Ameritrade Reports New Accounts and Average Trades Per Day for May; Company Updates its Outlook Statement.Business Editors OMAHA Omaha, city, United States Omaha (ō`məhä, –hô), city (1990 pop. 335,795), seat of Douglas co., E Nebr., on the west bank of the Missouri River; inc. 1857. , Neb.--(BUSINESS WIRE)--June 14, 2002 Ameritrade Holding Corporation (Nasdaq:AMTD AMTD Arithmetic Mean Temperature Difference AMTD Automatic Magnetic Tape Distribution AMTD Affordability and Manufacturing Technology Demonstration ) today reported continuing growth in its core online brokerage business. The Company opened 25,000 new accounts(a) during May for a total of 1,909,000, with an average daily volume of 74,000 trades. Outlook Ameritrade has updated its guidance for the third and fourth quarters of fiscal year 2002 in the "Outlook Statement" section of its corporate Web site located at www.amtd.com. The activity rate is expected to range from 3.5% to 4.0% and from 3.3% to 3.8% for the third and fourth fiscal quarters, respectively. Net revenues are expected to range from $95 million to $110 million and from $81 million to $105 million for the third and fourth fiscal quarters, respectively. Total operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. are expected to range from $72 million to $82 million for both the third and fourth fiscal quarters. Earnings per share are expected to range from $0.02 to $0.04 and from $0.00 to $0.03 for the third and fourth fiscal quarters, respectively. All projections are for Ameritrade only and do not include the impact of the merger with Datek Online Holdings Corp. Keynote keynote /key·note/ (ke´not) in homeopathy, the characteristic property of a drug that indicates its use in treating a similar symptom of disease. Results The Keynote Web Broker Trading Index (www.keynote.com) shows the average response times and success rates for creating a standard stock-order transaction on selected online brokerage sites. For the month of May, Ameritrade, Inc.(b) achieved the best average time for transaction performance, as measured by the Keynote Web Broker Trading Index with transaction speed nearly twice as fast as the index average. About Ameritrade Holding Corporation Ameritrade Holding Corporation (www.amtd.com) is a pioneer in the online brokerage industry with a 27-year history of providing clients a self-directed self-di·rect·ed adj. Directed or guided by oneself, especially as an independent agent: the self-directed study of a language. self approach to investment services. The award-winning Adj. 1. award-winning - having received awards; "this award-winning bridge spans a distance of five miles" Company, through its Private Client and Institutional Client divisions, provides tiered levels of brokerage products and services tailored to meet the varying investing, trading and execution needs of individual investors, financial institutions and corporations. (a) Ameritrade reports "new" accounts upon client funding of an account. Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. This release contains forward-looking statements that are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions for forward-looking statements in the federal securities laws. In particular, all statements regarding our future activity rates, net revenues, total operating expenses and earnings per share are forward-looking statements. These statements only reflect the Company's current expectations and are not guarantees of performance. These statements involve risks, uncertainties and assumptions that could cause actual results, performance or achievements to differ materially from those in the forward-looking statements. Important factors that could cause the Company's actual results to be materially different from its expectations include general economic and political conditions, volatility in the stock market, competition, systems failures and capacity constraints CONSTRAINTS - A language for solving constraints using value inference. ["CONSTRAINTS: A Language for Expressing Almost-Hierarchical Descriptions", G.J. Sussman et al, Artif Intell 14(1):1-39 (Aug 1980)]. , regulatory and legal uncertainties and other risks disclosed in the Company's most recent Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. filed with the Securities and Exchange Commission. These forward-looking statements speak only as of the date on which the statements were made. The Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise. INVESTORS ARE URGED TO READ THE JOINT PROXY STATEMENT/PROSPECTUS INCLUDED IN THE ARROW STOCK HOLDING CORPORATION REGISTRATION STATEMENT ON FORM S-4 (REGISTRATION NO. 333-88632) CONCERNING THE MERGER OF AMERITRADE HOLDING CORPORATION AND DATEK ONLINE HOLDINGS CORP. FILED WITH THE SECURITIES AND EXCHANGE COMMISSION BECAUSE IT CONTAINS IMPORTANT INFORMATION. INVESTORS MAY OBTAIN THIS DOCUMENT FOR FREE FROM THE COMMISSION'S WEB SITE AT WWW.SEC.GOV OR FROM AMERITRADE BY CONTACTING ITS INVESTOR RELATIONS Investor relations The process by which the corporation communicates with its investors. DEPARTMENT AT 402-331-7856. (b) Ameritrade, Inc., member NASD/SIPC, is a subsidiary of Ameritrade Holding Corporation. Market volatility and volume may delay system access and trade executions. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion