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Broadridge reports higher sales, profits
Broadridge Financial, a Lake Success-based company which provides investor communications and securities processing, reported increased sales and profits for its second fiscal quarter as a result of increased business and more distribution fees.
The company had revenues of $493 million in the quarter ending Dec. 31, a three percent increase from $480 million in the same period last year. Broadridge also reported profits of $16 million, or 13 cents a share, compared to making $7 million in the year-ago period.
Profits, however, missed expectations as analysts expected earnings of 14 cents per share.
Broadridge's stock fell about three percent in early trading Thursday.