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Sonic Corporation (SONC) Message Board

drmicrocaps 64 posts  |  Last Activity: Dec 21, 2014 5:21 PM Member since: Jan 19, 2011
  • Reply to

    3rd Quarter and 9 Month Results

    by drmicrocaps Nov 8, 2012 2:08 PM
    drmicrocaps drmicrocaps Oct 23, 2014 12:32 PM Flag

    KKR & Co. L.P. Announces Third Quarter 2014 Results

    Realization Activity Drives Strong Year-to-Date Distributable Earnings

    KKR & Co. L.P.

    GAAP net income (loss) attributable to KKR & Co. L.P. was $89.9 million for the quarter ended September 30, 2014, down from $204.7 million in the quarter ended September 30, 2013. GAAP net income (loss) attributable to KKR & Co. L.P. was $478.2 million for the nine months ended September 30, 2014, up from $413.3 million in the nine months ended September 30, 2013.

    Total distributable earnings was $504.8 million and $1,652.6 million for the quarter and nine months ended September 30, 2014, respectively, up from $251.1 million and $945.5 million in the comparable periods of 2013.

    Distribution per common unit was $0.45 and $1.55 for the quarter and nine months ended September 30, 2014, respectively, up from $0.23 and $0.92 in the comparable periods of 2013.

    Economic net income (“ENI”) was $508.7 million for the quarter ended September 30, 2014, down from $613.7 million in the quarter ended September 30, 2013. ENI was $1,640.6 million for the nine months ended September 30, 2014, up from $1,405.9 million in the nine months ended September 30, 2013.

    ENI after taxes per adjusted unit(1) was $0.50 for the quarter ended September 30, 2014, down from $0.80 in the quarter ended September 30, 2013. ENI after taxes per adjusted unit was $1.81 for the nine months ended September 30, 2014, up from $1.79 in the nine months ended September 30, 2013.

    Fee and yield earnings were $207.9 million and $524.9 million for the quarter and nine months ended September 30, 2014, respectively, up from $105.3 million and $293.7 million in the comparable periods of 2013.

    Book value was $10.5 billion on a total reportable segment basis as of September 30, 2014 or $12.51 per adjusted unit.

    Return on equity and cash return on equi

    Sentiment: Strong Buy

  • Reply to

    41th quarter and year-end results

    by drmicrocaps Nov 6, 2011 3:54 PM
    drmicrocaps drmicrocaps Oct 22, 2014 1:03 AM Flag

    Sonic Announces 4.6% System Same-Store Sales Increase for Fourth Fiscal Quarter

    Adjusted EPS Increase of 17% for the Fiscal Year

    Business Wire
    Sonic Corp.
    OKLAHOMA CITY--(BUSINESS WIRE)--

    Sonic Corp. (SONC), the nation’s largest chain of drive-in restaurants, today announced results for the fourth fiscal quarter and fiscal year ended August 31, 2014.

    Key highlights of the company’s fiscal year 2014 included:
    • Net income per diluted share was $0.85 compared with net income per diluted share of $0.64 in fiscal 2013; excluding certain adjustments outlined below, net income per diluted share increased 17% to $.84 compared with $0.72 in fiscal 2013;
    • System same-store sales increased 3.5%, consisting of a 3.5% same-store sales increase at both franchise and company drive-ins;
    • Company drive-in margins improved by 90 basis points;
    • 40 new drive-ins were opened; and
    • The company repurchased $80 million in stock representing 7% of the company’s outstanding shares as of the beginning of the fiscal year.

    Key highlights of the company’s fourth fiscal quarter included:
    • Net income per diluted share was $0.34 compared with net income per diluted share of $0.21 in the fourth fiscal quarter of 2013; excluding certain adjustments outlined below, net income per diluted share increased 13%;
    • System same-store sales increased 4.6% over a 5.9% increase in the fourth quarter of fiscal 2013, consisting of a 4.5% same-store sales increase at franchise drive-ins and an increase of 4.9% at company drive-ins;
    • Company drive-in margins improved by 150 basis points versus the fourth quarter of fiscal 2013;
    • 17 new drive-ins were opened; and
    • The company repurchased approximately $10.6 million of stock.

    “Our fourth quarter capped off a great year for Sonic, and we believe that the business is well positioned for continued growth,” said Cliff Hudson, Sonic Corp. CEO,

    Sentiment: Hold

  • Reply to

    3rd Quarter Results

    by drmicrocaps Oct 18, 2013 2:21 AM
    drmicrocaps drmicrocaps Oct 21, 2014 4:53 PM Flag

    Yahoo Reports Third Quarter 2014 Results

    Business Wire
    Yahoo! Inc.
    SUNNYVALE, Calif.--(BUSINESS WIRE)--

    Yahoo! Inc. (YHOO) today reported results for the quarter ended September 30, 2014.

    Q3 2013 Q3 2014
    Percent
    Change

    GAAP revenue $1,139 million $1,148 million 1%
    Revenue ex-TAC $1,081 million $1,094 million 1%
    GAAP income from operations
    $93 million
    $42 million (55)%
    Non-GAAP income from operations $173 million $156 million (10)%
    GAAP net earnings per diluted share $0.28 $6.70 N/M
    Non-GAAP net earnings per diluted share $0.34 $0.52
    52%


    N/M – Not meaningful

    "We had a good, solid third quarter. We delivered $1.094 billion in revenue ex-TAC and $1.148 billion in GAAP revenue. This represents 1% growth in revenue ex-TAC and 1% growth in GAAP revenue. We achieved this revenue growth through strong growth in our new areas of investment – mobile, social, native and video - despite industry headwinds in some of our large, legacy businesses,” said Marissa Mayer, CEO of Yahoo. “I am also pleased to report today that our revenue in mobile is now material. In Q3, we saw mobile revenues in excess of $200 million on a GAAP basis. Further, we estimate that our gross revenues in mobile will exceed $1.2 billion in revenue this year. We have invested deeply in mobile and we are seeing those investments pay off. Not only are our mobile products attracting praise and engagement from users and industry awards, they are generating meaningful revenue for Yahoo.”

    GAAP revenue was $1,148 million for the third quarter of 2014, a 1 percent increase from the third quarter of 2013. Revenue excluding traffic acquisition costs (“revenue ex-TAC”) was $1,094 million for the third quarter of 2014, a 1 percent increase compared to the third quarter of 2013.

    Sentiment: Hold

  • Reply to

    4th Quarter Results

    by drmicrocaps Oct 28, 2013 8:17 PM
    drmicrocaps drmicrocaps Oct 20, 2014 10:25 PM Flag

    Apple Reports Fourth Quarter Results

    Strong iPhone, Mac & App Store Sales Drive Record September Quarter Revenue & Earnings

    CUPERTINO, Calif.--(BUSINESS WIRE)--

    Apple® today announced financial results for its fiscal 2014 fourth quarter ended September 27, 2014. The Company posted quarterly revenue of $42.1 billion and quarterly net profit of $8.5 billion, or $1.42 per diluted share. These results compare to revenue of $37.5 billion and net profit of $7.5 billion, or $1.18 per diluted share, in the year-ago quarter. Gross margin was 38 percent compared to 37 percent in the year-ago quarter. International sales accounted for 60 percent of the quarter’s revenue.

    Apple’s board of directors has declared a cash dividend of $.47 per share of the Company’s common stock. The dividend is payable on November 13, 2014, to shareholders of record as of the close of business on November 10, 2014.

    “Our fiscal 2014 was one for the record books, including the biggest iPhone launch ever with iPhone 6 and iPhone 6 Plus,” said Tim Cook, Apple’s CEO. “With amazing innovations in our new iPhones, iPads and Macs, as well as iOS 8 and OS X Yosemite, we are heading into the holidays with Apple’s strongest product lineup ever.

    Sentiment: Strong Buy

  • Reply to

    2nd Quarter and Six month results

    by drmicrocaps Dec 31, 2013 1:07 AM
    drmicrocaps drmicrocaps Oct 20, 2014 10:52 AM Flag

    TTI Reports Record Sales, Gross Margin and Profit in the First Half of 2014

    .

    PR Newswire
    Techtronic Industries Co. Ltd.

    HONG KONG, Aug. 20, 2014 /PRNewswire-FirstCall/ -- Hong Kong-based global power equipment and floor care company Techtronic Industries Co. Ltd. ("TTI"/ The Group) (stock code: 669, ADR symbol: TTNDY) announced that it achieved record sales, gross margin and profit for the first half of 2014. Net profit attributable to shareholders reached US$ 136 million, a 15.9% increase over the first half of 2013. Basic earnings per share was US 7.45 cents, 15.9% higher than the same period last year. Sales rose by 10.2% over the six month period to US$ 2.25 billion.

    TTI achieved double digit growth and continued delivering excellent financial performance. The Power Equipment segment delivered US$ 1,678 million, a 10.5% sales increase, and generated exceptional organic growth in the professional and DIY power tool businesses. The Floor Care and Appliance segment grew 9.3% to US$ 572 million in sales. The company's double digit sales growth is a result of a series of successful new product launches and highly effective, targeted geographic expansion.

    Mr. Horst Pudwill, Chairman of TTI, said, "With our ongoing focus on generating organic growth, improving operating margins, and managing our robust balance sheet, we expect continued strong performance in the second half of 2014. We are excited about our momentum and are well-positioned to build on our record first half performance."

    Mr. Joseph Galli, CEO of TTI, commented, "New product introductions, geographic expansion and a relentless focus on operational efficiency propelled our continued outstanding performance. A highlight of our strong first half result was the 100 basis point improvement in gross margin increasing from 34% last year to 35% this year, through new products introduction and aggressive productivity gain

    Sentiment: Strong Buy

  • Reply to

    3rd Quarter results

    by drmicrocaps Aug 30, 2011 12:33 PM
    drmicrocaps drmicrocaps Oct 20, 2014 10:22 AM Flag

    Sanderson Farms, Inc. Reports Results for Third Quarter of Fiscal 2014

    Business Wire
    Sanderson Farms, Inc.
    August 26, 2014 6:30 AM

    LAUREL, Miss.--(BUSINESS WIRE)--

    Sanderson Farms, Inc. (SAFM) today reported results for the third fiscal quarter and nine months ended July 31, 2014.

    Net sales for the third quarter of fiscal 2014 were $768.4 million compared with $739.0 million for the same period a year ago. For the quarter, the Company reported net income of $76.1 million, or $3.30 per share, compared with net income of $67.9 million, or $2.95 per share, for the third quarter of fiscal 2013.

    Net sales for the first nine months of fiscal 2014 were $2,014.0 million compared with $1,955.9 million for the first nine months of fiscal 2013. Net income for the first nine months of fiscal 2014 totaled $155.9 million, or $6.76 per share, compared with net income of $85.3 million, or $3.71 per share, for the first nine months of last year.

    “Sanderson Farms’ financial results for the third quarter of fiscal 2014 reflect continued favorable market conditions,” said Joe F. Sanderson, Jr., chairman and chief executive officer of Sanderson Farms, Inc. “Market prices for poultry products were higher than the third quarter of fiscal 2013, as the Georgia Dock whole bird price remained historically high during the quarter. The higher Georgia Dock price reflects good retail grocery store demand. While boneless breast meat prices peaked below last year’s high, they remained above $2.00 per pound through June and into July.”

    Overall market prices for poultry products were higher in the third quarter of fiscal 2014 compared with prices in the third quarter of fiscal 2013. As measured by a simple average of the Georgia dock price for whole chickens, prices increased 5.3 percent compared with the third quarter of fiscal 2013.

    Sentiment: Buy

  • drmicrocaps by drmicrocaps Oct 20, 2014 9:59 AM Flag

    Vitesse Reports Third Quarter Fiscal Year 2014 Results

    • Net revenues totaled $27.2 million, an increase of 6% sequentially
    • New product revenue of $13.9 million, an increase of 21% sequentially and 79% from the third quarter last year
    • New product design wins grew over 45% in first nine months of the fiscal year compared to same period last year
    • Cash is $71.6 million at June 30, 2014 strengthened by $26.6 million of public offering net proceeds

    Vitesse Semiconductor Corporation
    August 5, 2014 4:00 PM

    CAMARILLO, Calif.--(BUSINESS WIRE)--

    Vitesse Semiconductor Corporation (VTSS), a leading provider of advanced IC solutions for Carrier, Enterprise and Internet of Things (IoT) networks, reported its financial results for the third quarter of fiscal year 2014, ended June 30, 2014.

    “Our recent performance has increased our confidence that Vitesse is well-positioned for significant and sustained long-term revenue growth and profitability. New product revenue momentum continues, growing 21% sequentially and 79% over the year ago quarter, and now comprises over 50% of total revenue. The inflection point in our business is now clearly evident, as the growth of our new product portfolio again outstripped the decline of our legacy business, resulting in total revenue growth of 6% sequentially and 3% from the year ago quarter,” said Chris Gardner, CEO of Vitesse. “At the same time, we have substantially strengthened our balance sheet, positioning us to retire all of our near-term debt and further our growth initiatives. Vitesse now has the infrastructure and the resources to support a much larger base of customers. Coupled with our substantial operating leverage, margins on our future growth will flow to the bottom line.”

    “The markets are validating our technology focus and strategy.

    Sentiment: Strong Buy

  • Reply to

    "Whisper Number"

    by drmicrocaps Oct 20, 2014 8:42 AM
    drmicrocaps drmicrocaps Oct 20, 2014 9:18 AM Flag

    Based on What?

    Sentiment: Strong Buy

  • Reply to

    "Whisper Number"

    by drmicrocaps Oct 20, 2014 8:42 AM
    drmicrocaps drmicrocaps Oct 20, 2014 9:17 AM Flag

    Based on What?

    Sentiment: Strong Buy

  • Reply to

    4th Quarter and year end results

    by drmicrocaps Oct 31, 2011 11:01 AM
    drmicrocaps drmicrocaps Oct 20, 2014 9:02 AM Flag

    WD-40 Company Reports Fourth Quarter and Fiscal Year 2014 Financial Results

    Company reports diluted earnings per common share of $2.87 for fiscal year 2014
    Management issues guidance for fiscal year 2015

    WD-40 Company
    October 16, 2014 4:05 PM

    SAN DIEGO, Oct. 16, 2014 /PRNewswire/ -- WD-40 Company (WDFC), a global marketing organization dedicated to creating positive lasting memories by developing and selling products that solve problems in workshops, factories and homes around the world, today reported financial results for its fiscal fourth quarter and fiscal year ended August 31, 2014.

    Financial Highlights and Summary
    •Total net sales for the fourth quarter were $97.6 million, an increase of 4 percent compared to the prior year fiscal quarter. Fiscal year total net sales were $383.0 million, an increase of 4 percent from the prior fiscal year.
    •Changes in foreign currency exchange rates had a favorable impact on sales for both the current quarter and year-to-date. On a constant currency basis total net sales were $93.9 million for the fourth quarter and $377.7 million for the full fiscal year.
    •Net income for the fourth quarter was $11.5 million, an increase of 42 percent compared to the prior year fiscal quarter. Fiscal year net income was $43.7 million, an increase of 10 percent from the prior fiscal year.
    •Diluted earnings per share were $0.77 in the fourth quarter, compared to $0.53 per share for the prior year fiscal quarter. Fiscal year diluted earnings per share were $2.87 compared to $2.54 in the prior fiscal year.
    •Gross margin was 52.7 percent in the fourth quarter compared to 53.0 percent in the prior year fiscal quarter. Fiscal year gross margin was 51.9 percent, compared to 51.3 percent in the prior fiscal year.
    •Selling, general and administrative expenses were down 4 percent in the fourth quarter to $28.3 million and were up 4 percent year-to-date to $108.6 million

    Sentiment: Hold

  • Reply to

    "Whisper Number"

    by drmicrocaps Oct 20, 2014 8:42 AM
    drmicrocaps drmicrocaps Oct 20, 2014 8:52 AM Flag

    Multiply last years Top line Growth rate by trailing EPS and that should answer your question!!

    Sentiment: Strong Buy

  • Reply to

    "Whisper Number"

    by drmicrocaps Oct 20, 2014 8:42 AM
    drmicrocaps drmicrocaps Oct 20, 2014 8:50 AM Flag

    The Trend has been to exceed by approximately 6%

    Sentiment: Strong Buy

  • drmicrocaps by drmicrocaps Oct 20, 2014 8:42 AM Flag

    The "Street" has AAPL coming in at 1.38 for the quarter that should be reported on or about October 20, 2014! All post's welcome! The "Good Dr's In"!

    Sentiment: Strong Buy

  • Reply to

    News

    by drmicrocaps Jan 5, 2012 8:24 PM
    drmicrocaps drmicrocaps Oct 19, 2014 2:52 PM Flag

    Newell Rubbermaid to Acquire bubba brands, inc.

    Newell Rubbermaid
    October 17, 2014 9:15 AM

    GlobeNewswire

    ATLANTA, Oct. 17, 2014 (GLOBE NEWSWIRE) -- Newell Rubbermaid (NWL) announced today that it has signed a definitive agreement to acquire the assets of bubba brands, inc. ("bubba"), a wholly owned subsidiary of In Zone Holdings, Inc.

    A leading designer and marketer of durable beverage containers, bubba is expected to deliver over $50 million of net sales in 2014. The acquisition will expand Newell Rubbermaid's presence in on-the-go thermal and hydration beverageware, leveraging the company's recent acquisition of the Contigo(R) and Avex(R) brands, and is expected to be accretive to Newell Rubbermaid's net sales growth rate, normalized operating income margin and normalized EPS within the first year.

    Newell Rubbermaid President and CEO Michael Polk said, "The acquisition of bubba further strengthens our position as a leader in one of the fastest-growing consumer durables categories in North America. We are excited to add this innovative brand to the portfolio. In combination with the Contigo, Avex and Rubbermaid(R) brands, the agreement to acquire bubba represents a tremendous opportunity to strengthen our growth agenda as we drive our Growth Game Plan strategy into action."

    The acquisition will be financed through organic cash flow and available borrowings and is expected to close this month, subject to customary closing conditions. Additional details will be provided during the company's third quarter 2014 earnings call on October 31.

    About Newell Rubbermaid

    Newell Rubbermaid Inc., an S&P 500 company, is a global marketer of consumer and commercial products with 2013 sales of $5.7 billion and a strong portfolio of leading brands, including Sharpie(R), Paper Mate(R), Rubbermaid Commercial Products(R), Irwin(R), Lenox(R), Parker(R), Waterman(R), Rubbermaid(R), Contigo(R), Levolor(R), Calphalon(R).

    Sentiment: Strong Buy

  • drmicrocaps by drmicrocaps Oct 19, 2014 2:35 PM Flag

    The "Street" has Yahoo coming in at .32 for the quarter that should be reported on or about October 21, 2014! All post's welcome! The "Good Dr's In"!

    Sentiment: Hold

  • drmicrocaps by drmicrocaps Oct 16, 2014 4:02 AM Flag

    Three Months Ended Nine Months Ended
    Revenues $ 1,409,432 $1,340,407 $ 1,105,999 $ 4,019,928 $ 3,199,332
    Cost of revenues 954,394 914,848 798,900 2,738,428 2,296,526
    Marketing 145,654 120,763 108,228 403,515 341,925
    Technology and development 120,953 115,182 95,540 346,445 280,641
    General and administrative 78,024 60,014 46,211 193,938 134,181
    Operating income 110,407 129,600 57,120 337,602 146,059
    Other income (expense):
    Interest expense (13,486) (13,328) (7,436) (36,866) (21,704)
    Interest and other income (expense) 616 1,100 (193) 3,117 (2,156)
    Loss on extinguishment of debt — — — — (25,129)
    Income before income taxes 97,537 117,372 49,491 303,853 97,070
    Provision for income taxes 38,242 46,354 17,669 120,425 33,088
    Net income $ 59,295 $ 71,018 $ 31,822 $ 183,428 $ 63,982
    Earnings per share:
    Basic $ 0.99 $ 1.18 $ 0.54 $ 3.06 $ 1.11
    Diluted $ 0.96 $ 1.15 $ 0.52 $ 2.97 $ 1.06
    Weighted-average common shares outstanding:
    Basic 60,171 59,996 59,108 59,996 57,769
    Diluted 61,820 61,634 60,990 61,669 60,578
    (1) Certain prior period amounts have been reclassified from "Marketing" to "Cost of revenues" to conform to current period
    presentation.
    11
    Netflix, Inc.
    Consolidated Balance Sheets
    (unaudited)
    (in thousands, except share and par value data)
    As of
    September 30,
    2014
    December 31,
    2013
    Assets
    Current assets:
    Cash and cash equivalents $ 1,183,217 $ 604,965
    Short-term investments 483,602 595,440
    Current content library, net 2,006,981 1,706,421
    Other current assets 149,682 151,937
    Total current assets 3,823,482 3,058,763
    Non-current content library, net 2,631,882 2,091,071
    Property and equipment, net 144,147 133,605
    Other non-current assets 178,818 129,124
    Total assets $ 6,778,329 $ 5,412,563
    Liabilities and Stockholders' Equity
    Current liabilities:
    Current content liabi

    Sentiment: Hold

  • Reply to

    "Whisper Number"

    by drmicrocaps Oct 15, 2013 11:48 PM
    drmicrocaps drmicrocaps Oct 15, 2014 1:34 PM Flag

    The "Street has WETF coming in at .09 for the quarter that should be reported on or about October 31, 2014! All post's welcome! The "Good Dr's In"!

    Sentiment: Strong Buy

  • drmicrocaps by drmicrocaps Oct 15, 2014 4:13 AM Flag

    The "Street" has NFLX coming in at 1.1532 for the quarter that should be reported on or about October 15, 2014! All post's welcome! The "Good Dr's In"!

    Sentiment: Hold

  • Reply to

    3rd Quarter Results will be announced

    by drmicrocaps Oct 11, 2013 8:16 PM
    drmicrocaps drmicrocaps Oct 11, 2014 12:46 PM Flag

    KKR & Co. L.P. to Announce Third Quarter 2014 Results

    Business Wire
    KKR

    NEW YORK--(BUSINESS WIRE)--

    KKR & Co. L.P. (KKR) announced today that it plans to release its financial results for the third quarter 2014 on Thursday, October 23, 2014, before the opening of trading on the New York Stock Exchange.

    A conference call to discuss KKR’s financial results will be held on Thursday, October 23, 2014 at 10:00 a.m. EDT. The conference call may be accessed by dialing (877) 303-2917 (U.S. callers) or +1 (253) 237-1135 (non-U.S. callers); a pass code is not required. Additionally, the conference call will be broadcast live over the Internet and may be accessed through the Investor Center section of KKR’s website.

    A replay of the live broadcast will be available on KKR’s website or by dialing (855) 859-2056 (U.S. callers) or +1 (404) 537-3406 (non-U.S. callers), pass code 13870720, beginning approximately two hours after the broadcast.

    ABOUT KKR

    KKR is a leading global investment firm that manages investments across multiple asset classes including private equity, energy, infrastructure, real estate, credit and hedge funds. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation at the asset level. KKR invests its own capital alongside its partners' capital and brings opportunities to others through its capital markets business. References to KKR's investments may include the activities of its sponsored funds.

    Sentiment: Strong Buy

  • Reply to

    2nd Quarter and 6 month results

    by drmicrocaps Aug 4, 2012 2:42 AM
    drmicrocaps drmicrocaps Oct 9, 2014 2:45 PM Flag

    WisdomTree Announces Second Quarter 2014 Results

    WisdomTree Investments, Inc.
    August 1, 2014 7:00 AM

    GlobeNewswire

    Pre-Tax Income of $20.1 Million, Increases 65% From Year Ago Quarter

    $0.15 Diluted Pre-Tax EPS; $0.08 Diluted Net Income EPS

    NEW YORK, Aug. 1, 2014 (GLOBE NEWSWIRE) -- WisdomTree Investments, Inc. (WETF), an exchange-traded product ("ETP") sponsor and asset manager, today reported pre-tax income of $20.1 million or $0.15 per share on a fully diluted basis. This compares to $12.2 million in the second quarter of 2013 and $16.5 million in the first quarter of 2014. Included in the quarter was a pre-tax loss of $1.6 million, or $0.01 per diluted EPS, associated with its European listed ETP business which was acquired in April 2014. The Company recorded income tax expense of $9.5 million (however, the Company does not currently pay income taxes because of its net operating loss carryforward) and net income of $10.6 million or $0.08 per diluted EPS in the second quarter.

    WisdomTree CEO and President Jonathan Steinberg said, "WisdomTree reached record assets under management ("AUM") levels in the second quarter driven by continued inflows in European-focused equity ETFs where we made market share gains, inflows in our India ETF and inflows in domestic equities. Even despite Japan-related outflows, we ended the quarter with $300 million in net inflows."

    Mr. Steinberg continued, "We recorded top line revenue growth of 18% with a 77% increase in pre-tax income in our US business despite the challenging flows this quarter. We are clearly demonstrating the efficiency, power and potential of our business model. Since the first quarter, we showed a nearly 5% improvement in our gross margin to 82.4% for our US business. Including our new European entity, we reported a record 45.6% pretax margin on a base of $34 billion in average AUM. Our business and our balance sheet have never been stronger.

    Sentiment: Strong Buy

SONC
26.88+0.06(+0.22%)Dec 26 4:00 PMEST

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