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- Improved Advisor Productivity and Market Conditions Lift Assets to $394 Billion Leading to Record Revenue of $975 Million -
- Board of Directors Approves Quarterly Dividend of $0.135 Per Share -
BOSTON, April 25, 2013 (GLOBE NEWSWIRE) -- LPL Financial Holdings Inc. (Nasdaq:LPLA) (the "Company"), parent company of LPL Financial LLC ("LPL Financial"), today announced net revenue of $974.8 million for the first quarter of 2013, up 8.1% compared to first quarter 2012 net revenue of $901.8 million.
Three Months Ended March 31,
Financial Highlights (unaudited)
(dollars in thousands, except per share data)
Earnings Per Share — diluted
Adjusted Earnings Per Share
A full reconciliation of GAAP measures to non-GAAP measures, along with an explanation of these metrics, follows later in this release.
"Our positive financial performance in the first quarter was a direct reflection of the hard work of our advisors to position their clients as market conditions improved," stated Mark Casady, chairman and CEO of LPL Financial. "Strong advisor productivity, rising markets and the accelerating production of advisors added in the last twelve months supported our revenue growth of 8%. Our results this quarter underscore our ability to improve our profit margins when we experience gains in advisor productivity and manage our expense base."