Investors Capital Holdings' Revenue Climbs Twenty Nine Percent In First Fiscal Quarter.LYNNFIELD Lynnfield, town (1990 pop. 11,274), Essex co., NE Mass.; inc. 1814. Primarily residential, Lynnfield is an important suburb of Boston. , Mass. -- Investors Capital Holdings, Ltd. (AMEX AMEX See: American Stock Exchange : ICH See Intel Hub Architecture. ) today announced that for the first fiscal quarter ended June June: see month. 30, 2006, total revenues increased by more than $4.4 million, or 29% percent to $19.6 million, as compared to revenues of $15.2 million for the comparative quarter ended June 30, 2005. Net loss for the first fiscal quarter ended June 30, 2006 was $597,622 or $0.10 per share, versus net income of $107,226 or $0.02 per share, from the comparative quarter ended June 30, 2005. Operating loss operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. for the first fiscal quarter was $1,033,417, as compared to operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. of $206,968 from the comparative quarter last year. "Our impressive first quarter revenue growth can be directly attributed to the talent of our registered representatives and the sales and marketing initiatives we have instituted to aid them in growing their independent practices," said Ted Charles, Chief Executive Officer and Chairman, Investors Capital Holdings, Ltd. "Despite a one-time stock award, which suppressed sup·press tr.v. sup·pressed, sup·press·ing, sup·press·es 1. To put an end to forcibly; subdue. 2. To curtail or prohibit the activities of. 3. our excellent revenue growth and impacted our operating and net income, we are confident the company will continue its impressive growth and improve its profit margin moving forward." Charles continued, "Our broker-dealer Broker-Dealer A person or firm in the business of buying and selling securities operating as both a broker and dealer depending on the transaction. Notes: Technically, a broker is only an agent who executes orders on behalf of clients, whereas a dealer acts as a principal , Investors Capital Corporation, benefited from a substantial increase in its securities and insurance business, while our investment advisor Investment Advisor 1. A person making investment recommendations in return for a flat fee or percentage of assets managed, known as a commission. 2. For mutual fund companies, it is the individual who has the day-to-day responsibility of investing and monitoring the cash and subsidiary, Investors Capital Advisory, continued to excel. We also continued to see sales growth across our investment centers in Massachusetts Massachusetts (măsəch  `sĭts), most populous of the New England states of the NE United States. , New Hampshire New Hampshire, one of the New England states of the NE United States. It is bordered by Massachusetts (S), Vermont, with the Connecticut R. forming the boundary (W), the Canadian province of Quebec (NW), and Maine and a short strip of the Atlantic Ocean (E). and
Florida."About Investors Capital Holdings Investors Capital Holdings (AMEX:ICH) of Lynnfield, MA is a diversified financial The diversified financial services segment includes a range of consumer and commercially-oriented companies offering a wide variety of products and services, including various lending products (such as home equity loans and credit cards), insurance, and securities and investment services company founded to meet consumer needs in today's financial markets. The company owns and operates Investors Capital Corporation, Investors Capital Advisory, Eastern Point Advisors and ICC ICC See: International Chamber of Commerce Insurance Agency, Inc. For more information, please call (800) 949-1422 or visit www.investorscapital.com. Certain statements contained in this press release, which are not historical fact, may be deemed to be 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. under federal securities laws. There are many important factors that could cause Investors Capital Holdings and its subsidiaries' actual results to differ materially from those indicated in the forward-looking statements. Such factors include, but are not limited to, general economic conditions, including interest rate risk, regulatory changes (legislative or otherwise) affecting the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. industry, competition, demand for Investors Capital Holdings and its subsidiaries' services, availability of funding, and other risks identified in Investors Capital Holdings' Securities and Exchange Commission filings. Investors Capital Corporation, Lynnfield, Massachusetts Lynnfield is a town in Essex County, Massachusetts, in the United States. As of the 2000 census, the town population was 11,542. History Lynnfield was first settled in 1638 and was made a district in 1782. It was later officially incorporated in 1842. , Distributor.
(Tables to Follow)
INVESTORS CAPITAL HOLDINGS, LTD. AND SUBSIDIARIES
=================================================
CONDENSED CONSOLIDATED BALANCE SHEETS
Periods Ended
June 30, 2006 March 31, 2006
-------------- --------------
Cash and Cash Equivalents $ 7,060,525 $ 7,718,682
Current and Other Assets 6,558,553 6,834,647
Property and Equipment, net 827,269 772,498
-------------- --------------
Total Assets $ 14,446,347 $ 15,325,827
============== ==============
Current Liabilities 4,051,456 4,739,744
Total Liabilities 4,051,456 4,739,744
Total Stockholders' Equity 10,394,881 10,586,083
-------------- --------------
Total Liabilities and Stockholders'
Equity $ 14,446,337 $ 15,325,827
============== ==============
INVESTORS CAPITAL HOLDINGS, LTD. AND SUBSIDIARIES
=================================================
CONDENSED CONSOLIDATED STATEMENTS OF
INCOME
Quarters Ended
June 30, 2006 June 30, 2005
------------- -------------
Revenues
Commission $ 17,458,902 $ 13,368,068
Advisory Fees 1,568,429 1,155,982
Other Fee Income 66,397 103,438
Other Income and Marketing 508,444 565,748
------------- -------------
Total Revenue 19,602,172 15,193,236
Commission and advisory fees 15,815,220 11,982,282
------------- -------------
Gross Profit 3,786,952 3,210,954
Operating Expenses:
Advertising 269,627 242,607
Communications 65,767 155,508
------------- -------------
Total Selling Expenses 335,394 398,115
Compensation and Benefits 2,716,025 1,735,128
Regulatory, Legal and Professional 1,202,340 473,144
Occupancy 234,006 154,091
Other Administrative Expenses 332,604 243,508
------------- -------------
Total Administrative Expenses 4,484,975 2,605,871
Total Operating Expenses 4,820,369 3,003,986
Operating (Loss) income (1,033,417) 206,968
Other expense: 8,032 3,334
Net (Loss) income before taxes (1,041,449) 203,634
Benefit (Provision) for income taxes 443,827 (96,408)
Net (Loss) income (597,622) 107,226
Basic earnings per common share $ (0.10) $ 0.02
Diluted earnings per common share $ (0.10) $ 0.02
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