Financial Engines Reports Third Quarter 2012 Financial Results

Financial Engines (NASDAQ: FNGN), America’s largest independent registered investment advisor, today reported financial results for its third quarter ended September 30, 2012.

Financial results for the third quarter of 2012 compared to the third quarter of 2011: i
  • Revenue increased 36% to $48.4 million for the third quarter of 2012 from $35.7 million for the third quarter of 2011.
  • Professional management revenue increased 50% to $39.6 million for the third quarter of 2012 from $26.3 million for the third quarter of 2011.
  • Net income was $4.8 million, or $0.10 per diluted share, for the third quarter of 2012 compared to $3.4 million, or $0.07 per diluted share, for the third quarter of 2011.
  • Non-GAAP Adjusted EBITDA i increased 47% to $14.3 million for the third quarter of 2012 from $9.7 million for the third quarter of 2011.
  • Non-GAAP Adjusted Net Income i increased 51% to $6.3 million for the third quarter of 2012 from $4.2 million for the third quarter of 2011.
  • Non-GAAP Adjusted Earnings Per Share i increased 63% to $0.13 for the third quarter of 2012 from $0.08 for the third quarter of 2011.

Key operating metrics as of September 30, 2012: ii
  • Assets under contract (“AUC”) were $560 billion.
  • Assets under management (“AUM”) were $61.5 billion.
  • Members in Professional Management were over 648,000.
  • Asset enrollment rates for companies where services have been available for 26 months or more averaged 12.7% iii and an estimated 12.6% had AUC been marked-to-market at the end of the third quarter of 2012.

“Baby Boomers are facing a new kind of retirement, with decisions that are more complex and a world that is more uncertain than the generation that preceded them,” said Jeff Maggioncalda, president and chief executive officer of Financial Engines. “We have designed Income+ to provide safe and flexible retirement spending and now have more than 50 signed contracts representing $79 billion in retirement assets and over 900,000 employees.”

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