Broadridge Financial profits up 3 percent
Broadridge Financial Solutions Inc. said Thursday its profit rose 3 percent in the July to September period compared with a year earlier. This is a Broadridge plant in Edgewood on May 9, 2012. Credit: Newsday / Alejandra Villa
Broadridge Financial Solutions Inc. said Thursday its profit rose 3 percent in the July to September period compared with a year earlier, on higher demand for its communication services to investors of public companies.
The Lake Success-based company that sends annual reports, proxy statements and other investor documents reported a profit of $34 million in its fiscal first quarter. A year ago, the company earned $33 million.
Sales were up 7 percent, year over year, to $595 million.
"I am confident as ever in Broadridge and our ability to achieve our long-term objectives as we continue to execute our long-term growth strategy," chief executive Richard J. Daly said in a statement.
In addition to its Lake Success corporate office, Broadridge has factories in Edgewood where more than 1,000 people assemble and send out investor documents. They also process financial transactions for investment banks.
The earnings announcement came before the stock market opening. In early trading, Broadridge shares were up 37 cents, less than 1 percent, to $59.26 on the New York Stock Exchange.
'His sacrifice made a difference': Gold Star mother honors son's memory Army Pfc. Raheen Tyson Heighter, 22, of Bay Shore, was the first serviceman from Long Island killed in the Iraq War.
'His sacrifice made a difference': Gold Star mother honors son's memory Army Pfc. Raheen Tyson Heighter, 22, of Bay Shore, was the first serviceman from Long Island killed in the Iraq War.
