Now we know why...Watley losing assets and customers by the truckload:
For the second quarter of fiscal year 2001, the breakdown of the Company's revenues for its three product lines: UltimateTrader®, WatleyTrader(TM) and the Institutional Sales and Trading desk are as follows: UltimateTrader net revenue declined 60% as compared to the prior year, contributing $4,053,355 in revenue. WatleyTrader generated $544,615 in revenue, a decrease of 10%, and the Institutional Sales and Trading desk generated $2,089,413, an increase of .9% from the quarter ended March 31, 2000.
The Company experienced account growth during the twelve-month period ended March 31, 2001 of 59%, with total funded customer accounts growing to 12,415. Total accounts declined .1% compared to the first quarter ended December 31, 2000. The breakout of accounts on the two distinctive trading platforms is as follows: 4,438 UltimateTrader accounts, a decrease of 10% from the prior year, and 7,977 WatleyTrader accounts, an increase of 177.6% from the prior year.
Total customer assets decreased 51.2% to approximately $212.2 million compared to the second quarter of fiscal 2000 and a 20.3% decline compared to the first quarter of fiscal 2001 |
