WATERHOUSE INVESTOR SERVICES REPORTS EARNINGS
WATERHOUSE INVESTOR SERVICES REPORTS EARNINGS NEW YORK, June 22 /PRNewswire/ -- Waterhouse Investor Services, Inc.
(AMEX: WHO), today reported income for the third quarter ended May 31, 1992 (third quarter - FY 1992), of $2,148,800 or 44 cents per share vs. $1,302,600 or 29 cents per share for the same period the previous year.
Nine-month earnings were $6,655,200 or $1.38 per share vs. $2,084,600 or 47 cents per share for the same period last year. WATERHOUSE INVESTOR SERVICES, INC. Quarter ended May 31, 1992 FY 1992 FY 1991 Revenues $14,243,000 $ 9,808,800 Net income $ 2,148,800 $ 1,302,600 Share earnings $.44 $.29 Average shares outstanding 4,882,604 4,441,347 Nine months to May 31, 1992 FY 1992 FY 1991 Revenues $41,787,900 $22,059,000 Net income $ 6,655,200 $ 2,084,600 Share earnings $1.38 $.47 Average shares outstanding 4,823,960 4,451,207 All earnings per share figures have been adjusted to reflect the company's 3-for-2 stock split, which was paid in the form of a 50 percent dividend on Feb. 26, 1992. For the third quarter and nine-month period, revenues increased 45 percent and 89 percent, respectively. Earnings per share for the third quarter and nine-month period increased 52 percent and 193 percent, respectively. Revenues and earnings represent a record nine-month period for the company. The company also announced that during its fiscal third quarter it opened the following branch offices: Cherry Hill, N.J.; Michigan Ave., Chicago, Ill.; and Garden City, N.Y. During the fourth quarter the company expects to open branch offices in Nashville, Tenn.; Baltimore, Md.; New Orleans, La.; White Plains, N.Y.; Richmond, Va.; Paramus, N.J.; and Honolulu, Hawaii, which will bring its nationwide network to 39 offices. The company's principal subsidiary, Waterhouse Securities, Inc., provides discount brokerage to the individual investor through branch offices in major cities throughout the United States. -0- 6/22/92 /CONTACT: Lawrence M. Waterhouse Jr., chairman of Waterhouse Investor Services, 212-806-3500/ (WHO) CO: Waterhouse Investor Services, Inc. ST: New York IN: FIN SU: ERN
GK-TQ -- NY047 -- 2473 06/22/92 14:37 EDT
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|Date:||Jun 22, 1992|
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