OMAHA, Nebraska, April 14, 1999 -- Ameritrade Holding
Corporation [Nasdaq: AMTD] today reported record net
income of $8.1 million, or $0.14 per share, in the second
quarter of fiscal 1999, compared to a net loss of
$0.3 million, or $0.00 per share, in the second quarter of
fiscal 1998.
Ameritrade also reported record net revenues of
$63.7 million for the second quarter of fiscal 1999, a 112
percent increase over the second quarter of fiscal 1998,
and a 22 percent sequential increase over the first quarter
of fiscal 1999. The sequential revenue increase was
achieved despite having nine fewer trading days in the
second quarter as compared to the first quarter of fiscal
1999.
The Company opened a record 82,000 new accounts in the
second quarter of fiscal 1999 as individual investors
enthusiastically embraced the Ameritrade message.
"We are very proud of our second quarter results," said
J. Joe Ricketts, Chairman and Co-Chief Executive Officer.
"The market has been terrific, and we are positioned
beautifully to seize the opportunity. We achieved record
results in virtually every key operating and financial metric
this quarter. We have demonstrated that Ameritrade is the
online broker of choice."
Advertising expenditures were $13.2 million in the second
quarter of 1999, compared to $9.6 million in the second
quarter of fiscal 1998. Pre-advertising net income before
taxes (NIBT) totaled $25.8 million in the second quarter of
fiscal 1999, a 177 percent increase over the second
quarter of fiscal 1998 and a 66 percent sequential increase
over the first quarter of fiscal 1999. |
