Investors Capital Holdings, Ltd. (NYSE Amex: ICH), a financial services holding company, posted first quarter total revenues of $20.94 million for the period ended June 30, 2010 (“the quarter”) compared to total revenues of $18.61 million for the prior period (quarter ended June 30, 2009). The firm posted a net loss for the quarter of $0.01 million compared to net income of $0.05 million for the prior period. Adjusted EBITDA was $0.11 million for the quarter compared to $0.54 million for the prior period. Adjusted EBITDA, described below, is a key metric utilized by the firm in evaluating its financial performance. Total revenue increased $2.3 million, or 12.5%, to $20.94 million, reflecting a rebound in investor confidence since the low point of the recent recession. Commission revenue, which accounts for 81.2% of total revenue, increased 8.2% to $16.99 million. Advisory fees, which account for 16.3% of total revenue jumped 40.4% to $3.41 million. The rise in the Company’s advisory revenue reflects an increase in assets under management due to rising markets and additional investor contributions. Advisory services are delivered through Investors Capital Advisory Services (ICA), the investment advisory division of Investors Capital Corporation (ICC), ICH’s wholly-owned broker-dealer and registered investment advisor subsidiary. Investors Capital continues to benefit from improving the overall quality of its registered representatives, a key component of its strategy for achieving growth in revenues and net income. The firm seeks to improve the quality of its representatives by helping them grow their practices, terminating representatives with low-production or quality of services, and recruiting more established, higher-quality representatives. The firm’s average revenue per representative, based on a rolling 12-month period, rose in the first quarter to $139,587, an increase of 17% over $119,270 for the prior period. Investors Capital’s net capital position remained stable at $3.27 million for the quarter (an excess of $2.87 million) with a net capital ratio of 1.82 to 1. The SEC Uniform Net Capital Rule (Rule 15c3-1) requires that ICC maintain net capital of $100,000 and a ratio of specified aggregate indebtedness to net capital (a “net capital ratio”) not to exceed 15 to 1.