Financial Engines Reports Second Quarter 2012 Financial Results

Financial Engines (NASDAQ: FNGN), the leading independent provider of investment management and advice to employees in retirement plans, today reported financial results for its second quarter ended June 30, 2012.

Financial results for the second quarter of 2012 compared to the second quarter of 2011: i
  • Revenue increased 26% to $44.3 million for the second quarter of 2012 from $35.3 million for the second quarter of 2011.
  • Professional management revenue increased 33% to $35.2 million for the second quarter of 2012 from $26.5 million for the second quarter of 2011.
  • Net income was $3.8 million, or $0.08 per diluted share, for the second quarter of 2012 compared to $3.5 million, or $0.07 per diluted share, for the second quarter of 2011.
  • Non-GAAP Adjusted EBITDA i increased 31% to $12.3 million for the second quarter of 2012 from $9.4 million for the second quarter of 2011.
  • Non-GAAP Adjusted Net Income i increased 27% to $5.4 million for the second quarter of 2012 from $4.2 million for the second quarter of 2011.
  • Non-GAAP Adjusted Earnings Per Share i increased 22% to $0.11 for the second quarter of 2012 from $0.09 for the second quarter of 2011.

Key operating metrics as of June 30, 2012: ii
  • Assets under contract (“AUC”) were $536 billion.
  • Assets under management (“AUM”) were $54.2 billion.
  • Members in Professional Management were 610,000.
  • Asset enrollment rates for companies where services have been available for 26 months or more averaged 12.5% iii.

“We continue to see strong growth in our business and are focused on creating a compelling customer experience so that more employees can achieve a secure retirement,” said Jeff Maggioncalda, president and chief executive officer of Financial Engines. “By broadening the scope of our retirement advisory services, we can do a better job helping those who need it the most.”

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