Broadridge Financial reports sales, profits up
Broadridge Financial Solutions reported increased sales and profits in the quarter ended Sept. 30, 2012. This is a picture of the Edgewood plant. (May 9, 2012) Credit: Newsday / Alejandra Villa
Broadridge Financial, a firm that processes and distributes financial reports for companies, reported Tuesday higher sales and profits for the quarter ending Sept. 30.
The Lake Success company had sales of $495.8 million, a four percent increase compared to the same period in 2011, when revenue was $476.4 million. The company earned $18.3 million last quarter -- or 14 cents per share -- compared to $16.7 million last year.
"Our pipeline for all sales -- large and small -- is strong. Due to the seasonal nature of our business, our first quarter makes the smallest quarterly contribution to our annual results," said chief executive Richard Daly in a news release.
Earlier this year, Broadridge received a $20 million state tax break from the Empire State Development Corp. for agreeing to maintain its headquarters on Long Island, keep jobs and continue making facility improvements. The firm is one of the largest public companies on Long Island and employs about 1,500 locally.
The company also reaffirmed its 2013 guidance, maintaining growth estimates in revenue growth.
Photo: The Broadridge Financial Solutions plant in Edgewood. (May 9, 2012)
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