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Ladenburg Thalmann Financial Services In (LTS) filed Quarterly Report for the period ended 2011-09-30.
Ladenburg Thalmann Financial Services Inc. has a market cap of $315 million; its shares were traded at around $1.72 with and P/S ratio of 1.7.
This is the annual revenues and earnings per share of LTS over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of LTS.
Highlight of Business Operations:
In our independent brokerage and advisory services segment, Triad and Investacorp had revenues of $22,810 and $16,831, respectively, for the three months ended September 30, 2011 as compared to $24,136 and $14,683, respectively, for the three months ended September 30, 2010. Triad and Investacorp had revenues of $76,727 and $50,808, respectively, for the nine months ended September 30, 2011 as compared to $63,489 and $44,633, respectively, for the nine months ended September 30, 2010.Our total revenues for the three months ended September 30, 2011 increased $535 (1%) as compared to the 2010 period, primarily as a result of increased advisory fees of $2,085, increased other income of $887 and increased principal transactions of $302, partially offset by decreased commissions revenues of $1,573 and decreased investment banking revenues of $1,152. We expect significant increases in revenues in future periods due to the addition of Securities America.
The $1,152 (25%) decrease in investment banking revenue for the three months ended September 30, 2011, as compared to the 2010 period, was primarily due to a decrease in capital raising fees of $1,145, resulting from a decrease in underwritten public offerings, partially offset by an increase in PIPE offerings. Our investment banking revenue for the three months ended September 30, 2011 was derived from Ladenburg s capital raising activities, including underwritten public offerings and private placements, and strategic advisory services. Revenue from underwritten public offerings was $2,732 for the 2011 period, as compared to $4,385 for the 2010 period. Private placement revenue was $508 for the third quarter of 2011, as compared to $0 for the 2010 period.
The $9,089 (57%) increase in investment banking revenue for the nine months ended September 30, 2011 as compared to the 2010 period was primarily due to an increase in capital raising fees of $9,806, resulting from an increase in yield-based equities offerings and PIPE offerings, partially offset by a decrease in strategic advisory services of $717. Our investment banking revenue for the nine months ended September 30, 2011 was derived from Ladenburg s capital raising activities, including underwritten public offerings and private placements, and strategic advisory services. Revenue from underwritten public offerings was $20,152 for the 2011 period, as compared to $11,556 for the 2010 period. Private placement revenue was $3,595 for the 2011 period, including $1,322 in warrants received as investment banking fees, as compared to $2,384 for the 2010 period, including $522 in warrants received as investment banking fees. Strategic advisory services revenue was $1,425 for the 2011 period, as compared to $2,142 for the 2010 period.
The $5,500 (17%) increase in compensation and benefits expense for the nine months ended September 30, 2011 as compared to the 2010 period was primarily due to a $4,488 increase in Ladenburg s and corporate s bonus and salary expense of which $3,391 was directly related to the increase in investment banking revenue, a $1,139 increase from the addition of Premier, a $464 increase in bonus and salary expense in our independent brokerage and advisory services segment, partially offset by a $602 decrease in producers compensation in our Ladenburg segment, which was directly correlated to revenue production by such persons.
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