Ladenburg Thalmann Financial Services In (LTS, Financial) filed Quarterly Report for the period ended 2012-06-30.
Ladenburg Thalmann Financial Services has a market cap of $259.3 million; its shares were traded at around $1.35 with and P/S ratio of 1.
The $470 (4%) decrease in investment banking revenue for the three months ended June 30, 2012 was primarily due to an unusually high level of strategic advisory fees in the quarter ended June 30, 2011. Strategic advisory fees decreased $768 for the three months ended June 30, 2012 as compared to the 2011 period, primarily due to the completion of several large transactions in the 2011 period and were partially offset by an increase in capital raising revenue of $298 for the quarter ended June 30, 2012. We derived investment banking revenue for the three months ended June 30, 2012 from Ladenburg’s capital raising activities, including underwritten public offerings and private placements, and strategic advisory services. Revenue from underwritten public offerings was $9,733 for the 2012 period, as compared to $8,857 for the 2011 period. Private placement revenue was $160 for the second quarter of 2012, including $17 in warrants received as investment banking fees, as compared to $738 for the 2011 period, including $586 in warrants received as investment banking fees due to difficult market conditions in the quarter ended June 30, 2012. Strategic advisory services revenue was $186 for the 2012 period as compared to $954 for the 2011 period.
The $8,995 (314%) increase in service fees and other income for the three months ended June 30, 2012 as compared to 2011 was primarily attributable to $9,710 of service fees and other income earned by Securities America. Excluding Securities America, service fees and other income decreased in our independent brokerage and advisory services segment primarily due to decreased conference revenue of $645, resulting from the rescheduling of an annual conference to the third quarter from the second quarter as in 2011, and decreased transaction-related fees of $265, which was partially offset by increased revenue of $247 in direct investment marketing allowances received from product sponsor programs.
Our total revenues for the six months ended June 30, 2012 increased $200,667 (171%) from the 2011 period, primarily due to the Securities America acquisition, increased commissions of $104,480, advisory fees of $79,498 and other income of $19,638, partially offset by decreased investment banking revenue of $4,961. 2012 revenues include $198,277 from Securities America. Excluding Securities America, revenues in our independent brokerage and advisory services segment increased $6,277 (7%) from the 2011 period, primarily due to improved market conditions and recruitment of higher-producing financial advisors.
The $4,961 (23%) decrease in investment banking revenue for the six months ended June 30, 2012 as compared to the 2011 period was primarily due to unusually high levels of investment banking in the six months ended June 30, 2011. Capital raising revenue decreased $4,334 and strategic advisory services revenue decreased $627 due to the completion of several large transactions in the 2011 period. We derived investment banking revenue for the six months ended June 30, 2012 from Ladenburg’s capital raising activities, including underwritten public offerings and private placements, and strategic advisory services. Revenue from underwritten public offerings was $15,861 for the 2012 period, as compared to $17,930 for the 2011 period. Private placement revenue was $312 for the 2012 period, including $149 in warrants received as investment banking fees, as compared to $2,577 for the 2011 period, including $1,322 in warrants received as investment banking fees. Strategic advisory services revenue was $528 for the 2012 period, as compared to $1,156 for the 2011 period.
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Ladenburg Thalmann Financial Services has a market cap of $259.3 million; its shares were traded at around $1.35 with and P/S ratio of 1.
Highlight of Business Operations:
Our total revenues for the three months ended June 30, 2012 increased $103,154 (171%) from the 2011 period primarily due to the Securities America acquisition. Second quarter 2012 revenues included increased commissions of $53,543, advisory fees of $39,818 and service fees and other income of $8,995, partially offset by decreased investment banking revenue of $470. Revenues for the second quarter of 2012 include $100,697 from Securities America. Excluding Securities America, revenues in our independent brokerage and advisory services segment increased $2,159 (5%) from the 2011 period, primarily due to improved market conditions and successful recruitment of higher-producing financial advisors.The $470 (4%) decrease in investment banking revenue for the three months ended June 30, 2012 was primarily due to an unusually high level of strategic advisory fees in the quarter ended June 30, 2011. Strategic advisory fees decreased $768 for the three months ended June 30, 2012 as compared to the 2011 period, primarily due to the completion of several large transactions in the 2011 period and were partially offset by an increase in capital raising revenue of $298 for the quarter ended June 30, 2012. We derived investment banking revenue for the three months ended June 30, 2012 from Ladenburg’s capital raising activities, including underwritten public offerings and private placements, and strategic advisory services. Revenue from underwritten public offerings was $9,733 for the 2012 period, as compared to $8,857 for the 2011 period. Private placement revenue was $160 for the second quarter of 2012, including $17 in warrants received as investment banking fees, as compared to $738 for the 2011 period, including $586 in warrants received as investment banking fees due to difficult market conditions in the quarter ended June 30, 2012. Strategic advisory services revenue was $186 for the 2012 period as compared to $954 for the 2011 period.
The $8,995 (314%) increase in service fees and other income for the three months ended June 30, 2012 as compared to 2011 was primarily attributable to $9,710 of service fees and other income earned by Securities America. Excluding Securities America, service fees and other income decreased in our independent brokerage and advisory services segment primarily due to decreased conference revenue of $645, resulting from the rescheduling of an annual conference to the third quarter from the second quarter as in 2011, and decreased transaction-related fees of $265, which was partially offset by increased revenue of $247 in direct investment marketing allowances received from product sponsor programs.
Our total revenues for the six months ended June 30, 2012 increased $200,667 (171%) from the 2011 period, primarily due to the Securities America acquisition, increased commissions of $104,480, advisory fees of $79,498 and other income of $19,638, partially offset by decreased investment banking revenue of $4,961. 2012 revenues include $198,277 from Securities America. Excluding Securities America, revenues in our independent brokerage and advisory services segment increased $6,277 (7%) from the 2011 period, primarily due to improved market conditions and recruitment of higher-producing financial advisors.
The $4,961 (23%) decrease in investment banking revenue for the six months ended June 30, 2012 as compared to the 2011 period was primarily due to unusually high levels of investment banking in the six months ended June 30, 2011. Capital raising revenue decreased $4,334 and strategic advisory services revenue decreased $627 due to the completion of several large transactions in the 2011 period. We derived investment banking revenue for the six months ended June 30, 2012 from Ladenburg’s capital raising activities, including underwritten public offerings and private placements, and strategic advisory services. Revenue from underwritten public offerings was $15,861 for the 2012 period, as compared to $17,930 for the 2011 period. Private placement revenue was $312 for the 2012 period, including $149 in warrants received as investment banking fees, as compared to $2,577 for the 2011 period, including $1,322 in warrants received as investment banking fees. Strategic advisory services revenue was $528 for the 2012 period, as compared to $1,156 for the 2011 period.
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