$$$$$$$$$/
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roadkilll roadkilll 2 months ago
Need a company to sign the letter of intent for the big move.
currently it looks like there is a lot of interest in keeping this one sub $1.
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roadkilll roadkilll 3 months ago
monomaterial, that was the claim for adopting HDPE Caps.
Wunderlich notes that in the case of small HDPE bottles, the benefit of an-all PE closure is clear, as the entire container is monomaterial and can be recycled in the same stream.
.
Published 10/1/2021
Future Caps & Closures: More HDPE, More PCR
Plastics Technology Magazine
.
Origin has the real mono material, all PET bottle and cap, and is introducing it at this year's NPE2024.
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roadkilll roadkilll 3 months ago
Looks like the first mover will be a Soft Drink company
Origin Materials Introduces World’s First CSD (Carbonated Soft Drink) PET Cap, the Lightest of its Kind Ever Produced Commercially
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roadkilll roadkilll 3 months ago
Big plastic convention in Orlando this week
Bissell will be a speaker Tues.
later, Aitor Henao Sotoof PackSys Global’s. Head of Marketing & Communications at the Swiss company, stated, “We are proud to have partners like Origin who have entrusted us with their project, relying on our experience and expertise in engineering. The tests conducted at our technology center, KREALAB, were highly successful, and we are excited to showcase the results on May 9th at NPE2024 in Orlando in our booth alongside the Origin team.”
.
"highly successful"
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roadkilll roadkilll 3 months ago
Real contracts with real numbers that can finally be crunched for valuation. Also think first mover for an all PET bottle/cap will quickly bring others into the fold.
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roadkilll roadkilll 3 months ago
Origin and PackSys will have adjacent booths
Multiple partners are already testing the thousands of caps produced in scale that have passed inspection. Time to ink some deals.
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roadkilll roadkilll 3 months ago
Got their duck in a row
* Origin Materials Partners with PackSys Global on World’s First PET Cap and Closure Manufacturing System
*Origin Materials Partners with IMDvista on World’s First PET Cap and Closure Manufacturing System (vision inspection)
Just in time;
Every three years, bold leaders, creative thinkers, and visionaries from every industry in the world gather at NPE® to advance their business through innovations in plastics. In just 5 days at NPE2024, you’ll build new partnerships, experience the latest technology, and unlock new opportunities to drive exponential growth for your organization. The website for all information about the event is https://npe.org/.

Date: May 6-10, 2024

Location: Orlando, Florida
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roadkilll roadkilll 3 months ago
PET caps will be produced from Modules modified for Origin process. Plans are for in house modules and on site modules.
Following Koch for a pr on their end
Origin Materials engaged Koch Modular at an early stage for guidance on set up and production, with a primary focus at the front end of their process- converting biomass to chlorinated hydrocarbon through reaction, distillation and filtration. Downstream of Koch Modular's system Origin process involved the conversion of chlorinated hydrocarbon into PET (polyethylene terephthalate)a strong and lightweight thermoplastic commonly used in beverage packaging
👍️0
roadkilll roadkilll 4 months ago
The PET cap that will make recycling a step easier.
The industry has been trying but no succeeded in making an all PET cap. ro simplify recycling.
August 9th, 2023 Origin Materials announces;
Origin Materials has created PET bottle caps to allow manufacturers to develop monomaterial packaging that can be recycled without separation. The caps can be produced with any PET, from recycled PET (rPET) to Origin’s 100% bio-based, carbon-negative virgin PET.
Is there demand?
Q4 update
We successfully completed our third manufacturing development run on production-scale equipment producing thousands of caps per hour. Our initial product passed third-party tests validating that performance meets or exceeds industry standards and we have conducted preliminary consumer testing. Our partners have conducted extensive diligence and demonstrated strong organizational alignment across procurement, R&D, marketing, and sustainability to move forward with Origin’s solution, and we are now at the letter of intent phase with multiple leading CPG companies that collectively consume tens of billions of caps per year.
.
Management touting this as the path to profitability starting in 2025
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roadkilll roadkilll 4 months ago
Big day. Scale plant is now producing PET with wood based source material. The company is hated because of delays and not followed by Wall Street so not seeing price action expected. Added and glad to wait for serious coverage to crank up this summer.
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roadkilll roadkilll 4 months ago
Price is half of cash on hand with a possible big event coming soon
.
First caps and closure partner?

Tethering caps to the bottle is one way to ensure they’re recovered, and the concept is included in EU single-use plastic legislation set to take effect next year. Tethering keeps the cap affixed to the bottle with the plastic tamper-evident band once a user breaks the band upon opening the bottle. Tetra Pak is among the companies preemptively introducingtethered caps, as is Berry Global via a partnership with Coca-Cola. Bissell said tethering will be an option for Origin’s PET cap customers.
.
Caps and closure endeavor is independent of Origin 1 biomass. All PET cap has always been a goal and Origin is the first company to be able to produce a PET cas meeting industry requirements.
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roadkilll roadkilll 4 months ago
some big partners don't think this is a scam.
Partners spent of $13 last quarter testing Origin product in their systems:
"We successfully completed our third manufacturing development run on production-scale equipment, producing thousands of caps per hour. Our initial product passed third-party tests, validating that performance meets or exceeds industry standards, and we have conducted preliminary consumer testing. Our partners have conducted extensive diligence and demonstrated strong organizational alignment across procurement, R&D, marketing, and sustainability to move forward with Origin's solution.
.
And we are now at the letter-of-intent phase with multiple leading CPG companies that collectively consume tens of billions of caps per year. "
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roadkilll roadkilll 4 months ago
Origin isn’t touting this innovation as the first-ever PET cap, but rather an option that’s not commonly available in the market and could be transformational for the sector, Bissell said.

“It’s not as though we’re the first people ever to try to make a PET cap for bottles. ... It’s that they weren’t successful for a variety of reasons,” Bissell said. “That’s what we really solve — we’re processing the material differently so that we can get to a cap economically that fits to an 1881 standard bottle.”
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roadkilll roadkilll 4 months ago
Q4 CC
2023 was Origin's first year of revenue generation since becoming a public company, with revenue of $13.1 million and $28.8 million for the fourth quarter and full year, respectively.
* somebody is interested in the scale results
Management said
* they have fine tuned the plant on corn starch and should be producing product using wood residue in the coming months.
* expecting licensing of cap closures this year and becoming profitable by 2025.
* cash burn expected to drastically slow as business model means partners will be funding the next steps
.
The coming months are going to be make it or break it for Origin. Moonshot if the news is good and a partner is announced.
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StockStud22 StockStud22 11 months ago
Really figured there would be more activity on this board based on the last couple days. Where's everyone at?
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willlbone willlbone 12 months ago
Bid 1 dollar.
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Investoray Investoray 3 years ago
Yeah right, LMAO
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Three2001 Three2001 3 years ago
$ORGN Coming back thru $AACQ SPAQ...this quarter allegedly.
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Renee Renee 4 years ago
ORGN: effective Feb. 26,2020 Liquidation/Final Distribution.

FINRA will delete the symbol.

https://otce.finra.org/otce/dailyList?viewType=Deletions
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ElementaryValue ElementaryValue 5 years ago
ORGN are liquidating;

www.prnewswire.com/news-releases/origen-financial-announces-dissolution-of-company-300979565.html


They will be paying out between $0.10-0.12 in Q1 of 2020.
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ElementaryValue ElementaryValue 5 years ago
I've not got in touch with management yet but I've written the company up here www.elementaryvalue.com/investing-blog/origen-financial-inc-orgn-nol-stub-trading-below-net-cash
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Watcher31 Watcher31 6 years ago
Request for contact info. Anyone know a working number??
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Watcher31 Watcher31 6 years ago
Cash and seeking Merger
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Watcher31 Watcher31 6 years ago
Company is alive !!!
https://www.otcmarkets.com/stock/ORGN/news/Origen-Financial-Announces-Adoption-Of-Net-Operating-Loss-Shareholder-Rights-Agreement?id=169644
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elkonig elkonig 9 years ago
Looks like ORGN is closing its doors. Hope you get something out of the deal like they say you will.
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Clermont Clermont 10 years ago
Been holding this for years. Glad to see movement to the upside
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Lawrence 147 Lawrence 147 10 years ago
Just went to their web site and the loan portfolio is down to 500 million; no longer 1 billion dollars.
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Clermont Clermont 10 years ago
Anyone home? lol
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es1 es1 11 years ago
Immie did you ever get a divi from these guys? I just wandered across it when I searched for high yield divis.
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Immie Immie 11 years ago
Decent volume today

$1.6000 1,750 OTO 12:58:01
$1.6000 250 OTO 12:58:01
$1.6000 167 OTO 11:38:51
$1.6000 8,500 OTO 11:38:46
$1.6000 1,000 OTO 11:37:17
$1.5900 1,799 OTO 11:36:23
$1.5500 500 OTO 11:05:36
$1.5400 400 OTO 11:05:03
$1.5200 500 OTO 11:04:16
$1.5000 11,900 OTO 10:44:16
$1.5000 100 OTO 10:43:05
$1.5000 200 OTO 10:33:49
$1.5200 100 OTO 10:27:59
$1.5200 100 OTO 10:27:58
$1.5200 100 OTO 10:27:58
$1.5200 100 OTO 10:27:45
$1.5200 300 OTO 09:57:5
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Immie Immie 11 years ago
1.51
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Immie Immie 11 years ago
1.58 x 1.59.... Is this finally going to get an stay over 1.60
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Immie Immie 11 years ago
This is a REIT
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Immie Immie 11 years ago
I got the chart fixed.
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Immie Immie 11 years ago
Check the chart

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Immie Immie 11 years ago
Recent Trades:

$1.5000 100 OTO 15:55:26
$1.5000 500 OTO 15:55:15
$1.5000 100 OTO 15:54:43
$1.5000 2,500 OTO 15:54:38
$1.5400 380 OTO 15:53:53
$1.6000 380 OTO 14:57:40
$1.6000 1,807 OTO 14:57:33
$1.6000 300 OTO 13:54:12
$1.6000 100 OTO 13:00:43
$1.5000 9,384 OTO 09:38:33
$1.5300 616 OTO 09:38:28
$1.6000 133 OTO 03/13
$1.6000 100 OTO 03/13
$1.6000 200 OTO 03/13
$1.6000 250 OTO 03/12
$1.5500 345 OTO 03/12
$1.5900 1,000 OTO 03/12
$1.5900 350 OTO 03/12
$1.5300 100 OTO 03/12
$1.4500 100 OTO 03/12
$1.4500 555 OTO 03/12
$1.6000 350 OTO 03/12
$1.6000 151 OTO 03/11
$1.5800 675 OTO 03/11
$1.5800 500 OTO 03/11
$1.5800 100 OTO 03/11
$1.5800 400 OTO 03/11
$1.5700 200 OTO 03/11
$1.5800 300 OTO 03/11
$1.5800 150 OTO 03/11
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Immie Immie 11 years ago
Check their dividend history

http://www.origenfinancial.com/index.php?q=node/112
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Immie Immie 11 years ago
Grabbed some today 1.54
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Immie Immie 11 years ago
1.50 x 1.60
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Immie Immie 11 years ago
No sure what is going on but they last filing was audited (compared to all their previous unaudited fins) so that is a positive in my mind. If you check the chart the 6 month looks almost linear with a positive slope..... need to spend more time here to see what is going on since I am not seeing any chatter on ihub about this one.
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flemsnopes flemsnopes 11 years ago
Not only have I not been watching, I don't even remember why I posted the original news item. It appears they stopped filing and went pink sometime in 2009. I notice the chart connected to the ORGN IH board does not appear to be updating correctly, but something is obviously going on now and may be related to the recent modest - possibly rigged? - recovery in the mortgage industry. I will look into ORGN in more depth over the next few days.
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Immie Immie 11 years ago
interesting... according to ORGN on otcmarkets Dec 31st 2012 was their first audited fins.... the previous ones were all unaudited.
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Immie Immie 11 years ago
interesting... according to ORGN on otcmarkets Dec 31st 2012 was their first audited fins.... the previous ones were all unaudited.
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Immie Immie 11 years ago
Curious if anyone got the dividends for this thus far?
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Immie Immie 11 years ago
Origen Financial Announces Fourth Quarter And Full Year 2012 Results

PR Newswire

SOUTHFIELD, Mich., Feb. 20, 2013

SOUTHFIELD, Mich., Feb. 20, 2013 /PRNewswire/ -- Origen Financial, Inc. (Pink Sheets: ORGN) ("Origen" or the "Company"), a real estate investment trust that manages residual interests in securitized manufactured housing loan portfolios, today announced a net loss of $70,000 for the quarter ended December 31, 2012, as compared to a net loss of $3.1 million, or $0.12 per common share, as restated for the fourth quarter of 2011. For the full year the Company recorded a net loss of $1.4 million, or $0.05 per common share as compared to a net loss of $10.5 million, or $0.41 per common share as restated, for the year ago period.

As reported in the Company's third quarter 2012 earnings press release, the restatement of 2011 results was necessitated by interest rate calculation errors by the Bank of New York Mellon in its capacity as indenture trustee for Origen Manufactured Housing Contract Trust 2006-a and Origen Manufactured Housing Contract Trust 2007-a ("the Issuers") which resulted in higher rates on the Issuer's Class A-2 notes than that prescribed by the related indentures. The restatement resulted in a reduction of interest expense of approximately $0.3 million for the fourth quarter 2011 and approximately $1.3 million for the full year 2011. Such restatements had no impact on cash payments to the Company relating to its residual interests in the affected securities.

On February 20, 2013, Origen's Board of Directors declared a common stock dividend of $0.08 per share to be paid to holders of Origen's common stock of record on March 4, 2013. The dividend will be paid on March 11, 2013 and will approximate $2.1 million. The cash dividend will represent a return of capital.

For the fourth quarter 2012, net interest income before loan losses and impairment decreased by approximately 12 percent to $4.3 million from $4.9 million for the fourth quarter 2011, as restated. Net interest income before loan losses and impairment for the full year 2012 decreased by approximately 21 percent to $18.1 million from $22.9 million for the full year 2011, as restated.

Non-interest income for the fourth quarter 2012 increased $0.7 million to $1.6 million from $0.9 million for the year ago quarter, an increase of approximately 78 percent. For the full year 2012, non-interest income was $9.4 million as compared to $3.7 million for the full year 2011, an increase of $5.7 million, or approximately 154 percent. The termination of certain interest rate swaps in May 2012 resulted in gains of approximately $6.2 million, which combined with monthly swap cash settlements prior to the terminations, resulted in total income from derivatives of $7.4 million, as compared to derivative income of $3.0 million for the full year of 2011, for a total increase in derivative income of $4.4 million. The balance of the increase in non-interest income was attributable to $1.4 million in cash payments from AMBAC, as financial guarantor for Origen Manufactured Housing Contract Trust 2007-a and Origen Manufactured Housing Contract Trust 2007-b ("the Trusts"). Such payments represented partial settlement of claims under an assurance obligation by AMBAC and were distributed by the trustee to the bondholders of the Trusts. The Company received no cash from the AMBAC payments.

The fourth quarter 2012 provision for loan losses was $3.3 million versus $6.0 million for the prior year quarter, a decrease of approximately 45 percent. The full year 2012 provision for loan losses was $17.4 million as compared to $24.1 million for the year ago period, a decrease of approximately 28 percent. Decreases in provisions for loan losses reflect the declining balances of the Company's static loan portfolio and improvements in recoveries on dispositions of foreclosed and repossessed properties.

Non-interest expenses, including $1.9 million of loan servicing expense, were $2.7 million for the fourth quarter 2012, as compared to $3.0 million, including $2.2 million of loan servicing expense, for the year ago quarter, a decrease of approximately 10 percent. Full year 2012 non-interest expenses were $11.4 million, including $7.9 million of loan servicing expense versus the prior year total of $12.9 million, including $9.0 million of loan servicing expense, a reduction of $1.5 million, or approximately 12 percent from the year ago period.

Earnings Call and Webcast

A conference call has been scheduled for Thursday, February 21, 2013, at 11:00 a.m. Eastern Time to discuss fourth quarter and full year 2012 results and current operations. The call may be accessed by dialing 888-510-1786 or 719-325-2429. A replay will be available through February 28, 2013 by dialing 877-870-5176 or 858-384-5517 pass code 4310532.

Forward-Looking Statements

This press release contains various "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, and Origen intends that such forward-looking statements will be subject to the safe harbors created thereby. The words "will," "may," "could," "expect," "anticipate," "believes," "intends," "should," "plans," "estimates," "approximate" and similar expressions identify these forward-looking statements. These forward-looking statements reflect Origen's current views with respect to future events and financial performance, but involve known and unknown risks and uncertainties, both general and specific to the matters discussed in this press release. These risks and uncertainties may cause Origen's actual results to be materially different from any future results expressed or implied by such forward-looking statements. Such risks and uncertainties include, among others, the foregoing assumptions and those risks referenced under the headings entitled "Factors That May Affect Future Results" or "Risk Factors" contained in Origen's filings. The forward-looking statements contained in this press release speak only as of the date hereof and Origen expressly disclaims any obligation to provide public updates, revisions or amendments to any forward- looking statements made herein to reflect changes in Origen's expectations or future events.

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.
👍️0
Immie Immie 11 years ago
flem you still watching this?
👍️0
flemsnopes flemsnopes 16 years ago
Origen Financial Announces Third Quarter 2007 Results; Declares Dividend of $0.09 Per Share





SOUTHFIELD, Mich., Nov. 7 /PRNewswire-FirstCall/ -- Origen Financial, Inc. (NASDAQ:ORGN), a real estate investment trust that originates and services manufactured housing loans, today announced net income of $2.8 million, or $0.11 per share, for the quarter ended September 30, 2007, compared with net income of $1.8 million, or $0.07 per share, for the quarter ended September 30, 2006, an increase of 56 percent. Origen's Board of Directors declared a dividend payment for the third quarter of $0.09 per share to be paid to holders of Origen's common stock of record on November 19, 2007. The dividend will be paid on November 30, 2007, and will approximate $2.3 million. The Board of Directors takes into consideration the differences between net income as determined by Generally Accepted Accounting Principles ("GAAP") and estimated REIT taxable net income in the determination of dividend payments.

Highlights for Quarter

Loan origination volume increased 31 percent to $92.8 million versus a year ago.

-- Loans processed for third parties totaled $31.1 million for the quarter, an increase of 98 percent over the third quarter 2006.

-- Total revenue increased 26 percent to $29.3 million versus $23.2 million for the prior year quarter.

-- Non-performing loans as a percent of average outstanding loan principal balances decreased to 0.5 percent from 0.6 percent at September 30, 2006.

-- A $15 million financing was completed consisting of a $10 million one-year note and a $5 million one-year note convertible into common shares of Origen stock at $6.24 per share. Each note bears interest of 8 percent per year and five year warrants were issued to the lender, an affiliate of one of Origen's principal shareholders, to purchase 500,000 shares of Origen common stock at an exercise price of $6.16.


Financial Highlights -- Interest income was $23.7 million for the third quarter 2007, an increase of 26 percent, primarily due to a 28 percent increase over the same period a year ago in the average owned loan portfolio.

Non-interest income increased 27 percent over the prior year's third quarter to $5.6 million.

-- Interest expense for the third quarter 2007 increased 36 percent to $15.6 million from $11.5 million for last year's third quarter as a result of increased borrowings relating to loan originations, as well as increases in the LIBOR benchmark rate on Origen's warehouse line of credit.

-- The provision for credit losses was $2.2 million for the third quarter 2007 compared with $1.6 million for the same quarter 2006, an increase of 38 percent. The provision for the 2006 quarter was favorably impacted by a reduction of approximately $600,000 in the portion of the loan loss allowance initially established in year 2005 to recognize the impact of estimated damage by hurricanes Rita and Katrina. No such reduction occurred in the 2007 quarter. Absent the 2006 quarter benefit, the 2007 quarter would have reflected no increase in provision by comparison. As a percentage of average outstanding loan principal balances, total net charge-offs, on an annualized basis, decreased to 0.7 percent for the 2007 quarter as compared to 0.9 percent for the 2006 quarter.

-- Third quarter 2007 non-interest expenses were $8.7 million, a 4 percent increase compared with $8.4 million for the year ago quarter. Most of the $0.3 million increase was personnel related, primarily attributable to accrued amounts relating to merit compensation.

-- At September 30, 2007, loans 60 or more days delinquent were 0.8 percent of the owned loan portfolio compared to 0.9 percent at both December 31, 2006, and September 30, 2006. Net charge-offs totaled $2.0 million for the third quarter 2007, unchanged from the third quarter 2006.


Events Subsequent to Quarter-end -- On October 16, 2007, Origen completed a $127 million securitization transaction, Manufactured Housing Contract Trust 2007-B, consisting of a single AAA rated floating rate class of asset-backed notes, which were sold to a qualified institutional buyer.



Ronald A. Klein, Origen's chief executive officer, stated, "We are very pleased with Origen's performance during the third quarter. During a period of extreme turmoil in credit markets, we increased our quarterly earnings more than 50 percent over the 2006 third quarter while maintaining, and even increasing, our already high credit standards. While the manufactured housing industry continues to struggle, with September shipments down 14 percent compared with September 2006, and year-to-date shipments down 22 percent from last year, we were able to increase our originations 30 percent over last year's third quarter. Also, our third party originations increased 98 percent over the year ago period. Most importantly, the credit performance of our loan portfolio continues to exceed our expectations with our 30+ delinquency for the quarter approximately 20 percent lower than our excellent levels of third quarter 2006."

Mr. Klein added, "Like most other financial businesses, we have been impacted by the global credit and liquidity crunch generally attributed to sub-prime mortgage defaults and foreclosures occasioned by falling housing values and lenient lending practices. The resulting tightening of credit criteria and withdrawal of liquidity by banks and other lenders has had a broad effect, impacting companies like Origen that had no direct exposure to sub-prime mortgage loans. We were subjected to margin calls and market value adjustments on our credit facilities despite our continued excellent loan performance. We met these margin calls and raised an additional $15 million of short-term capital to bolster our liquidity and strengthen our financial position. The ongoing uncertainty and credit stress in the housing and capital markets, and the resulting lack of liquidity, have caused credit spreads on all structured finance products to widen substantially, increasing our cost of funds beginning in September. We anticipate that credit spreads will remain at abnormally wide levels for an extended period of time. Despite the challenging conditions, the strong credit performance of our originated loans allowed us to execute a profitable securitization in October. Many lenders have been unsuccessful in accessing securitization markets, so we are extremely pleased that we were able to place all our bonds with a single, large institutional investor.

"We continued to see good performance in October. While we have tightened our credit requirements, and manufactured housing shipments remain depressed, our originations increased over last October. As we enter a period of tougher competition, along with tightened credit, we expect that our growth in originations will slow until we see meaningful increases in industry shipments. Our credit performance remained strong in October as we continue to see better than expected delinquency and default results."

Mr. Klein further stated, "Conditions in the credit markets continue to be highly volatile, uncertain and beyond our control. We are continuously working to improve our capital position to allow us to meet these market challenges and we will act on opportunities to raise capital that are consistent with maximizing our shareholders' value. We continue to focus on originating high quality loans. It is worth re-emphasizing that we only make fixed rate, fully documented and fully verified loans that provide value to our customers. We publish the performance of all our securitized loans, with loan level detail, on our website every month. We believe our transparency and dedication to sound lending practices have contributed to our ability to outperform in very difficult market conditions. We continue to work hard every day to maintain and further this success."


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