Financial Engines Reports Third Quarter 2016 Financial Results

Financial Engines (NASDAQ:FNGN), America's largest independent investment advisor i, today reported financial results for its third quarter ended September 30, 2016.

Financial results for the third quarter of 2016 compared to the third quarter of 2015: ii
  • Revenue increased 43% to $112.4 million for the third quarter of 2016 from $78.8 million for the third quarter of 2015.
  • Professional management revenue increased 46% to $102.6 million for the third quarter of 2016 from $70.2 million for the third quarter of 2015.
  • Net income decreased 16% to $7.1 million for the third quarter of 2016 from $8.5 million for the third quarter of 2015.
  • Diluted earnings per share decreased 31% to $0.11 per share for the third quarter of 2016 from $0.16 per share for the third quarter of 2015.
  • Non-GAAP adjusted EBITDA ii increased 45% to $36.3 million for the third quarter of 2016 from $25.1 million for the third quarter of 2015.
  • Non-GAAP adjusted net income ii increased 56% to $19.4 million for the third quarter of 2016 from $12.5 million for the third quarter of 2015.
  • Non-GAAP adjusted earnings per share ii increased 29% to $0.31 for the third quarter of 2016 from $0.24 for the third quarter of 2015.

Key operating metrics as of September 30, 2016: iii
  • Assets under contract ("AUC") were $1.04 trillion.
  • Assets under management ("AUM") were $134.4 billion.
  • Professional management clients were over 992,000.
  • Asset enrollment rates across all employer plans was 11.9% iv.

"Financial Engines is in a strong position and focused on helping millions of everyday Americans achieve their financial goals. The acquisition of The Mutual Fund Store earlier this year enables us to accelerate this effort by bringing a broader product offering to our clients,"said Larry Raffone, president and chief executive officer of Financial Engines. "By delivering personalized comprehensive financial services that historically only affluent investors could access, we are fulfilling our mission to serve those that need help the most while continuing to grow as a company."

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