highlights from letter to EGRP shareholders by CEO Christos Cotsakos:
* "76 PERCENT GROWTH IN EARNINGS BEFORE MARKETING and
as we continue to invest in our phenomenal brand, the strength of our core business continues to accelerate. Pre-tax income before marketing was $210 million in 1999, rising 76 percent over 1998 as our investment in the blue-chip E*TRADE© brand already began paying off, fueling the growth of our business."
* "$52 MILLION IN DEPOSITS EVERY BUSINESS DAY up from an
average of $20 million in the prior year. We now have a total of $28 billion in customer assets, up 154 percent from a year ago."
* "50 PERCENT INCREASE in share of market as measured by online trades per day from 10 percent of the market to 15 percent during the fiscal year."
* "4TH TOP E-COMMERCE BRAND, according to the Opinion Research Corporation Internet Brand Study. E*TRADE© follows only Amazon.com, eBay and Priceline.com in the study."
* "We set up a Strategic Venture Fund that invests in technology and internet companies, and which is already up 1300 percent since we launched it earlier this year."
* "A FUTURE OF SERVING CUSTOMERS ANYTIME, ANYWHERE, FROM
ANY DEVICE.
Can you plan for the future? Nobody could have planned for the future we call "today." But you can plan to be ready for whatever the future brings. That's why E*TRADE© is implementing a global electronic strategy to democratize financial services:
We were one of the first to recognize the importance of Electronic Communications Networks (ECNs) and, along with Goldman Sachs, were the initial investors in Archipelago, an ECN for Nasdaq stocks.
Other industry leaders have since purchased stakes in Archipelago, validating our early investment. Through Archipelago we'll offer expanded access and investment opportunities to our retail and institutional customers in a global, networked market.
We're taking the revolution to a new level with Digital Financial Media (DFM), a new strategic model that's creating the world's first global electronic financial network. Through this network E*TRADE© will reach out and connect with individual investors in ways that fully integrate with their lifestyles and personal interests. We plan to deliver interactive multimedia content and commerce to consumers over a variety of broadband communications channels and electronic platforms from PCs and cellular phones to digital TV and wireless personal digital assistants."
* "In the year ahead, we'll continue to pursue our global strategy of giving investors the information, tools and access they need to invest in international markets, from any place, at any time through any device. Our aim is to let investors trade stocks on any exchange from their own domestic location in whatever currency they choose.
E*TRADE's acquisition of TIR Holdings(TM), an international leader in global multi-currency securities execution and settlement services and a top provider of independent research with more than 600 institutional clients worldwide will help us accelerate the creation of the first global cross-border trading network for online investors."
* "Bodacious! The revolution continues." |
