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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: Jenna who wrote (21874)	1/12/1999 8:57:00 PM
From: Teri Garner	Respond to of 120523

NITE reported 'record' results on 10/21/98. Given the recent explosion in online trading & their leadership position, one could expect blow-out #'s next week. Robbie Stephens issued a very bullish report today, we could see high 70's soon. Wednesday October 21, 8:32 am Eastern Time Company Press Release SOURCE: Knight/Trimark Group, Inc. Knight/Trimark Group Reports Record Third Quarter 1998 Results EPS of $0.25 Driven by Increased Volume and Record Revenues JERSEY CITY, N.J., Oct. 21 /PRNewswire/ -- Knight/Trimark Group, Inc. (Nasdaq: NITE - news) today reported record financial results for the third quarter and nine months ended September 30, 1998. Knight/Trimark is a leading market maker in both Nasdaq securities and the over-the-counter market for New York Stock Exchange (NYSE)- and American Stock Exchange (Amex)-listed equity securities -- the Third Market. Third Quarter 1998 vs. Third Quarter 1997 58% growth in revenues 69% growth in net income(1) First Nine Months of 1998 vs. First Nine Months of 1997 48% growth in revenues 77% growth in net income(1) Revenues for the 1998 third quarter rose 58% to $92.4 million, compared to $58.6 million for the third quarter of 1997. Net income(1) for the third quarter of 1998 totaled $13.2 million, or $0.25 per basic and diluted share, a 69% increase from $7.8 million, or $0.15 per basic and diluted share for the same period a year ago. Return on equity for the third quarter of 1998, stated on an annualized basis, was 31%; and the Company achieved pre-tax margins of 25%. The number of shares used in the pro forma basic and diluted calculations for the third quarters of 1998 and 1997 was 52,554,882 shares and 51,504,882 shares, respectively. The 52,554,882 shares used to calculate 1998 earnings per share reflects the weighted average shares outstanding subsequent to the Company's reorganization and initial public offering in July 1998. Year-to-date revenues increased 48% to $236.5 million from $159.6 million for the first nine months of 1997. Net income(1) for the nine months ended September 30, 1998, totaled $33.2 million, or $0.63 per basic and diluted share, a 77% increase from $18.8 million, or $0.36 per basic and diluted share, for the nine months ended September 30, 1997. The Company achieved pre-tax margins of 25% for the nine months ended September 30, 1998. In addition to the improvements in year-over-year results, the Company also achieved sequential quarterly gains as revenues for the quarter ended September 30, 1998 rose 15% and net income(1) increased 13% over the quarter ended June 30, 1998. Kenneth D. Pasternak, President and Chief Executive Officer of Knight/Trimark Group, commented on the results, ''We are pleased to have met each of our financial and operational objectives during the third quarter, posting solid year-over-year increases in revenues, profits and earnings per share while growing market share and increasing margins. The substantial increases we've achieved in net trading revenue demonstrate Knight/Trimark's expertise in executing our innovative, value-added trading methodologies and taking advantage of our cutting-edge technological efficiencies during the recent volatile market conditions.'' Mr. Pasternak continued, ''As one of the most efficient and technologically advanced transaction processors, we are in the enviable position of having the ability to leverage Knight/Trimark's trading infrastructure to capitalize on increased trading volume.'' Knight/Trimark also reported that trades executed during the quarter ended September 30, 1998, increased 89% to 10.5 million from 5.5 million for the comparable period a year ago. Shares traded during the third quarter of 1998 rose 88% to 9.5 billion from 5.0 billion during the third quarter of 1997. Average daily net trading revenue for the third quarter of 1998 grew 53% to $1.4 million from $918,000 for the comparable 1997 period. biz.yahoo.com