Broadridge Reports First Quarter Fiscal Year 2017 Results

LAKE SUCCESS, N.Y., Nov. 09, 2016 (GLOBE NEWSWIRE) -- Broadridge Financial Solutions, Inc. (NYSE:BR) today reported financial results for the first quarter ended September 30, 2016 of its fiscal year 2017.
         
        First Quarter %
Summary Financial Results     2017     2016   Change
Dollars in millions, except per share data        
           
Total revenues   $ 895     $ 595       51 %
Recurring fee revenues     517       393       32 %
           
Operating income     66       59       12 %
  Operating income margin     7.4 %     9.9 %    
           
Adjusted operating income - Non-GAAP     82       68       19 %
  Adjusted operating income margin - Non-GAAP     9.1 %     11.5 %    
           
Diluted EPS   $ 0.28     $ 0.28       %
Adjusted EPS - Non-GAAP   $ 0.36     $ 0.33       9 %
           
Closed sales   $ 22     $ 17       26 %
                         

"Broadridge delivered a solid first quarter," said Richard J. Daly, Broadridge's President and Chief Executive Officer. "We reported strong revenue growth, largely driven by the acquisition of NACC, and continued strong momentum in Closed sales. We also took steps to strengthen our leadership position over the medium- and long-term by investing in blockchain technology for our proxy business and by executing on the digital strategy for our Investor Communication Solutions segment."

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