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Broadridge Financial Solutions in Lake Success reports 16% net rise

Broadridge Financial Solutions CEO Richard J. Daly in

Broadridge Financial Solutions CEO Richard J. Daly in Edgewood on Aug. 20, 2012. The Lake Success-based company reported a 16 percent increase in profit for the second quarter over a year earlier. Credit: Ed Betz

Broadridge Financial Solutions Inc. Thursday reported its profit increased 16 percent in the October-December period compared with a year earlier on higher sales from its investor communications unit and acquisitions made last year.

The Lake Success-based business, which sends annual reports, proxy statements and other shareholder documents to investors in public companies, said its profit for the three months ended Dec. 31, 2015 was $40 million compared with $35 million a year ago.

Sales also rose to $639 million, a gain of 11 percent, year over year.

CEO Richard J. Daly said Broadridge’s results for the second quarter of its fiscal year “demonstrate the strength of our well-balanced business.”

In addition to investor communications, Broadridge tallies shareholder votes for public companies and processes financial transactions for investment banks and others. Most U.S. public companies use Broadridge, and it has expanded internationally.

Broadridge has about 2,000 employees, split between factories in Edgewood and the Lake Success headquarters.

Daly said the European and Asian operations of British bank Barclays PLC committed in the quarter to using Broadridge’s post-trade processing service. “Our sales pipeline remains robust, and keeps us well positioned to achieve our closed-sales guidance for the full year,” he said.

The earnings announcement was made before the stock market opening. Broadridge shares fell 25 cents Thursday to close at $52.73 on the New York Stock Exchange.

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