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QUICK & REILLY GROUP REPORTS RECORD QUARTERLY EARNINGS; THIRD QUARTER NET INCOME UP 139 PERCENT, REVENUES CLIMB 60 PERCENT

 QUICK & REILLY GROUP REPORTS RECORD QUARTERLY EARNINGS;
 THIRD QUARTER NET INCOME UP 139 PERCENT, REVENUES CLIMB 60 PERCENT
 NEW YORK, Dec. 19 /PRNewswire/ -- The Quick & Reilly Group, Inc. (NYSE: BQR), today reported its highest quarterly earnings in the company's history for the three months ending Nov. 29. The company achieved a record $4,949,527 net income for the period -- a 139 percent increase over the $2,071,013 net income in the third quarter ending Nov. 30, 1990. Earnings per share rose 145 percent to a record $0.54 versus $0.22 a year ago.
 Revenues for the quarter increased by 60 percent to $36,504,662 from $22,841,663 for the same quarter in 1990.
 The Quick & Reilly Group, Inc., also announced a 14 percent increase in its quarterly dividend of $0.01 to $0.08 per share and, in addition, will pay a special $0.10 per share, year-end extra dividend to shareholders of record as of March 2, payable on April 1.
 For the first nine months of 1991, Quick & Reilly reported net income of $14,215,540 on revenues of $101,586,319 as compared with net income of $8,783,602 on revenues of $83,137,508 for the same period last year. In the company's 17-year history, the Quick & Reilly Group has never posted an unprofitable quarter.
 Leslie C. Quick Jr., chairman of the Quick & Reilly Group Inc., noted, "Quick & Reilly's record financial success can be attributed to the continued high level of participation of individual investors in the equities markets. The unprecedented rate of growth that we have experienced in our account base, despite difficult economic conditions this year, suggests that the firm is responding to the needs of today's investors, who demand efficiency, integrity and competitive rates from their brokerage relationships. Investor enthusiasm is also evidenced by a healthy increase in the record number of transactions that were handled by U.S. Clearing Corp. for its correspondents.
 "In the discount brokerage division's efforts to continue to reach out to investors across the country, Quick & Reilly announced the opening of seven new offices, bringing the total number of offices to 75.
 "With returns from fixed instruments such as CDs at an historic low, individuals will increasingly look to quality equities and bonds for investment opportunities. This interest, coupled with Quick & Reilly's cost-conscious approach to client service, positions the firm to finish fiscal 1991 in a strongly positive fashion."
 Formed in 1981, the Quick & Reilly Group, Inc., is the holding company for Quick & Reilly, Inc. (founded in 1974), a discount brokerage firm with offices in 69 U.S. cities; U.S. Clearing Corp. (founded in 1978), which provides clearance for over 100 brokerage firms in addition to Quick & Reilly; and JJC Specialist Corp. (founded in 1982), which makes markets in the stock of 99 NYSE listed stocks.
 THE QUICK & REILLY GROUP, INC.
 Financial Highlights
 (Unaudited)
 Nine months ended 11/29/91 11/30/90
 Revenues $101,586,319 $ 83,137,508
 Net income before taxes 25,470,443 15,379,394
 Net income $ 14,215,540 $ 8,783,602
 Earnings per share $1.54 $0.93
 Weighted average number
 of shares outstanding 9,217,342 9,410,197
 Three months ended 11/29/91 11/30/90
 Revenues $ 36,504,662 $ 22,841,663
 Net income before taxes 8,972,476 3,668,536
 Net income $ 4,949,527 $ 2,071,013
 Earning per share $0.54 $0.22
 Weighted average number
 of shares outstanding 9,227,758 9,326,198
 -0- 12/19/91
 /CONTACT: Leslie C. Quick III, chief executive officer of Quick & Reilly, 212-943-8772; or Harry C. Cushing of Hill and Knowlton, 212-697-5600, for Quick & Reilly/
 (BQR) CO: The Quick & Reilly Group, Inc. ST: New York IN: FIN SU: ERN


GK -- NY058 -- 3958 12/19/91 13:43 EST
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Date:Dec 19, 1991
Words:640
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