Daytrading, Eminis, Forex trading, Swing Trading TOP STORY - 470541

On an adjusted basis, profit grew 57.2% over the previous year. Meanwhile, the company updated its earnings outlook for 2007.

The Omaha, Nebraska-based TD Ameritrade reported net income of $128.11 million, up 35.7% from $94.

39 million, whereas earnings declined 8.7% to $0.21 per share from $0.

23 in the same quarter last year due to higher share count. The latest quarter results included amortization of acquired intangible assets of $13.82 million, interest on borrowings of $33.

63 million, which were partly offset by gains from sale of investments of $2.58 million and income tax resolution of $17.17 million.

In comparison, the prior year quarter's results were impacted by amortization charges of $3.67 million, interest on borrowings of $463 thousand, fair value of adjustments of investment of $3.51 million, which were partially offset by income tax adjustments of $2.

94 million. Excluding special items, the company revealed 55.2% jump in net income to $155.

81 million from $99.09 million and earnings rose 4.2% to $0.

25 per share from $0.24 in the year-ago quarter. Twelve analysts, on average, surveyed by First Call/Thomson Financial have consensus earnings estimate of $0.

22 per share. Total revenues climbed 78.2% to $488.

7 million from $274.3 million in the previous year quarter. Seven Wall Street analysts expected the company to report revenues of $505.

25 million. Net interest revenue jumped 55.8% to $195.

78 million from $125.68 million in the comparable 2005 period. Of this, commissions and transaction fees accounted for $163.

04 million, up from $129.39 million in the corresponding period last year. While interest revenue grew 74% to $302.

6 million from $173.55 million, brokerage interest expenses more than doubled to $106.78 million from $47.

87 million in the prior year quarter. Total asset-based revenues climbed 138% to $316.38 million from $132.

89 million in the same quarter 2005. Of this, revenue from money market deposit account fees were $70.66 million and money market and other mutual fund fees contribution vaulted to $49.

93 million from $7.2 million in the year-ago quarter. Total expenses jumped 142.

6% to $289.57 million from $119.37 million in the previous year quarter as expenses for employee compensation and benefits, clearing and execution, communications, occupancy and equipment, depreciation and amortization more than doubled from the prior year quarter.

TD Ameritrade's total trades in trading activity grew to 12.8 million from 9.9 million, but average commissions and transaction fees per trade declined to $12.

76 from $13.01. Similarly, average client trades per day increased to 204,480 from 146,254 and average client trades per account, on an annualized basis, were 8.

3, down from 10.1 in the same quarter last year. Trading days too fell to 62.

5 from 68 in the year earlier. The company disclosed that about 96,000 new accounts at an average cost per account of $361 were opened, while 44,000 accounts were closed during the quarter. Client assets at the end of the quarter were $261.

7 billion, which includes $38.1 billion of client cash and money market funds. TD Ameritrade has about liquid assets of $505 million, cash and cash equivalents of $364 million.

The company's operating margin dropped to $47.8% from 65.1% in the previous year quarter.

Commenting on the results, the company's chief executive officer, Joe Moglia, said, "Everything we do in the next year will be based on successfully completing the integration and positioning our franchise for long-term success. We will be relentless in driving down costs, stimulating organic growth and becoming a more sales-focused organization. Our vision is that TD AMERITRADE will become the choice destination for retail investors.

" Ameritrade reported net income of $139.8 million or $0.23 per share for the third quarter, up from $83.

6 million or $0.20 per share for the same quarter last year. Number of shares was 620 million compared to 411 million for the year-earlier quarter.

Excluding special items, the company posted non-GAAP net income of $168.9 million or $0.27 per share, compared to $77.

1 million or $0.19 per share in the corresponding quarter previous year. The provider of investment products posted revenues of $540.

3 million, which increased 130% from a year-earlier figure of $234.4 million. For the fiscal year, the company reported net income of $526.

76 million or $0.95 per share, up from $339.75 million or $0.

82 per share in the corresponding period last year. Excluding special items, on a non-GAAP basis, net income grew to $567.3 million or $1.

02 per share from $344.39 million or $0.83 per share in the comparable 2005 period.

Eleven analysts expected TD Ameritrade to report earnings of $0.89 per share. Net revenues climbed 80% to $1.

8 billion from $1 billion in the same period previous year. Nine Wall Street analysts have consensus revenue estimate of $1.83 billion.

Going forward, the company currently expects its fiscal year 2007 earnings to be $0.98-$1.22 per share compared to $0.

99-$1.21 projected earlier. Twelve Street analysts are looking for earnings of $1.

20 per share. Among others in the industry, the New York City based E*Trade Financial Corp. ( | | | ) revealed third quarter net income of $153 million or $0.

35 per share, up from $107 million or $0.28 per share in the prior year quarter. Excluding acquisition-related integration expenses, earnings were $0.

36 per share. On average, twelve analysts polled by First Call/Thomson Financial expected the company to earn $0.36 per share for the quarter.

Net income from continuing operations was $150.23 million, up from $109.14 million in the same quarter a year ago.

Earnings from continuing operations, on a per share basis, were $0.34, compared to $0.29 in the earlier year quarter.

Total net revenues for the quarter rose 39% to $582.77 million from $419.84 million in the year ago period.

Wall Street analysts estimated the company to post revenues of $594.96 million for the quarter. Another peer, the San Francisco, California based Charles Schwab Corp.

( | | | ) reported third quarter net income of $266 million, up 29% from $207 million a year ago. On a per share basis, earnings were up 31% to $0.21 from $0.

16 per share in the prior year quarter. Net revenues were $1.29 billion, up 13% from $1.

14 billion in the in the similar quarter of the previous year. Shares of Ameritrade reached a 52-week high of $26.37 and a low of $13.

30. During the day, the stock ranged $15.80 and $16.

23. Currently, shares of the company are trading 64 cents or 3.86% down at $15.

99 on a volume of 7.789 million shares.