MIAMI, Fla.--(BUSINESS WIRE)--Ladenburg Thalmann Financial Services Inc. (AMEX: LTS) today announced financial results for the first quarter ended March 31, 2007.
In the first quarter of 2007, the Company had revenues of $15.9 million and net income of $874,000, or $0.01 per basic and diluted share. This compares to revenues of $14.8 million and net income of $4.7 million, or $0.03 per basic and diluted share, in the comparable 2006 period, which included a $4.8 million gain from the sale of the Company’s New York Stock Exchange (NYSE) membership in the first quarter of 2006. Excluding this one time gain, first quarter 2007 revenues increased $6.0 million, or 60%, and net income rose by $921,000 from the prior-year period. The first quarter 2007 results include non-cash compensation expense of $1.3 million, while the first quarter 2006 results include non-cash compensation expense of $0.7 million and the $4.8 million gain from the sale of the NYSE membership
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