eTrade 1999 Annual Report Download - page 65

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Fiscal 1999 Fiscal 1998
------------------------------------- ---------------------------------
4th 3rd 2nd 1st 4th 3rd 2nd 1st
Quarter Quarter Quarter Quarter Quarter Quarter Quarter Quarter
-------- -------- -------- -------- -------- ------- ------- -------
E*TRADE Group (as
previously reported):
Net revenues........... $151,742 $126,848 $ 88,241 $ 68,696 $66,484 $56,131 $54,006
Cost of services....... 72,373 56,573 41,289 33,273 29,786 25,258 23,571
Net income (loss)...... (24,216) 5,647 (13,546) (16,127) 5,141 4,188 4,986
Income (loss) per
share:
Basic................. $ (0.10) $ 0.02 $ (0.06) $ (0.08) $ 0.03 $ 0.03 $ 0.03
Diluted............... $ (0.10) $ 0.02 $ (0.06) $ (0.08) $ 0.03 $ 0.02 $ 0.03
TIR:
Net revenues........... $ 25,270 $ 28,444 $ 27,679 $ 25,461 $20,032 $24,243 $20,703
Cost of services....... 7,366 7,980 8,110 8,843 5,083 6,443 6,685
Net income............. 764 1,673 1,959 975 119 1,350 1,295
Combined:
Net revenues........... $173,178 $177,012 $155,292 $115,920 $ 94,157 $86,516 $80,374 $74,709
Cost of services....... 90,178 79,739 64,553 49,399 42,116 34,869 31,701 30,256
Net income (loss)...... (26,719) (23,452) 7,320 (11,587) (15,152) 5,260 5,538 6,281
Income (loss) per
share:
Basic................. $ (0.11) $ (0.10) $ 0.03 $ (0.05) $ (0.08) $ 0.03 $ 0.03 $ 0.04
Diluted............... $ (0.11) $ (0.10) $ 0.03 $ (0.05) $ (0.08) $ 0.03 $ 0.03 $ 0.04
The second, third and fourth quarters of fiscal 1999 include pre-tax gains on the sale of investments of $33,367,000, $4,303,000 and
$12,287,000, respectively.
66
18. SEGMENT AND GEOGRAPHICAL INFORMATION
Segment Information
The Company provides securities brokerage and related investment services. With the acquisition of TIR (see Note 16) and due to the
relatively short history of the combined operations of E*TRADE and TIR, the Company has classified the operations of E*TRADE
and TIR as separate reportable segments, which is the way in which management currently evaluates their operating performance.
Financial information for the Company's reportable segments is presented in the table below, and the totals are equal to the Company's
consolidated amounts as reported in the consolidated financial statements.
2002. EDGAR Online, Inc.