- Fourth consecutive year of growing net revenues with record $4.1 billion - - Advisory and Brokerage Assets grow 17% for the year to $438 billion - - Net new advisors grew by 321 for the year - - Quarterly dividend raised 26% to $0.24 per share -
BOSTON, Feb. 11, 2014 (GLOBE NEWSWIRE) -- LPL Financial Holdings Inc. (Nasdaq:LPLA) (the "Company"), parent company of LPL Financial LLC ("LPL Financial"), today announced net revenue of $1,093.9 million for the fourth quarter of 2013, up 15.9% compared to net revenue of $944.2 million in the fourth quarter of 2012. Net revenue for the year ended December 31, 2013 was $4,140.9 million, an increase of 13.1% compared to 2012.
|Three Months Ended December 31,||Year Ended December 31,|
|2013||2012||% Change||2013||2012||% Change|
|Financial Highlights (unaudited)||(dollars in thousands, except per share data )|
|Earnings Per Share — diluted||$0.43||$0.34||26.5%||$1.72||$1.37||25.5%|
|Adjusted Earnings Per Share||$0.63||$0.50||26.0%||$2.44||$2.03||20.2%|
|A full reconciliation of GAAP measures to non-GAAP measures, along with an explanation of these metrics, follows later in this release.|
"For the fourth straight year LPL Financial increased revenue, generating 13% growth year-over-year to a record $4.1 billion," stated Mark Casady, chairman and CEO of LPL Financial. "Revenue growth was driven by advisor productivity and investor engagement, which for the first time since the market break in 2008 were sustained over the course of a full year, as well as by strong market appreciation. Adjusted earnings per share grew for a fifth consecutive year, up 20% to a record $2.44 per share. Adjusted earnings per share benefited from strong growth in operating profits and our decision to repurchase 5.8 million shares during 2013, despite pressure from the low interest rate environment and $5 million in incremental share-based compensation for our advisor stock program that was marked to market due to our share price appreciation."
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