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Financial Engines Reports First Quarter 2012 Financial Results

Stocks in this article: FNGN

Financial Engines (NASDAQ: FNGN), the leading independent provider of investment management and advice to employees in retirement plans, today reported financial results for its first quarter ended March 31, 2012.

Financial results for the first quarter of 2012 compared to the first quarter of 2011: i

  • Revenue increased 29% to $41.7 million for the first quarter of 2012 from $32.3 million for the first quarter of 2011.
  • Professional management revenue increased 38% to $32.9 million for the first quarter of 2012 from $23.9 million for the first quarter of 2011.
  • Net income was $3.5 million, or $0.07 per diluted share, for the first quarter of 2012 compared to $2.6 million, or $0.05 per diluted share, for the first quarter of 2011.
  • Non-GAAP Adjusted EBITDA i increased 54% to $11.7 million for the first quarter of 2012 from $7.6 million for the first quarter of 2011.
  • Non-GAAP Adjusted Net Income i increased 50% to $5.0 million for the first quarter of 2012 from $3.4 million for the first quarter of 2011.
  • Non-GAAP Adjusted Earnings Per Share i increased 43% to $0.10 for the first quarter of 2012 from $0.07 for the first quarter of 2011.

Key operating metrics as of March 31, 2012: ii

  • Assets under contract (“AUC”) were $517 billion.
  • Assets under management (“AUM”) were $53.7 billion.
  • Members in Professional Management were 589,000.
  • Asset enrollment rates for companies where services have been available for 26 months or more averaged 12.8% iii.

“With Income+ live at J.P. Morgan, more of America’s employees have access to a retirement income solution designed to provide reliable income for life,” said Jeff Maggioncalda, president and chief executive officer of Financial Engines. “As approximately 78 million baby boomers move into retirement over the next two decades, our promise of Retirement Help for Life can help this generation achieve retirement security and drive the growth of our business.”

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