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Investors Capital Holdings, Ltd. (Amex: ICH), a financial services holding corporation, stated a net income of $0.43 million for its 3rd quarter ended December 31, 2009, in opposition to a net loss of $0.61 million for the relative quarter ended December 31, 2008. The firm has now achieved three successive profitable quarters.
Strategically reducing operating expenses as well as market-driven increases with uninterrupted focus in trading were major factors in Investors Capital’s recent development in profitability and revenue growth. An improved stock market added to the growth of the firm’s advisory segment’s asset values. Total revenues rose 14.7% to $21.1 million for the quarter, from $18.4 million in the prior period. Commission revenues, which accounted for 81.6% of total revenues, increased to $17.2 million for the quarter, up 14.5% from $15.0 million for the prior period. Advisory fee revenue, which made up 15.0% of total revenues, grew 17.8% to $3.2 million for the quarter, compared to $2.7 million for the prior period. Gross profit rose to $4.2 million, a 4.7% increase over $4.0 million for the prior period.
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This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act") including 2009 growth, revenue for the second quarter and year of 2009 and gross margin for the second quarter and year of 2009. Additionally, words such as "seek," "intend," "believe," "plan," "estimate," "expect," "anticipate" and other similar expressions are forward-looking statements within the meaning of the Act. Some or all of the events or results anticipated by these forward-looking statements may not occur. Factors that could cause or contribute to such differences include the impact of intense competition, the continuation or worsening of current economic conditions and the condition of the domestic and global credit and capital markets.
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