Awesome New Things

Ostrofe Financial Consultants and the National Financial Educators Council (NFEC) celebrated their second year hosting personal financial literacy events for students at three Nevada County high schools and the local community.

Grass Valley, CA (PRWEB) May 18, 2012

For the second year, Ostrofe Financial Consultants and the National Financial Educators Council (NFEC) celebrated financial literacy month by sharing personal financial literacy lessons with students at three Nevada County high schools and the local community. The events featured presentations from Vince Shorb, Chief Marketing Officer of the NFEC and Mike Fronk, an Investment Advisor Representative at Ostrofe Financial Consultants.

Allen Ostrofe, president of Grass Valley-based Ostrofe Financial Consultants, Inc. and former professor of financial planning and long-term investing stated, I am committed to helping people, both young and old, become better educated about their finances. By sharing information, we hope to empower people and provide them with the financial skills they need to improve their lives and the lives of those they love.

During the five high school financial literacy events, Shorb, who was featured as the leading youth financial literacy expert in an OC Register article, delivered a multimedia presentation that covered lessons on credit, debt, savings and personal development. Fronk shared personal stories of financial lessons he picked up through mentors, study and personal experience. He also donated the book The Richest Man in Babylon to the enthusiastic students and the school libraries.

Its an amazing feeling having students come up after the presentation that are interested in personal finance, states Fronk. I know that even just one of the lessons we shared can protect them from financial problems that many people are facing today.

The sixth event of the day was a complimentary event for the community. Shorb delivered a presentation designed to help parents and grandparents make informed decisions when formulating college, estate and legacy financial plans for their families. Fronk followed by sharing practical solutions to help those in attendance begin the college planning process.

Vince Shorb states, Its great working with an organization that is deeply invested in the local community. Ostrofe shows their commitment year-round to the financial literacy movement by supporting Bear River, Ghidotti and Nevada Union High School financial education programs.

With clients in 22 states, Ostrofe Financial Consultants, Inc., is located in Grass Valley. Securities and Advisory Services offered through National Planning Corporation (NPC), Member FINRA/SIPC, a Registered Investment Advisor. Ostrofe Financial Consultants, Inc. is the oldest and largest SEC. fee-based, Nevada County-based Registered Investment Advisor (by asset size, based on research 1/11 at adviserinfo.sec.gov) and serves those with investable assets of $500,000 or more. OFC and NPC are separate and unrelated companies. A proponent of long-term diversified investment strategies, the firm specializes in life and goal planning, business planning, generational planning, and estate planning, including trusts* and asset management. *Trusts are offered through an outside third party.

The National Financial Educators Council, a financial education company, has been well-recognized for its ability to educate high school-aged youth in an entertaining way to which young people can easily relate. Leveraging the support of celebrities, sports stars, and the entertainment industry helps raise interest and improve program effectiveness to reach this demographic.

For the original version on PRWeb visit: www.prweb.com/releases/prweb2012personal-financial/literacy-event/prweb9520018.htm

NEWARK, N.J., May 09, 2012 (BUSINESS WIRE) –
Prudential Financial, Inc.

/quotes/zigman/294774/quotes/nls/pru PRU
+0.13%

will hold a symposium for fixed
income analysts and investors in New York on Thursday, May 24, 2012, at
which members of the senior management team will discuss Prudential’s
businesses, strategies and financial position. The symposium will begin
at 8:30 a.m. (ET) and is expected to conclude at noon.

The general public may listen to the presentation through a live audio
webcast available on Prudential Financial’s Investor Relations website
at
www.investor.prudential.com .
Please log on at least fifteen minutes early to register and download
and install any necessary software. A replay of the audio webcast will
remain available on the Investor Relations website through June 7, 2012.

To register for this conference and obtain venue information, please
e-mail your name, company name, phone number, and e-mail address to investor.relations@prudential.com
prior to May 17, 2012.

Prudential Financial, Inc.

/quotes/zigman/294774/quotes/nls/pru PRU
+0.13%

, a financial services leader with
approximately $943 billion of assets under management as of March 31,
2012, has operations in the United States, Asia, Europe, and Latin
America. Prudential’s diverse and talented employees are committed to
helping individual and institutional customers grow and protect their
wealth through a variety of products and services, including life
insurance, annuities, retirement-related services, mutual funds and
investment management. In the U.S., Prudential’s iconic Rock symbol has
stood for strength, stability, expertise and innovation for more than a
century. For more information, please visit
http://www.news.prudential.com/ .

SOURCE: Prudential Financial, Inc.

Prudential Financial, Inc.
Lauren Day, 973-802-8026

Copyright Business Wire 2012

/quotes/zigman/294774/quotes/nls/pru

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PRU

Prudential Financial Inc.

US

: U.S.: NYSE

$
46.10

+0.06
+0.13%

Volume: 6.91M
May 18, 2012 4:02p

P/E Ratio10.51
Dividend Yield3.15%

Market Cap$21.62 billion
Rev. per Employee$981,399

/quotes/zigman/294774/quotes/nls/pru

Add to portfolio

PRU

Prudential Financial Inc.

US

: U.S.: NYSE

$
46.10

+0.06
+0.13%

Volume: 6.91M
May 18, 2012 4:02p

P/E Ratio10.51
Dividend Yield3.15%

Market Cap$21.62 billion
Rev. per Employee$981,399

Financial Glossary

Words used in this article:

CHICAGO, May 17, 2012 (BUSINESS WIRE) –
Fitch Ratings has affirmed the ratings of Sun Life Financial Inc. (TSE;
NYSE: SLF) including all outstanding issues, as well as the Insurer
Financial Strength (IFS) ratings of SLF’s primary Canadian insurance
subsidiaries at ‘AA-’ and its U.S. life insurance subsidiaries at ‘A-’.
The Rating Outlook is Negative. A complete list of ratings follows at
the end of this release.

The Negative Outlook reflects the risk that SLF’s earnings will remain
volatile and the company may be unable to generate run-rate operating
earnings and debt service capacity that is supportive of the current
rating level. Additionally, Fitch believes management of the closed
block of U.S. business will continue to be a challenge and there is a
risk for further charges as the book matures. As such, the discontinued
U.S. operations may continue to be a drag on overall earnings or require
further capital injections from SLF.

SLF reported operating net income of CAD727 million in the first quarter
of 2012 as the company benefitted from improvements in capital markets.
Full-year 2011 operating net income was CAD104 million and included a
number of one-time charges and the unfavorable impact from declines in
equity markets and interest rate levels. While SLF has taken a number of
steps to improve profitability including increasing its interest rate
hedging on its segregated fund and variable annuity (VA) business and
exiting certain lines of business, Fitch believes earnings remain
susceptible to capital market movements.

The affirmation of the ratings reflects SLF’s strong capitalization;
disciplined investment strategies that have resulted in strong liquidity
and solid asset quality; and the company’s leading market position in
Canada, growth prospects for emerging Asian markets and relatively
stable performance in U.S. mutual funds. Offsetting these positives are
the company’s higher levels of operating debt issued from the parent
company than many peers, low debt service capacity and sizable common
shareholder dividends.

Financial leverage was 21% at March 31, 2012. Pro forma financial
leverage following the company’s planned redemption of CAD800 million of
subordinated notes in June 2012 is 17%. Fitch views SLF’s debt service
capacity on a Canadian IFRS earnings basis, excluding the impact of
equity markets and interest rates, of approximately 8x during the first
three months of 2012 and 3x in 2011 as volatile for the rating level and
below historical levels above 9x. However, Fitch believes that under
Canadian regulations, SLF has greater flexibility to upstream dividends
from operating subsidiaries without regulatory approval than do most
U.S. peers.

Fitch believes that SLF is well-capitalized on a risk-adjusted basis,
with the minimum continuing capital and surplus requirement (MCCSR) for
Sun Life Assurance Company of Canada of 213% at March 31, 2012 and the
NAIC risk-based capital (RBC) ratio for Sun Life Assurance Company of
Canada (U.S.) of 412% at year-end 2011 after a USD300 million dividend
was upstreamed to the holding company in the fourth quarter. Positively,
the U.S. operations have not required a capital contribution since 2009.

Fitch views SLF’s U.S. life subsidiaries as having Limited Importance
from a strategic perspective following the company’s decision to exit
the U.S. VA and individual insurance markets at year-end 2011. On a
stand-alone basis, the ratings are in the ‘BBB’ category but the
companies continue to benefit from SLF’s ownership. Fitch expects SLF to
support these subsidiaries should additional capital be required.
However, Fitch believes SLF will look for ways to accelerate the release
of capital from the run-off block of business via a sale or reinsurance
transaction.

The key rating triggers that could result in a downgrade include:

–A lack of improvement in debt service capacity;

–Failure to achieve progress in meeting management’s stated target of
CAD2 billion of operating net income and 12%-13% operating return on
equity (ROE) by 2015;

–Significant charges related to the company’s run-off U.S. operations
that lead to additional capital contributions from the holding company;

–A sustained drop in the company’s risk-adjusted capital position with
no plans or ability to rectify. This would include the MCCSR ratio
falling below 200% or U.S. RBC ratio falling below 350%;

–An increase in financial leverage to over 25%;

–A large acquisition that involves execution and integration risk or
affects the company’s leverage and capitalization.

The key rating triggers that could result in a return to a Stable
Outlook include:

–An improvement in adjusted fixed-charge coverage, excluding equity
market and interest rate impacts, to over 6x;

–Successful management of the run-off U.S. operations or early release
of capital via a reinsurance transaction or sale;

–A decrease in financial leverage to below 15%.

Fitch has affirmed the following ratings with a Negative Rating Outlook:

Sun Life Financial, Inc.

–Issuer default rating at ‘A’;

–4.8% senior notes due 2035 at ‘A-’;

–4.95% senior notes due 2036 at ‘A-’;

–5.7% senior notes due 2019 at ‘A-’;

–4.57% senior notes due 2021 at ‘A-’;

–5.4% subordinated debentures due 2042 at ‘BBB+’;

–5.59% subordinated debentures due 2023 at ‘BBB+’;

–5.12% subordinated debentures due 2018 at ‘BBB+’;

–7.9% subordinated debentures due 2019 at ‘BBB+’;

–4.38% subordinated debentures due 2022 at ‘BBB+’;

–4.75% noncumulative preferred shares, series 1, at ‘BBB’;

–4.8% noncumulative preferred shares, series 2, at ‘BBB’;

–4.45% noncumulative preferred shares, series 3, at ‘BBB’;

–4.45% noncumulative preferred shares, series 4, at ‘BBB’;

–4.5% noncumulative preferred shares, series 5, at ‘BBB’;

–6% noncumulative preferred shares, series 6R, at ‘BBB;’

–4.35% noncumulative preference shares Series 8R, at ‘BBB’;

–3.9% noncumulative preference shares Series 10R, at ‘BBB’.

–4.25% noncumulative preference shares Series 12R rated ‘BBB’.

Sun Life Assurance Co. of Canada

–IFS ratings at ‘AA-’;

–IDR at ‘A+’;

–6.15% deferrable subordinated notes due 2022 at ‘A’;

–6.30% subordinated notes due 2028 at ‘A’.

Sun Life Assurance Co. of Canada (U.S.)

–IFS ratings at ‘A-’.

Sun Life Insurance & Annuity Co. of NY

–IFS ratings at ‘A-’.

Sun Life Capital Trust

–Sun Life ExchangEable Capital Securities (SLEECS), 7.093% Series B, at
‘A-’;

–Sun Life ExchangEable Capital Securities (SLEECS), 5.863% Series
2009-1, at ‘A-’.

Sun Canada Financial Company

–7.25% subordinated notes due 2015 at ‘A-’.

Additional information is available at ‘
www.fitchratings.com ‘.
The ratings above were unsolicited and have been provided by Fitch as a
service to investors. The issuer did not participate in the rating
process other than through the medium of its public disclosure.

Applicable Criteria and Related Research:

–’Insurance Rating Methodology’, Sept. 22, 2011.

Applicable Criteria and Related Research:

Insurance Rating Methodology

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=651018

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND
DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING
THIS LINK:
HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS .
IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE
AVAILABLE ON THE AGENCY’S PUBLIC WEBSITE ‘
WWW.FITCHRATINGS.COM ‘.
PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS
SITE AT ALL TIMES. FITCH’S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS
OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES
AND PROCEDURES ARE ALSO AVAILABLE FROM THE ‘CODE OF CONDUCT’ SECTION OF
THIS SITE.

SOURCE: Fitch Ratings

Fitch Ratings
Primary Analyst
Tana M. Higman, +1-312-368-3122
Director
Fitch, Inc.
70 W. Madison Street
Chicago, IL 60602
or
Secondary Analyst
R. Andrew Davidson, CFA, +1-312-368-3144
Senior Director
or
Committee Chairperson
James B. Auden, CFA, +1-312-368-3146
Managing Director
or
Media Relations:
Brian Bertsch, +1-212-908-0549
Email: brian.bertsch@fitchratings.com

Copyright Business Wire 2012

Financial Glossary

Words used in this article:

CHICAGO, May 09, 2012 (BUSINESS WIRE) –
Envestnet

/quotes/zigman/604937/quotes/nls/env ENV
-0.09%

, a leading provider of technology-enabled wealth
management solutions to investment advisors, today reported financial
results for its first quarter ended March 31, 2012.

Key Financial Metrics First Quarter %
Change
——
(in millions except per share data) 2012 2011
———————————— —– —– ——
Revenues from AUM/A $28.3 $23.3 21%
Total Revenues $32.6 $29.3 12%
Adjusted EBITDA(1) $5.1 $6.2 -18%
Adjusted Net Income per Share(1) $0.07 $0.09 -22%

Financial results for the first quarter of 2012 compared to the first
quarter of 2011:

--
Revenues from assets under management (AUM) or assets under
administration (AUA) increased 21% to $28.3 million for the first
quarter of 2012 from $23.3 million for the first quarter of 2011;
total revenues, which includes licensing and professional services
fees, increased 12% to $32.6 million for the first quarter of 2012
from $29.3 million for the first quarter of 2011.

--
Net income was $0.7 million, or $0.02 per diluted share, for the first
quarter of 2012 compared to $1.4 million, or $0.04 per diluted share,
for the first quarter of 2011.

--
Adjusted EBITDA(1) was $5.1 million for the first quarter
of 2012 compared to $6.2 million for the first quarter of 2011.

--
Adjusted Net Income(1) was $2.2 million, or $0.07 per
diluted share, for the first quarter of 2012 compared to $3.0 million,
or $0.09 per diluted share, for the first quarter of 2011.

"During the first quarter, a growing number of advisors adopted
Envestnet's wealth management solutions, as we experienced positive net
flows and strong conversion activity of new reporting clients," said Jud
Bergman, chief executive officer of Envestnet. "Having recently
completed the acquisitions of Prima Capital and Tamarac, Envestnet is
positioned better than ever to empower advisors to improve client
outcomes and strengthen their advisory practices. We are helping
advisors transform the wealth management industry to a transparent and
unconflicted standard of care for investors."

Key Operating Metrics as of and for the quarter ended March 31, 2012:

--
AUM/A of $80.4 billion, up 17% from March 31, 2011

--
Accounts (AUM/A only) of 364,236, up 13% from March 31, 2011

--
Advisors (AUM/A only) served totaled 14,386

--
Gross sales of AUM/A of $10.2 billion, resulting in net flows of $5.9
billion

The following table summarizes the changes in AUM and AUA for the
quarter ended March 31, 2012:

In Millions Except Account Data 12/31/11 Gross Redemp- Net Market 3/31/12
Sales tions Flows Impact
---------------------------------- --------- ------- ----------- ------- ------- ---------
Assets under Management (AUM) $ 22,936 $ 3,094 $ (1,531) $ 1,563 $ 1,585 $ 26,084
Assets under Administration (AUA) 47,148 7,119 (2,751) 4,368 2,820 54,336
------- ------ ------- -- ------ ----- -------
Total AUM/A $ 70,084 $10,213 $ (4,282) $ 5,931 $ 4,405 $ 80,420
== ======= = ====== == ======= == = ====== == ===== == =======
Fee-Based Accounts 340,674 42,320 (18,758) 23,562 364,236

During the first quarter, the Company added $4.1 billion of conversions,
which are included in the above AUM/A gross sales figures.

Review of Financial Results

Total revenues increased 12% to $32.6 million for the first quarter of
2012 from $29.3 million for the first quarter of 2011. The increase was
primarily due to a 21% increase in revenues from assets under management
or administration to $28.3 million from $23.3 million in the prior year
period, partially offset by a previously expected reduction in licensing
and professional services revenues.

Total operating expenses in the first quarter of 2012 increased 18% to
$31.4 million from $26.7 million in the prior year period. Cost of
revenues increased 14% to $11.5 million in the first quarter of 2012
from $10.1 million in the first quarter of 2011 due to the increase in
revenue from AUM or AUA. Compensation and benefits increased 5% to $10.7
million in the first quarter of 2012 from $10.2 million in the prior
year period. General and administration expenses increased 39% to $6.8
million in the first quarter of 2012 from $4.9 million in the prior year
period.

Income from operations was $1.2 million for the first quarter of 2012
compared to $2.6 million for the first quarter of 2011. Net income was
$0.7 million, or $0.02 per diluted share, for the first quarter of 2012
compared to $1.4 million, or $0.04 per diluted share, for the first
quarter of 2011.

Adjusted EBITDA(1) in the first quarter of 2012 was $5.1
million, compared to $6.2 million in the prior year period, reflecting
the previously expected reduction in licensing and professional services
revenues. Adjusted Net Income(1) was $2.2 million, compared
to $3.0 million in the first quarter of 2011. Adjusted Net Income Per
Share(1) was $0.07 per diluted share, compared to $0.09 per
diluted share in the first quarter of 2011.

Conference Call

The Company will host a conference call to discuss first quarter 2012
financial results today at 5:00 p.m. ET. The live webcast can be
accessed from the Company's investor relations website at
http://ir.envestnet.com/ .
The conference call can also be accessed live over the phone by dialing
(888) 300-2318, or (719) 457-1509 for international callers. A replay
will be available beginning one hour after the call and can be accessed
from the Company's investor relations website, or by dialing (877)
870-5176, or (858) 384-5517 for international callers; the conference ID
is 9201314. The dial-in replay will be available for one week and the
webcast replay will be available for one month following the date of the
conference call.

About Envestnet

Envestnet, Inc.

/quotes/zigman/604937/quotes/nls/env ENV
-0.09%

is a leading provider of technology-enabled
wealth management solutions to investment advisors. Envestnet's Advisor
Suite software empowers advisors to better manage client outcomes and
strengthen their practice. Envestnet offers advanced portfolio solutions
through its Portfolio Management Consultants Group, Envestnet | PMC.
Envestnet | Tamarac provides leading rebalancing, reporting and practice
management software. Envestnet | Prima provides institutional-quality
research and due diligence on investment and fund managers. Envestnet |
Vantage gives advisors an in-depth view of clients' investments,
empowering them to give holistic, personalized advice.

For more information on Envestnet, please visit
www.envestnet.com .

(1) Non-GAAP Financial Measures

"Adjusted EBITDA" represents net income before interest income, interest
expense, income tax provision, depreciation and amortization, non-cash
stock-based compensation expense, gain on investments, other income,
restructuring charges and transaction costs, severance, customer
inducement costs, and litigation related expense.

"Adjusted net income" represents net income before non-cash stock-based
compensation expense, restructuring expense and transaction costs,
severance, amortization of acquired intangibles, customer inducement
costs, imputed interest expense and litigation related expense.
Reconciling items are tax effected using the income tax rates in effect
on the applicable date.

"Adjusted net income per share" represents adjusted net income divided
by the diluted number of weighted-average shares outstanding.

See reconciliation of Non-GAAP Financial Measures at the end of this
press release. These measures should not be viewed as a substitute for
net income determined in accordance with United States generally
accepted accounting principles (GAAP).

Cautionary Statement Regarding Forward-Looking Statements

The forward-looking statements made in this press release and its
attachments concerning, among other things, Envestnet, Inc.'s (the
"Company") expected financial performance and outlook, its strategic
operational plans and growth strategy are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act of
1995. These statements involve risks and uncertainties and the Company's
actual results could differ materially from the results expressed or
implied by such forward-looking statements. Furthermore, reported
results should not be considered as an indication of future performance.
The potential risks, uncertainties and other factors that could cause
actual results to differ from those expressed by the forward-looking
statements in this press release include, but are not limited to,
difficulty in sustaining rapid revenue growth, which may place
significant demands on the Company's administrative, operational and
financial resources, fluctuations in the Company's revenue, the
concentration of nearly all of the Company's revenues from the delivery
of investment solutions and services to clients in the financial
advisory industry, the Company's reliance on a limited number of clients
for a material portion of its revenue, the renegotiation of fee
percentages or termination of the Company's services by its clients, the
Company's ability to identify potential acquisition candidates, complete
acquisitions and successfully integrate acquired companies, the impact
of market and economic conditions on the Company's revenues, compliance
failures, regulatory actions against the Company, the failure to protect
the Company's intellectual property rights, the Company's inability to
successfully execute the conversion of its clients' assets from their
technology platform to the Company's technology platform in a timely and
accurate manner, general economic, political and regulatory conditions,
as well as management's response to these factors. More information
regarding these and other risks, uncertainties and factors is contained
in the Company's filings with the Securities and Exchange Commission
("SEC") which are available on the SEC's website at
www.sec.gov
or the Company's Investor Relations website at
http://ir.envestnet.com/ .
You are cautioned not to unduly rely on these forward-looking
statements, which speak only as of the date of this press release. All
information in this press release and its attachments is as of May 9,
2012 and, unless required by law, the Company undertakes no obligation
to publicly revise any forward-looking statement to reflect
circumstances or events after the date of this press release or to
report the occurrence of unanticipated events.

Envestnet, Inc.
Condensed Consolidated Balance Sheets
(In thousands, except share information)
(Unaudited)
March 31, December31,
2012 2011
---------- ----------
Assets
Current assets:
Cash and cash equivalents $ 70,636 $ 64,909
Fees receivable 8,610 9,644
Deferred tax assets, net 146 192
Prepaid expenses and other current assets 3,137 4,040
------- -------
Total current assets 82,529 78,785
------- -------
Property and equipment, net 10,667 11,091
Internally developed software, net 3,487 3,524
Intangible assets, net 11,246 12,225
Goodwill 21,334 22,223
Deferred tax assets, net 6,726 6,692
Other non-current assets 3,165 3,162
------- -------
Total assets $ 139,154 $ 137,702
=== ======= === =======
Liabilities and Stockholders' Equity
Current liabilities:
Accrued expenses $ 13,186 $ 14,919
Accounts payable 2,266 1,974
Note payable 174 171
Deferred revenue 530 79
------- -------
Total current liabilities 16,156 17,143
------- -------
Deferred rent liability 1,492 1,414
Lease incentive liability 2,844 2,933
Other non-current liabilities 618 573
------- -------
Total liabilities 21,110 22,063
Stockholders' equity 118,044 115,639
------- -------
Total liabilities and stockholders' equity $ 139,154 $ 137,702
=== ======= === =======

Envestnet, Inc.
Condensed Consolidated Statements of Operations
(In thousands, except share and per share information)
(Unaudited)
Three Months Ended
March31,
------------------------------------
2012 2011
--------------------- ---------------------
Revenues:
Assets under management or administration $ 28,263 $ 23,271
Licensing and professional services 4,379 5,991
---------- ----------
Total revenues 32,642 29,262
---------- ----------
Operating expenses:
Cost of revenues 11,526 10,128
Compensation and benefits 10,685 10,146
General and administration 6,773 4,876
Depreciation and amortization 2,399 1,548
Restructuring charges 27 10
---------- ----------
Total operating expenses 31,410 26,708
---------- ----------
Income from operations 1,232 2,554
---------- ----------
Other income (expense):
Interest income 9 26
Interest expense (3) (211)
Gain on investments - 3
---------- ----------
Total other income (expense) 6 (182)
---------- ---------- ----
Income before income tax provision 1,238 2,372
---------- ----------
Income tax provision 498 968
---------- ----------
Net income $ 740 $ 1,404
==== ========== ==== ==========
Net income per share:
Basic $ 0.02 $ 0.04
==== ========== ==== ==========
Diluted $ 0.02 $ 0.04
==== ========== ==== ==========
Weighted average common shares outstanding:
Basic 31,857,598 31,433,964
========== ==========
Diluted 32,901,969 32,872,600
========== ==========

Envestnet, Inc.
Condensed Consolidated Statements of Cash Flows
(In thousands, unaudited)
Three Months Ended
March 31,
------------------------
2012 2011
--------------- ---------------
OPERATING ACTIVITIES:
Net income $ 740 $ 1,404
Adjustments to reconcile net income to net cash provided by
operating activities:
Depreciation and amortization 2,399 1,548
Amortization of customer inducements - 1,206
Deferred rent and lease incentive (11) (69)
Gain on investments - (3)
Deferred income taxes 12 775
Stock-based compensation 795 816
Interest expense 3 211
Changes in operating assets and liabilities:
Fees receivable 1,034 567
Prepaid expenses and other current assets 903 (480)
Accrued expenses (1,733) (1,212)
Accounts payable 292 349
Deferred revenue 451 (164)
Other non-current liabilities 45 60
------ ------
Net cash provided by operating activities 4,930 5,008
------ ------
INVESTING ACTIVITIES:
Purchase of property and equipment (613) (1,419)
Capitalization of internally developed software (346) (435)
Proceeds from investments (3) 15
Goodwill adjustment 889 -
------ ------
Net cash used in investing activities (73) (1,839)
------ --- ------ ---
FINANCING ACTIVITIES:
Proceeds from exercise of stock options 948 1,072
Purchase of treasury stock (78) (94)
------ --- ------ ---
Net cash provided by financing activities 870 978
------ ------
INCREASE IN CASH AND CASH EQUIVALENTS 5,727 4,147
------ ------
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 64,909 67,668
CASH AND CASH EQUIVALENTS, END OF PERIOD $ 70,636 $ 71,815
=== ====== === ======

Envestnet, Inc.
Reconciliation of Non-GAAP Financial
Measures
(in thousands, unaudited)
Three Months Ended
March31,
--------------------------------
2012 2011
------------------- -------------------
Net income $ 740 $ 1,404
Add (deduct):
Interest income (9) (26)
Interest expense 3 211
Income tax provision 498 968
Depreciation and amortization 2,399 1,548
Stock-based compensation expense 795 816
Gain on investments - (3)
Restructuring charges and transaction costs 644 10
Severance 5 57
Customer inducement costs - 1,206
Litigation related expense 19 33
---------- ----------
Adjusted EBITDA $ 5,094 $ 6,224
=== ========== === ==========
Three Months Ended
March31,
--------------------------------
2012* 2011*
------------------- -------------------
Net income $ 740 $ 1,404
Add:
Stock-based compensation expense 475 488
Restructuring charges and transaction costs 386 6
Severance 3 34
Amortization of acquired intangibles 586 169
Customer inducement costs - 721
Imputed interest expense - 122
Litigation related expense 11 20
---------- ----------
Adjusted net income $ 2,201 $ 2,964
=== ========== === ==========
Diluted number of weighted-average shares outstanding 32,901,969 32,872,600
========== ==========
Adjusted net income per share - diluted $ 0.07 $ 0.09
=== ========== === ==========

* Adjustments are tax effected using an income tax rate of 40.2% for
2012 and 2011, respectively.

Envestnet, Inc.
Historical Assets, Accounts and
Advisors
(in millions, except account and advisor data;
unaudited)
As of
----------------------------------------------------------------------
March 31, June 30, September 30, December 31, March 31,
2011 2011 2011 2011 2012
---------- --------- ----------- ----------- ----------
Platform Assets
Assets Under Management (AUM) $ 15,635 $ 16,493 $ 15,560 $ 22,936 $ 26,084
Assets Under Administration (AUA) 53,115 54,261 50,607 47,148 54,336
------- ------- ------- ------- -------
Subtotal AUM/A 68,750 70,754 66,167 70,084 80,420
Licensing 83,538 68,531 61,571 69,514 76,235
------- ------- ------- ------- -------
Total Platform Assets $ 152,288 $ 139,285 $ 127,738 $ 139,598 $ 156,655
=== ======= == ======= ==== ======= ==== ======= === =======
Platform Accounts
AUM 71,396 77,302 83,073 124,636 134,294
AUA 252,260 254,995 254,100 216,038 229,942
------- ------- ------- ------- -------
Subtotal AUM/A 323,656 332,297 337,173 340,674 364,236
Licensing 601,512 572,612 572,791 588,038 588,936
------- ------- ------- ------- -------
Total Platform Accounts 925,168 904,909 909,964 928,712 953,172
======= ======= ======= ======= =======
Advisors
AUM/A 14,140 14,613 14,206 13,887 14,386
Licensing 7,895 6,201 5,522 5,709 5,351
------- ------- ------- ------- -------
Total Advisors 22,035 20,814 19,728 19,596 19,737
======= ======= ======= ======= =======

SOURCE: Envestnet

Envestnet
Investor Relations, 312-827-3940
investor.relations@envestnet.com
or
Media Relations
mediarelations@envestnet.com

Copyright Business Wire 2012

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ENV

Envestnet Inc.

US

: U.S.: NYSE

$
11.40

-0.01
-0.09%

Volume: 38,290
May 17, 2012 4:04p

P/E Ratio54.03
Dividend YieldN/A

Market Cap$367.68 million
Rev. per EmployeeN/A

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ENV

Envestnet Inc.

US

: U.S.: NYSE

$
11.40

-0.01
-0.09%

Volume: 38,290
May 17, 2012 4:04p

P/E Ratio54.03
Dividend YieldN/A

Market Cap$367.68 million
Rev. per EmployeeN/A

Financial Glossary

Words used in this article:

BOSTON, May 9, 2012 /PRNewswire via COMTEX/ –
LPL Financial LLC, the nation’s largest independent broker-dealer* and a wholly-owned subsidiary of LPL Investment Holdings Inc.

/quotes/zigman/1459925/quotes/nls/lpla LPLA
-1.60%

, today announced that its Advisory and Brokerage Consulting team has been awarded Field Sales Team of the Year by the Money Management Institute (MMI), the leading national organization for the advisory solutions industry.

This prestigious industry award was given in recognition of the Advisory and Brokerage Consulting team’s outstanding support to financial advisors in providing their clients with the right platforms, strategies and advice to meet their financial goals.

John Moninger, LPL Financial Executive Vice President of Advisory and Brokerage Consulting Services, said, “We are honored to receive this prominent industry recognition from the Money Management Institute. This award is a testament to our focus on partnering with our financial advisors in order to align the best strategies and product platforms with their practices so they can most effectively support their end clients to achieve their life goals. Importantly, this recognition is the outcome of an extraordinary, integrated effort across our entire team, and I am grateful to MMI for the opportunity to acknowledge our firm-wide dedication to our advisors and their end clients.”

Christopher L. Davis, President of the Money Management Institute, said, “We congratulate LPL Financial for this well-deserved award. They have continued to demonstrate industry leadership in breaking new ground in aligning exceptional services and solutions for financial advisors to provide to investors, and we look forward to their continued innovation and excellence.”

Prior to this industry recognition, the LPL Financial Advisory and Brokerage Consulting team has proven exceptionally effective in supporting advisors through such innovative platforms as the company’s Model Wealth Portfolios (MWP) platform, one of three centrally managed fee-based platforms enabling advisors to provide client-centric theme-based investment portfolios for a broad range of investor preferences. In 2010, MWP was awarded Advisory Solutions Product of the Year by MMI. Since its launch in early 2008, the MWP platform grew to $7.4 billion in assets in just over three and a half years, as of December 31, 2011.

About LPL Financial

LPL Financial, a wholly owned subsidiary of LPL Investment Holdings Inc.

/quotes/zigman/1459925/quotes/nls/lpla LPLA
-1.60%

, is the nation’s largest independent broker-dealer (based on total revenues, Financial Planning magazine, June 1996-2011), a top RIA custodian, and a leading independent consultant to retirement plans. LPL Financial offers proprietary technology, comprehensive clearing and compliance services, practice management programs and training, and independent research to over 12,900 financial advisors and approximately 680 financial institutions. In addition, LPL Financial supports over 4,400 financial advisors licensed with insurance companies by providing customized clearing, advisory platforms and technology solutions. LPL Financial and its affiliates have approximately 2,700 employees with headquarters in Boston, Charlotte, and San Diego. For more information, please visit
www.lpl.com .

Securities offered through LPL Financial. Member FINRA/SIPC

*Based on total revenues, Financial Planning magazine, June 1996-2011

About the Money Management Institute (MMI)

Since 1997 MMI has been the leading voice for the global financial services organizations that provide advice and professionally-managed solutions to individual and institutional investors. Through industry advocacy, educational initiatives, regulatory affairs, data reporting and professional networking, MMI supports and advances the growth of advisory solutions. MMI members’ advice-driven investment solutions serve an evolving worldwide financial landscape and their organizations are committed to the highest standards of fiduciary responsibility and ethical conduct. For more information, visit
www.moneyinstitute.com .

LPLA-C

LPL Financial Media ContactsJoseph Kuo / Chris ClemensHaven Tower Group LLC(206) 420-3851 or (206) 420-1525jkuo@haventower.com or cclemens@haventower.com

SOURCE LPL Financial LLC

Copyright (C) 2012 PR Newswire. All rights reserved

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LPLA

LPL Investment Holdings Inc.

US

: U.S.: Nasdaq

$
30.77

-0.50
-1.60%

Volume: 195,459
May 17, 2012 12:20p

P/E Ratio21.35
Dividend YieldN/A

Market Cap$3.45 billion
Rev. per Employee$1.29M

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LPLA

LPL Investment Holdings Inc.

US

: U.S.: Nasdaq

$
30.77

-0.50
-1.60%

Volume: 195,459
May 17, 2012 12:20p

P/E Ratio21.35
Dividend YieldN/A

Market Cap$3.45 billion
Rev. per Employee$1.29M

Financial Glossary

Words used in this article:

FOSTER CITY, CA, May 09, 2012 (MARKETWIRE via COMTEX) –
SciClone Pharmaceuticals, Inc.

/quotes/zigman/77751/quotes/nls/scln SCLN
+1.89%

today reported
financial results for the first quarter ended March 31, 2012.
Revenues increased by 81% for the quarter ended March 31, 2012, to
$39.2 million, compared to revenues for the same period in the prior
year of $21.7 million. The increases in revenues in the first quarter
were due to the continued growth of the ZADAXIN business in China and
the inclusion of the NovaMed Pharmaceuticals, Inc. (NovaMed) revenues
since the date of the acquisition on April 18, 2011. For the first
quarter ending March 31, 2012, ZADAXIN revenues increased 37% to
$29.8 million compared to revenues for the same period in the prior
year of $21.7 million, and revenues attributable to the primary care
and oncology product lines were $9.4 million.

On a pro forma basis, assuming NovaMed had been acquired on January
1, 2011, revenues for the quarter ended March 31, 2012 would have
been $39.2 million compared to $28.2 million for the same period in
the prior year, an increase of $11.0 million.

“We are pleased to report that SciClone delivered a strong first
quarter 2012 performance with 37% ZADAXIN revenue growth year over
year, clearly growing ahead of the market. All our key products,
ZADAXIN, Depakine(R) and Aggrastat(R), contributed to this excellent
start for 2012,” said Friedhelm Blobel, Ph.D., SciClone President and
Chief Executive Officer. “We recently marked the one-year anniversary
of the SciClone-NovaMed acquisition, which was an occasion to
celebrate the significant accomplishments we’ve made integrating our
two companies. Our sales and marketing focused China team, which now
includes approximately 850 professionals, has greatly enhanced our
ability to expand commercial efforts more deeply and widely
throughout the China market, resulting in the increasing market
uptake of our expanded product portfolio. We believe we have created
a broad foundation for continuing to deliver strong financial results
in 2012 and further solidifying our position within the top tier of
specialty pharmaceutical companies in China.”

On a GAAP basis, SciClone’s net income for the first quarter of 2012
was $8.7 million, compared with $3.8 million for the same period in
the prior year, or $0.15 per share on both a basic and diluted basis
for the three months ended March 31, 2012, compared with $0.08 per
share on both a basic and diluted basis for the same period in the
prior year.

SciClone’s non-GAAP net income for the first quarter of 2012 was $9.6
million, compared with non-GAAP income of $4.9 million for the same
period in the prior year, or $0.17 and $0.16 per share on a basic and
diluted basis, respectively, for the three months ended March 31,
2012, compared with $0.10 per share on both a basic and diluted basis
for the same period in the prior year. Basic and diluted earnings per
share for the 2012 period reflect the issuance of 8.3 million shares
of common stock as part of the acquisition of NovaMed in April 2011.

SciClone believes this non-GAAP information is useful for investors,
taken in conjunction with SciClone’s GAAP financial statements,
because management uses such information internally for its
operating, budgeting and financial planning purposes. Non-GAAP
information is not prepared under a comprehensive set of accounting
rules and should only be used to supplement an understanding of
SciClone’s operating results as reported under GAAP. The non-GAAP
calculations and reconciliation to comparable GAAP measures were
derived principally as a result of the NovaMed acquisition and are
provided in the accompanying table titled “Reconciliation of GAAP to
Non-GAAP Net Income.”

Research and development (R&D) expenses for the first quarter of 2012
totaled $3.4 million, compared with $3.1 million for the same period
in the prior year. Following the Company’s announcement on March 2,
2012 regarding the futility of our SCV-07 clinical development
program in oral mucositis, the Company has taken certain steps to
reduce its future US-based clinical development expenses this year
and expects further substantial decreases in R&D expenses in 2013.
The increase in R&D for the quarter was primarily related to
severance costs associated with the discontinuation of the Company’s
SCV-07 program, and to a lesser extent to the addition of NovaMed’s
research and development expenses since its acquisition in April
2011, offset partially by a decrease in third-party expenses related
to the discontinuance of our US-based clinical development programs.

Sales and marketing expenses for the first quarter of 2012 were $17.6
million, compared with $5.2 million for the same period in the prior
year. The increase of $12.4 million was primarily a result of the
addition of approximately 450 sales and marketing employees through
the acquisition of NovaMed in April 2011, as well as the additional
expansion of the Company’s sales team by approximately 100 sales
representatives in the fourth quarter of last year, which
significantly expanded SciClone’s sales and marketing capabilities.
The Company now has a combined sales organization comprised of
approximately 850 sales and marketing focused professionals in China.

General and administrative expenses for the first quarter of 2012
were $4.0 million, compared with $6.0 million for the same period in
the prior year. The decrease in 2012 was primarily due to lower
professional services fees related to the Company’s FCPA
investigation, class action and derivative lawsuits, and professional
expenses in connection with the NovaMed acquisition, partially offset
by increases in general and administrative expenses attributable to
NovaMed operations.

At March 31, 2012, cash and investments totaled $74.9 million,
compared with $67.0 million at December 31, 2011. The increase in
SciClone’s cash balance was primarily due to the cash generated by
the Company’s commercial operations, partially offset by $1.1 million
used in the first quarter for the repurchase of SciClone stock.

Conference Call Today

SciClone is hosting a conference call today at 4:30 pm ET to provide
a financial update. The call will be hosted by Friedhelm Blobel,
Ph.D., President and CEO, Gary Titus, Senior Vice President and CFO.

LIVE CALL:
866 730.5768 (U.S./Canada)
857 350.1592 (International)

Passcode: 27284305

REPLAY:
888 286.8010 (U.S./Canada)
617 801.6888
(International)
Passcode: 13769826
(Replay available from Wednesday,
May 9, 2012, at 6:30 pm ET until 11:59 pm ET on Wednesday, May 16,
2012)

The conference call will contain forward-looking statements.
Interested parties who wish to listen to the webcast should visit the
Investor Relations section of SciClone’s website at
www.sciclone.com .
The information provided on the teleconference is accurate only at
the time of the conference call, and SciClone will take no
responsibility for providing updated information except as required
by law.

About SciClone

SciClone Pharmaceuticals is a revenue-generating, profitable,
specialty pharmaceutical company with a substantial commercial
business in China and a product portfolio of therapies for oncology,
infectious diseases and cardiovascular, urological, respiratory, and
central nervous system disorders. SciClone’s ZADAXIN(R) (thymalfasin)
is approved in over 30 countries and may be used for the treatment of
hepatitis B (HBV), hepatitis C (HCV), and certain cancers, and as a
vaccine adjuvant, according to the local regulatory approvals.
Besides ZADAXIN, SciClone markets about 15 mostly partnered products
in China, including Depakine(R), the most widely prescribed
broad-spectrum anti-convulsant in China; Tritace(R), an ACE inhibitor
for the treatment of hypertension; Stilnox(R), a fast-acting hypnotic
for the short-term treatment of insomnia (marketed as Ambien(R) in
the US); and Aggrastat(R), a recently-launched interventional
cardiology product. SciClone is also pursuing the registration of
several other therapeutic products in China. SciClone is
headquartered in Foster City, California. For additional information,
please visit
www.sciclone.com .

Forward-Looking Statements

This press release contains forward-looking statements regarding
expected financial results and expectations. Readers are urged to
consider statements that include the words “may,” “will,” “would,”
“could,” “should,” “might,” “believes,” “estimates,” “projects,”
“potential,” “expects,” “plans,” “anticipates,” “intends,”
“continues,” “forecast,” “designed,” “goal,” “unaudited,”
“approximately” or the negative of those words or other comparable
words to be uncertain and forward-looking. These statements are
subject to risks and uncertainties that are difficult to predict and
actual outcomes may differ materially. These include risk and
uncertainties relating to: the course, cost and outcome of regulatory
matters, including pricing decisions by authorities in China; the
on-going regulatory investigations; the Company’s ability to execute
on its goals in China and on its objectives for revenue in fiscal
2012; the challenges presented by integrating an acquired business
into existing operations; the variability in earnings on a GAAP basis
that may result from non-cash charges related to the NovaMed
acquisition; the dependence on third party license, promotion or
distribution agreements including the need to renew such agreements;
operating an international business; the clinical trial process,
including the regulatory approval and the process of initiating
trials at, and enrolling patients at, clinical sites; the effect of
changes in its practices and policies related to the Company’s
compliance programs. SciClone cannot predict the timing or outcome of
the SEC and DOJ investigations, or of the level of its efforts
required to cooperate with those investigations, however the Company
has incurred substantial expenses in connection with the
investigations and related litigation and expects to incur additional
expense and the investigations could result in fines and further
changes in its internal control or other remediation measures that
could adversely affect its business. Please also refer to other risks
and uncertainties described in SciClone’s filings with the SEC. All
forward-looking statements are based on information currently
available to SciClone and SciClone assumes no obligation to update
any such forward-looking statements.

Ambien, Depakine, Stilnox and Tritace are registered trademarks of
Sanofi and/or its affiliates.

Aggrastat is a registered trademark of Medicure International Inc. in
the United States, and Iroko Cardio LLC in numerous other countries.

SciClone, SciClone Pharmaceuticals, the SciClone Pharmaceuticals
design, the SciClone logo and ZADAXIN are registered trademarks of
SciClone Pharmaceuticals, Inc. in the United States and numerous
other countries.

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share amounts)

Three Months Ended
March 31,
————————
2012 2011
———– ———–

Net revenues:
Product sales $ 31,258 $ 21,662
Promotion services 7,905 –
———– ———–
Total revenues, net 39,163 21,662

Operating expenses:
Cost of product sales 4,941 3,103
Sales and marketing 17,640 5,228
Amortization of acquired intangible assets,
related to sales and marketing 884 –
Research and development 3,393 3,109
General and administrative 3,961 5,958
Contingent consideration* (916) –
———– ———–
Total operating expenses 29,903 17,398
———– ———–

Income from operations 9,260 4,264

Non-operating income (expense):
Interest income 30 20
Interest expense (55) (57)
Other (expense) income, net (1) 15
———– ———–
Income before provision for income tax 9,234 4,242
Provision for income tax 554 393
———– ———–
Net income $ 8,680 $ 3,849
=========== ===========

Basic net income per share $ 0.15 $ 0.08
Diluted net income per share $ 0.15 $ 0.08

Weighted average shares used in computing:
Basic net income per share 57,701 48,020
Diluted net income per share 59,691 50,402

UNAUDITED SELECTED BALANCE SHEET DATA
(in thousands)

March 31, December 31,
2012 2011
————- ————-

Cash and investments $ 74,855 $ 67,018
Accounts receivable 42,056 42,226
Inventories 8,518 8,813
Intangible assets, net 44,428 45,185
Goodwill 32,074 31,973
Total assets 206,997 200,326
Total current liabilities 24,114 25,284
Contingent consideration 14,484 15,400
Deferred tax liabilities 8,351 8,715
Borrowing on line of credit 2,500 2,500
Total shareholders’ equity 159,649 150,458

RECONCILIATION OF GAAP TO NON-GAAP NET INCOME
(in thousands, except per share amounts)
(unaudited)

Three Months Ended
March 31,
—————————-
2012 2011
————- ————-

GAAP net income $ 8,680 $ 3,849
Non-GAAP adjustments:
Employee stock-based compensation 922 525
Contingent consideration (916) –
Amortization of acquired intangible assets 884 –
Acquisition related costs — 562
————- ————-
Non-GAAP net income $ 9,570 $ 4,936
============= =============

Non-GAAP basic net income per share $ 0.17 $ 0.10
Non-GAAP diluted net income per share $ 0.16 $ 0.10

Weighted average shares used in computing:
GAAP and Non-GAAP basic net income per share 57,701 48,020
GAAP and Non-GAAP diluted net income per share 59,691 50,402

SciClone management uses these non-GAAP financial measures to monitor
and evaluate the Company's operating results and trends on an
on-going basis and internally for operations, budgeting and financial
planning purposes. SciClone believes the non-GAAP information is
useful for investors by offering them the ability to better
understand how management evaluates the business. These non-GAAP
measures have limitations, however, because they do not include all
items of income and expenses that affect SciClone. These non-GAAP
financial measures that management uses are not prepared in
accordance with, and should not be considered in isolation of, or as
an alternative to, measurements required by GAAP.

SciClone's non-GAAP financial measures exclude the following items
from GAAP net income and net income per share:

-- Employee stock-based compensation. The effects of non-cash employee
stock-based compensation.
-- *Contingentconsideration. The contingent consideration related to the
acquisition of NovaMed is re-measured each reporting period and the
change in fair value is recorded as an adjustment to operating
expense. SciClone's non-GAAP financial measure excludes the change in
fair value of the liability for contingent consideration in connection
with the acquisition of NovaMed.
-- Amortization of acquired intangible assets. We recorded intangible
assets in connection with the acquisition of NovaMed. The amortization
of these intangible assets is excluded from SciClone's non-GAAP
financial measure.
-- Acquisition related costs. We incurred certain one-time acquisition
costs related to the acquisition of NovaMed. The effects of these
acquisition related costs are excluded from SciClone's non-GAAP
financial measure.

Corporate Contacts

Gary Titus
Chief Financial Officer
650.358.3456
gtitus@sciclone.com

Jane Green
Investors/Media
650.358.1447
jgreen@sciclone.com

SOURCE: SciClone Pharmaceuticals, Inc.

mailto:gtitus@sciclone.com
mailto:jgreen@sciclone.com

Copyright 2012 Marketwire, Inc., All rights reserved.

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SCLN

SciClone Pharmaceuticals Inc.

US

: U.S.: Nasdaq

$
5.92

+0.11
+1.89%

Volume: 350,462
May 15, 2012 4:00p

P/E Ratio10.61
Dividend YieldN/A

Market Cap$329.99 million
Rev. per Employee$172,734

Financial Glossary

Words used in this article:

MILPITAS, Calif., May 09, 2012 (BUSINESS WIRE) –
Dialogic Inc.

/quotes/zigman/611063/quotes/nls/dlgc DLGC
-1.26%

, a leading provider of communications
technologies that power advanced networks, today announced first quarter
financial results for the period ending March 31, 2012.

Recent Highlights

–
Announced balance sheet restructuring that will reduce long-term debt
from $99.0 million to $61.0 million upon stockholder approval at our
upcoming Annual Stockholders Meeting.

–
Announced significantly lower interest rate on remaining long-term
debt that is expected to reduce cash interest in 2012 by $2.6 million
per quarter or $10.6 million annually.

Financial Results

On a GAAP basis, Dialogic achieved the following financial results for
the first quarter of 2012 as compared to the first quarter of 2011 and
the fourth quarter of 2011.

–
Total revenue for the first quarter of 2012 was $41.1 million compared
to $44.9 million for the first quarter of 2011 and $50.0 million for
the fourth quarter of 2011.

–
Gross margin for the first quarter of 2012 was 60.5% compared to 57.0%
for the first quarter of 2011 and 58.1% for the fourth quarter of 2011.

–
Operating expense for the first quarter of 2012 was $32.1 million
compared to $42.6 million for the first quarter of 2011 and $33.9
million for the fourth quarter of 2011.

–
Net Loss attributable to shareholders for the first quarter of 2012
was $14.1 million, or $0.45 per share, compared to $21.3 million, or
$0.68 per share, for the first quarter of 2011 and $9.2 million, or
$0.29 per share, for the fourth quarter of 2011.

As reflected below in the Reconciliation of Condensed Consolidated
Statement of Operations to Adjusted EBITDA results, on a non-GAAP basis,
Dialogic achieved the following financial results for the first quarter
of 2012 as compared to the first quarter of 2011 and to the fourth
quarter of 2011.

–
Total Revenue for the first quarter of 2012 of $41.6 million compared
to $45.9 million for the first quarter of 2011 and $50.4 million in
the fourth quarter of 2011.

–
Gross margin for the first quarter of 2012 of 64.9% compared to 63.0%
for the first quarter of 2011 and 65.8% for the fourth quarter of 2011.

–
Operating expenses for the first quarter of 2012 of $29.5 million
compared to $35.0 million for the first quarter of 2011 and $28.8
million for the fourth quarter of 2011.

–
Adjusted EBITDA for the first quarter of 2012 of ($2.5 million)
compared to ($6.1 million) for the first quarter of 2011 and $4.4
million for the fourth quarter of 2011.

“As we review our non-GAAP financial results for the first quarter of
2012 as compared to the first quarter of 2011, we are pleased to report
improvements in gross margin consistent with the growing importance of
our Next-Gen portfolio and significant streamlining of operating
expenses consistent with positioning the company for improved financial
performance,” said Nick Jensen, Dialogic Chairman and Chief Executive
Officer. “For the second quarter of 2012, we expect revenue to increase
and non-GAAP operating expenses to decrease as compared to the first
quarter. In addition, we reaffirm that we expect to achieve positive
cash flow for the fiscal year.”

“Management focused significant effort during the quarter on resolving
our long-term balance sheet challenges and we are pleased to have
created a more favorable structure” said Jensen. “The company will have
greater financial flexibility and will continue to focus on accelerating
the growth of our Next-Gen portfolio including Bandwidth Optimization
Mobile Backhaul for 2G/3G and LTE networks, Core Switching, Session
Border Controllers, Mobile Video and our PowerMedia Media Server
software,” said Jensen.

Conference Call Information

Dialogic will hold its first quarter earnings conference call at
approximately 4:30pm Eastern Time on Wednesday, May 9, 2012. Dialogic
will offer a live webcast of the conference call, which will also
include forward-looking information. For parties in the United States,
call 1-800-860-2442 to access the conference call. International parties
can access the call at 412-858-4600. The webcast will be accessible from
the “Investor Relations” section of the Dialogic website (
www.dialogic.com ).
The webcast will be archived for a period of 30 days. A telephonic
replay of the conference call will also be available one hour after the
call and will run for one month. To hear the replay, parties in the
United States should call 1-877-344-7529 and enter passcode 10013824#.
International parties should call 1-412-317-0088 and enter passcode 10013824#.
In addition, Dialogic’s press release will be distributed via Business
Wire and posted on the Dialogic website before the conference call
begins (DLGC-IR).

About Dialogic

Dialogic

/quotes/zigman/611063/quotes/nls/dlgc DLGC
-1.26%

develops products and technologies that enable
operators to provide — and subscribers to enjoy – an enhanced mobile
experience. Whether our products are used in mobile value-added service
solutions or to transform, connect and optimize communications services,
Dialogic understands that mobile experience matters. Our technology
touches over two billion mobile subscribers a day and our network
solutions carry more than 15 billion minutes of traffic per month.

For more information on Dialogic and the communications solutions built
on Dialogic(R) technology, visit
www.dialogic.com
and
www.dialogic.com/showcase .

Use of Non-GAAP Financial Measures

Some of the measures in this press release are non-GAAP financial
measures within the meaning of the SEC Regulation G. Dialogic believes
that presenting non-GAAP operating income (loss) is useful to investors,
because it describes the operating performance of Dialogic. Dialogic
management uses these non-GAAP measures as important indicators of the
company’s past performance and in planning and forecasting performance
in future periods. Dialogic considers EBITDA, as adjusted, an important
measure of its ability to generate cash flows to service debt, fund
capital expenditures and fund other corporate investing and financing
activities. EBITDA, as adjusted, eliminates the non-cash effect of
tangible asset depreciation and amortization of intangible assets and
stock-based compensation as well as certain nonrecurring expenses.
EBITDA should be considered in addition to, rather than as a substitute
for, pre-tax income, net income and cash flows from operating
activities. The non-GAAP financial information Dialogic presents may not
be comparable to similarly-titled financial measures used by other
companies, and investors should not consider non-GAAP financial measures
in isolation from, or in substitution for, financial information
presented in compliance with GAAP. You are encouraged to review the
reconciliation of non-GAAP financial measures to GAAP financial measures
included elsewhere in this press release.

In respect of the foregoing, Dialogic provides the following
supplemental information to provide additional context for the use and
consideration of the non-GAAP financial measures used elsewhere in this
press release:

“EBITDA” is defined as earnings before interest, taxes, depreciation and
amortization. “Adjusted EBITDA” is defined as EBITDA plus adjustments
for nonrecurring items or other adjustments. Adjusted EBITDA includes
EBITDA and also non-cash stock compensation expense, purchase price
adjustments resulting from the fair value adjustments of the assets and
liabilities of Veraz Networks as of October 1, 2010, acquisition and
integration related costs, restructuring expenses, SEC inquiry expenses
and foreign exchange gains (losses). Dialogic considers Adjusted EBITDA
as a key metric in evaluating its financial performance.

Stock-based compensation: These expenses consist of expenses for
employee stock options, restricted stock units and employee stock
purchases under ASC 718. Dialogic excludes stock-based compensation
expenses from our non-GAAP measures primarily because they are non-cash
expenses and are also excluded by our lender in the calculation of
EBITDA. As Dialogic applies ASC 718, it believes that it is useful to
its investors to understand the impact of the application of ASC 718 to
its operational performance, liquidity and its ability to invest in
research and development and fund acquisitions and capital expenditures.
While stock-based compensation expense calculated in accordance with ASC
718 constitutes an ongoing and recurring expense, such expense is
excluded from non-GAAP results because it is not an expense that
typically requires or will require cash settlement by Dialogic and
because such expense is not used by management to assess the core
profitability of our business operations. Dialogic further believes
these measures are useful to investors in that they allow for greater
transparency to certain line items in our financial statements. In
addition, excluding this item from various non-GAAP measures better
facilitates comparisons to our competitors’ operating results.

SEC inquiry expense: Due to the generally nonrecurring nature and
magnitude of expense associated with the SEC inquiry, Dialogic excludes
such expenses from its non-GAAP measures primarily because they are not
indicative of ongoing operating results. Further, excluding this item
from non-GAAP measures facilitates management’s internal comparisons to
our historical operating results.

This press release may contain forward-looking statements regarding
future events that involve risks and uncertainties. Readers are
cautioned that these forward-looking statements are only predictions and
may differ materially from actual future events or results. These
forward-looking statements involve risks and uncertainties, as well as
assumptions that if they do not fully materialize or prove incorrect,
could cause our results to differ materially from those expressed or
implied by such forward-looking statements. The risks and uncertainties
that could cause our results to differ materially from those expressed
or implied by such forward-looking statements include but are not
limited to our ability to generate positive cash flow, the potential
market for and market acceptance of our products, industry and
competitive market conditions, gross margin expansion, creating new
revenue opportunities, reducing operating expenses and other risks and
uncertainties described more fully in our documents filed with or
furnished to the SEC. More information about these and other risks that
may impact Dialogic’s business is set forth in the “Risk Factors”
section in our Annual Report on Form 10-K for the year ended
December 31, 2011, as filed with the SEC. These filings are available on
a website maintained by the SEC
http://www.sec.gov/ .
All forward-looking statements in this press release are based on
information available to us as of the date hereof, and we assume no
obligation to update these forward-looking statements.

Dialogic is a registered trademark of Dialogic Inc. or a subsidiary. All
other company and product names may be trademarks of the respective
companies with which they are associated.

FINANCIAL TABLES

DIALOGIC INC.
Condensed Consolidated Statements of Operations
(In thousands, except per share data, unaudited)
Three Months Ended
March 31, December 31, March 31,
——————- —————– —————-
2012 2011 2011
——————- —————– —————-
Revenues:
Products $ 31,510 $ 38,660 $ 36,210
Services 9,597 11,352 8,654
——- —— ——-
Total revenues 41,107 50,012 44,864
——- —— ——-
Cost of Revenues:
Products 11,067 15,753 13,943
Services 5,171 5,207 5,350
——- —— ——-
Total cost of revenues 16,238 20,960 19,293
——- —— ——-
Gross profit 24,869 29,052 25,571
——- —— ——-
Operating Expenses:
Research and development, net 12,823 12,300 14,790
Sales and marketing 11,611 12,464 14,879
General and administrative 7,585 8,369 8,970
Restructuring charges 57 793 3,985
——- —— ——-
Total operating expenses 32,076 33,926 42,624
——- —— ——-
Loss from operations (7,207) (4,874) (17,053)
Interest and other income (expense) (83) 76 (24)
Interest expense, related party (4,100) (4,789) (3,568)
Changes to fair value of warrants (2,233) – -
Foreign exchange gains (losses), net (102) 118 (132)
——- — —— ——- —
Loss before income taxes (13,725) (9,469) (20,777)
Income taxes provision (benefit) 360 (306) 502
——- —— —- ——-
Net loss $ (14,085) $ (9,163) $ (21,279)
====== ======= === ==== ====== ==== === ======= ===
Net loss allocable to common stockholders per share – basic $ (0.45) $ (0.29) $ (0.68)
and
diluted
====== ======= === ==== ====== ==== === ======= ===
Weighted-average shares outstanding used in computing net loss 31,495 31,113 31,219
per
share — basic and diluted:
====== ======= === ==== ====== ==== === ======= ===

DIALOGIC INC.
Reconciliation of Condensed Consolidated Statement of Operations
to Adjusted EBITDA results
(In thousands, except per share data, unaudited)
Three Months Ended
March 31, 2012
----------------
Statement of Adjustments Adjusted
Operations EBITDA
---------------- ------------ ----------
Revenues:
Products $ 31,510 $ 170 B $ 31,680
Services 9,597 307 B 9,904
------- ------ ------
Total revenues 41,107 477 41,584
------- ------ ------
Cost of Revenues:
Products 11,067 (1,650) A,B,C, F 9,417
Services 5,171 - 5,171
------- ------ ------
Total cost of revenues 16,238 (1,650) 14,588
------- ------ --- ------
Gross profit 24,869 2,127 26,996
------- ------ ------
Operating Expenses:
Research and development, net 12,823 (592) A,C 12,231
Sales and marketing 11,611 (1,037) A,C 10,574
General and administrative 7,585 (929) A,C,D,E,G 6,656
Restructuring charges 57 (57) -
------- ------ --- ------
Total operating expenses 32,076 (2,615) 29,461
------- ------ --- ------
Loss from operations (7,207) 4,742 (2,465)
Interest and other income (expense) (83) 83 -
Interest expense, related party (4,100) 4,100 -
Changes to fair value of warrants (2,233) 2,233 -
Foreign exchange gains (losses), net (102) 102 -
------- --- ------ ------
Loss before income taxes (13,725) 11,260 (2,465)
Income taxes provision (benefit) 360 (360) -
------- ------ --- ------
Net loss $ (14,085) $ 11,620 $ (2,465)
====== ======= === === ====== == ====== ==

DIALOGIC INC.
Reconciliation of Condensed Consolidated Statement of Operations
to Adjusted EBITDA results
(In thousands, except per share data, unaudited)
Three Months Ended
December 31, 2011
----------------
Statement of Adjustments Adjusted
Operations Non-GAAP
---------------- ------------ ----------
Revenues:
Products $ 38,660 $ 144 B $ 38,804
Services 11,352 281 B 11,633
------ ------ ------
Total revenues 50,012 425 50,437
------ ------ ------
Cost of Revenues:
Products 15,753 (3,693) A,B,C,F 12,060
Services 5,207 - 5,207
------ ------ ------
Total cost of revenues 20,960 (3,693) 17,267
------ ------ --- ------
Gross profit 29,052 4,118 33,170
------ ------ ------
Operating Expenses:
Research and development, net 12,300 (575) A,C 11,725
Sales and marketing 12,464 (1,466) A,C 10,998
General and administrative 8,369 (2,323) A,C,D,E 6,046
Restructuring charges 793 (793) -
------ ------ --- ------
Total operating expenses 33,926 (5,157) 28,769
------ ------ --- ------
Loss from operations (4,874) 9,275 4,401
Interest and other income (expense) 76 (76) -
Interest expense, related party (4,789) 4,789 -
Foreign exchange gains (losses), net 118 (118) -
------ ------ --- ------
Loss before income taxes (9,469) 13,870 4,401
Income taxes provision (benefit) (306) 306 -
------ ---- ------ ------
Net loss $ (9,163) $ 13,564 $ 4,401
====== ====== ==== === ====== ==== ======

DIALOGIC INC.
Reconciliation of Condensed Consolidated Statement of Operations
to Adjusted EBITDA results
(In thousands, except per share data, unaudited)
Three Months Ended
March 31, 2011
----------------
Statement of Adjustments Adjusted
Operations EBITDA
---------------- ------------ ----------
Revenues:
Products $ 36,210 $ 159 B $ 36,369
Services 8,654 871 B 9,525
------- ------ ------
Total revenues 44,864 1,030 45,894
------- ------ ------
Cost of Revenues:
Products 13,943 (2,300) A,B,C 11,643
Services 5,350 - 5,350
------- ------ ------
Total cost of revenues 19,293 (2,300) 16,993
------- ------ --- ------
Gross profit 25,571 3,330 28,901
------- ------ ------
Operating Expenses:
Research and development, net 14,790 (576) A,C 14,214
Sales and marketing 14,879 (1,862) A,C 13,017
General and administrative 8,970 (1,209) A,C,D 7,761
Merger costs - - -
Restructuring charges 3,985 (3,985) -
------- ------ --- ------
Total operating expenses 42,624 (7,632) 34,992
------- ------ --- ------
Loss from operations (17,053) 10,962 (6,091)
Interest and other income (expense) (24) 24 -
Interest expense, related party (3,568) 3,568 -
Foreign exchange gains (losses), net (132) 132 -
------- --- ------ ------
Loss before income taxes (20,777) 14,686 (6,091)
Income taxes provision (benefit) 502 (502) -
------- ------ --- ------
Net loss $ (21,279) $ 15,188 $ (6,091)
====== ======= === === ====== == ====== ==

(A) Stock-based compensation for the three months ended March
31, 2012, December 31, 2011 and March 31,
2011 was as
follows:
March 31, December 31, March 31,
2012 2011 2011
----------- ------------ ----------
Cost of revenues $ 84 $ 79 $ 76
Research and development, net 240 199 143
Sales and marketing 222 196 164
General and administrative 140 225 369
----- ------ -----
$ 686 $ 699 $ 752
===== ===== ====== ====== ===== =====
(B) Purchase price adjustments for the three months ended March
31, 2012, December 31, 2011 and March 31,
2011 was as
follows:
March 31, December 31, March 31,
2012 2011 2011
----------- ------------ ----------
Revenues:
Products $ 170 $ 144 $ 159
Services 307 281 871
----- ------ -----
Total revenues 477 425 1,030
===== ====== =====
Cost of Revenues:
Products - 18 49
----- ------ -----
Total cost of revenues - 18 49
===== ====== =====
Operating Expenses:
Sales and Marketing - - 392
----- ------ -----
Total operating expenses $ - $ - $ 392
===== ===== ====== ====== ===== =====
(C) Depreciation and amortization for the three months ended
March 31, 2012, December 31, 2011 and March
31, 2011
was as follows:
March 31, December 31, March 31,
2012 2011 2011
----------- ------------ ----------
Cost of revenues $ 1,566 $ 2,096 $ 2,175
Research and development, net 352 376 433
Sales and marketing 815 1,270 1,306
General and administrative 578 776 840
----- ------ -----
$ 3,311 $ 4,518 $ 4,754
===== ===== ====== ====== ===== =====
(D) SEC Inquiry for the three months ended March 31, 2012,
December 31, 2011 and March 31, 2011 was as
follows:
March 31, December 31, March 31,
2012 2011 2011
----------- ------------ ----------
General and administrative $ (237) $ 1,147 $ -
----- ----- - ------ ------ ----- -----
$ (237) $ 1,147 $ -
===== ===== = ====== ====== ===== =====
(E) Integration for the three months ended March 31, 2012,
December 31, 2011 and March 31, 2011 was as
follows:
March 31, December 31, March 31,
2012 2011 2011
----------- ------------ ----------
General and administrative $ 148 $ 175 $ -
----- ----- ------ ------ ----- -----
$ 148 $ 175 $ -
===== ===== ====== ====== ===== =====
(F) Litigation settlement for the three months ended March 31,
2012, December 31, 2011 and March 31,
2011 was as
follows:
March 31, December 31, March 31,
2012 2011 2011
----------- ------------ ----------
Cost of revenues $ - $ 1,500 $ -
----- ----- ------ ------ ----- -----
General and administrative $ - $ 1,500 $ -
===== ===== ====== ====== ===== =====
(G) Debt restructuring costs for three months ended March 31,
2012, December 31, 2011 and March 31, 2011
was as
follows:
March 31, December 31, March 31,
2012 2011 2011
----------- ------------ ----------
General and administrative $ 300 $ - $ -
----- ----- ------ ------ ----- -----
$ 300 $ - $ -
===== ===== ====== ====== ===== =====

DIALOGIC INC. AND SUBSIDIARIES
Condensed Consolidated Balance Sheets
(In thousands, except share and per share amounts)
Unaudited Unaudited
----------------- -------------------
March 31, December 31,
2012 2011
-------------- ----------------
ASSETS
Current assets:
Cash and cash equivalents $ 5,123 $ 10,353
Restricted cash 1,550 1,497
Accounts receivable, net 48,334 47,460
Inventories 18,581 20,127
Prepaid expenses 3,591 3,580
Deferred taxes 7 -
Other current assets 6,095 5,577
-------- --------
Total current assets 83,281 88,594
Property and equipment, net 7,492 7,947
Intangible assets, net 31,060 33,267
Goodwill 31,223 31,223
Deferred debt issuance costs, net 454 286
Deferred taxes 611 550
Other assets 1,542 1,475
-------- --------
Total assets $ 155,663 $ 163,342
=== ======== ==== ========
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
$ 12,285 $ 12,509
Bank indebtedness
Accounts payable 27,394 21,569
Accrued liabilities 19,616 23,417
Deferred revenue 15,993 14,872
Income tax payable 1,502 1,665
Short-term debt, related party - -
Interest payable on long-term debt 117 3,452
-------- --------
Total current liabilities 76,907 77,484
Long-Term liabilities:
Long-term debt, related party 90,523 94,675
Warrants 10,705 -
Accrued restructuring 2,275 2,471
Income taxes payable 2,362 2,338
Deferred revenue 1,775 1,810
-------- --------
Total liabilities 184,547 178,778
Commitments and contingencies
Stockholders' equity:
Common shares and additional paid-in capital 222,779 222,093
Accumulated other comprehensive (loss) (22,255) (22,206)
Accumulated deficit (229,408) (215,323)
-------- --- -------- ----
Total stockholders' equity (deficit) (28,884) (15,436)
-------- --- -------- ----
Total liabilities and stockholders' equity (deficit) $ 155,663 $ 163,342
=== ======== ==== ========

SOURCE: Dialogic Inc.

Investor Relations:
MBS Value Partners
Ron Vidal, 212-750-5800
ron.vidal@mbsvalue.com
or
Dialogic Inc.
Vice President, Strategic Planning & IR
Andrew Goldberg, 973-967-6425
Andrew.Goldberg@dialogic.com

Copyright Business Wire 2012

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Add to portfolio

DLGC

Dialogic Inc.

US

: U.S.: Nasdaq

$
0.79

-0.01
-1.26%

Volume: 18,836
May 15, 2012 4:00p

P/E RatioN/A
Dividend YieldN/A

Market Cap$25.20 million
Rev. per Employee$240,504

/quotes/zigman/611063/quotes/nls/dlgc

Add to portfolio

DLGC

Dialogic Inc.

US

: U.S.: Nasdaq

$
0.79

-0.01
-1.26%

Volume: 18,836
May 15, 2012 4:00p

P/E RatioN/A
Dividend YieldN/A

Market Cap$25.20 million
Rev. per Employee$240,504

Financial Glossary

Words used in this article:

LOS ANGELES, May 9, 2012 /PRNewswire via COMTEX/ –
Ironclad Performance Wear Corporation (ICPW.OB), the recognized leader in high-performance task-specific gloves, announced financial results for the first quarter ended March 31, 2012.

First Quarter 2012 Results The company reported record net sales for the first quarter of $5.35 million, an increase of 57% percent from $3.40 million in the first quarter of 2011.

Gross profit increased 42% to $1.95 million, or 36.5% of net sales, compared to $1.38 million, or 40.5% of net sales in the first quarter of 2011.

Operating expenses as a percent of net sales decreased to 32%, or $1.72 million, compared to 45% of net sales, or $1.53 million, during the same period last year.

Net income from operations was $228,496, a 246% improvement from a net loss of ($156,479) during the same period in 2011.

Net income increased $505,023 to $246,986 in the first quarter 2012, a 196% improvement from a net loss of ($258,037) in the same period last year.

“Ironclad’s financial performance for the first quarter was particularly strong, given that Q1 is historically our most challenging quarter,” said Scott Jarus, Chairman and CEO of Ironclad. “In fact, we had record sales and our first-ever profitable Q1. These record results were driven by double-digit sales growth in both our industrial and co-branded product segments.”

Mr. Jarus added: “It is important to note that the year-over-year decline in the gross profit percentage is primarily due to strong growth in Ironclad’s co-branded and international businesses which, in most cases, do not require us to expend any effort or capital on marketing, sales and logistics on behalf of these co-branded and international partners. Consequentially, sales to these segments don’t share as much of the SG&A burden as our other business segments. So, effectively, their net contribution to the company’s bottom line is very comparable to our traditional Ironclad-branded glove sales.”

Guidance for 2012 Ironclad reaffirms its full-year guidance outlined on February 29, 2012. Ironclad expects that net sales for 2012 will increase 15% – 20% to $24.6 million to $25.7 million.

EBITDA, a non-GAAP term (i.e. Earnings Before Interest, Taxes, Depreciation, Amortization and ASC 718 non-cash stock option expense), is expected to be between approximately $2.0 million to $2.4 million, or a 19% to 42% increase from 2011. Earnings per share are expected to increase marginally.

This guidance is based upon organic growth only, and does not contemplate acquisition opportunities which, if identified and concluded, would be expected to be accretive to both 2012 net sales and net income.

Mr. Jarus concluded: “Our financial results for 2011 and the first quarter of 2012 demonstrated the company’s ability to leverage the Ironclad brand and expertise to produce innovative products for growth and profitability. We realize this 2012 guidance would imply a slower growth than 2011; however, it is important to keep in mind that at this early stage in the year – when buyers are still making decisions regarding placement opportunities for later this year – we do not yet have sufficient visibility to expect a higher growth rate. That being said, there are significant market opportunities ahead for us, including Ironclad’s entry into the outdoor sporting goods market through our Coleman branded gloves, and the continued growth seen with Ironclad’s existing customers. In addition, we expect our most technical gloves, such as the KONG glove line for the oil & gas industry, to experience continued market expansion around the world.”

Conference Call Ironclad Performance Wear will hold a conference call to discuss first quarter 2012 financial results today, Wednesday, May 9, at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time). To participate in the conference call, dial (877) 941-1427 ten minutes prior to the call. International callers should dial 1+ (480) 629-9664.

If you are unable to participate in the live call, a replay will be available through May 23, 2012. To access the replay, dial (877) 870-5176 (passcode:4532690). International callers should dial 1+ (858) 384-5517 and use the same passcode.

In addition, the conference call will also be broadcast live over the Internet and can be accessed at
www.ironclad.com . The webcast will be archived on Ironclad’s website through May 23, 2012.

The company’s financial results and other investor information are posted online at
www.ironclad.com/investor-relations .

About Ironclad Performance Wear Corporation Ironclad Performance Wear is a leader in high-performance task-specific work gloves. It created the performance work glove category in 1998, and continues to leverage its leadership position in the safety, construction and industrial markets through the design, development and distribution of specialized task-specific gloves for industries such as oil & gas extraction; automotive; and police, fire, first-responder and military. Ironclad engineers and manufactures its products with a focus on innovation, design, advanced material science and durability. Ironclad’s gloves are available through industrial suppliers, hardware stores, home centers, lumber yards, and sporting goods retailers nationwide; and through authorized distributors in North America, Europe, Australia and Asia.

Built Tough for the Industrial Athlete(TM)

For more information on Ironclad, please visit
www.ironclad.com .

Contacts Scott Jarus, CEO scottj@ironclad.com (310) 643-7800 x120

Justin Vaicek Liolios Group, Inc. ICPW@liolios.com (949) 574-3860

Information about Forward-Looking Statements This release contains “forward-looking statements” that include information relating to future events and future financial and operating performance. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management’s good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for Ironclad’s products, the introduction of new products, Ironclad’s ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of Ironclad’s liquidity and financial strength to support its growth, and other information that may be detailed from time-to-time in Ironclad’s filings with the United States Securities and Exchange Commission. Examples of such forward looking statements in this release include statements regarding guidance about and achievement of financial goals and exceptional performance for 2012, increasing interest and sales of Ironclad’s products, market opportunities presented by new products and/or customers and Ironclad’s profitability in 2012. For a more detailed description of the risk factors and uncertainties affecting Ironclad, please refer to the company’s recent Securities and Exchange Commission filings, which are available at
www.sec.gov . Ironclad undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Information about Non-GAAP Financial Measures This release contains disclosure regarding the non-GAAP financial measure EBITDA, which also includes non-cash stock option expense (i.e. Earnings Before Interest, Taxes, Depreciation, Amortization and ASC 718 stock option expense). The company believes that use of EBITDA, which also includes non-cash stock option expense, as a supplemental measure of performance improves the transparency of the company’s disclosures. This non-GAAP financial measure is not a substitute for GAAP financial results, and should only be considered in conjunction with the company’s financial information that is presented in accordance with GAAP.

Ironclad Performance Wear Corp.
CONDENSED CONSOLIDATED BALANCE SHEETS
March 31, 2012 December 31, 2011
ASSETS (unaudited)
Current Assets
Cash and cash equivalents $ 853,935 $ 1,060,125
Accounts receivable net of allowance for doubtful accounts of $37,000 2,183,789 798,004
Due from Factor 662,920 2,462,973
Inventory net of reserve of $460,000 3,900,716 4,449,315
Deposits on Inventory 584,848 467,063
Prepaid and other 259,233 265,652
Total Current Assets 8,445,441 9,503,132
Property and Equipment
Computer equipment and software 510,529 486,066
Vehicles 43,680 43,680
Office equipment and furniture 165,547 162,871
Leasehold improvements 43,589 43,589
Less: accumulated depreciation (453,405) (416,672)
Total Property and Equipment, net 309,940 319,534
Other Assets
Trademarks and patents, net of accumulated amortization of $33,966 and $31,915 131,261 131,412
Deposits 11,354 11,354
Total Other Assets 142,615 142,766
Total Assets $ 8,897,996 $ 9,965,432
LIABILITIES & STOCKHOLDERS’ EQUITY
Current Liabilities
Accounts payable and accrued expenses $ 2,278,187 $ 2,560,504
Line of credit 443,853 1,661,220
Total current liabilities 2,722,040 4,221,724
Total Liabilities 2,722,040 4,221,724
Stockholder’s Equity
Common stock, $.001 par value; 172,744,750 shares authorized; 76,354,001
and 74,550,754 shares issued and outstanding at March 31, 2012 and
December 31, 2011, respectively 76,317 74,551
Capital in excess of par value 18,722,058 18,538,563
Accumulated deficit (12,622,419) (12,869,406)
Total Stockholders’ Equity 6,175,956 5,743,708
Total Liabilities & Stockholders’ Equity $ 8,897,996 $ 9,965,432

Ironclad Performance Wear Corp.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
Three Months Ended Three Months Ended
March 31, 2012 March 31, 2011
REVENUES
Net sales $ 5,347,865 $ 3,397,128
COST OF SALES
Cost of sales 3,394,516 2,020,959
GROSS PROFIT 1,953,349 1,376,169
EXPENSES
General and administrative 622,008 593,588
Sales and marketing 684,571 612,223
Research and development 129,707 83,864
Purchasing, warehousing and distribution 249,783 213,695
Depreciation and amortization 38,784 29,278
Total Operating Expenses 1,724,853 1,532,648
INCOME FROM OPERATIONS 228,496 (156,479)
OTHER INCOME (EXPENSE)
Interest expense (9,077) (24,621)
Interest income 11,892 13
Other income (expense), net 54,675 -
Total Other Income (Expense), Net 57,490 (24,608)
NET INCOME BEFORE INCOME TAXES 285,986 (181,087)
PROVISION FOR INCOME TAXES 39,000 76,950
NET INCOME $ 246,986 $ (258,037)
NET INCOME PER COMMON SHARE
Basic $0.00 ($0.00)
Diluted $0.00 ($0.00)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
Basic 74,986,329 72,951,185
Diluted 83,539,450 81,207,361

SOURCE Ironclad Performance Wear Corporation

Copyright (C) 2012 PR Newswire. All rights reserved

Financial Glossary

Words used in this article:

ST. LOUIS, MO, May 09, 2012 (MARKETWIRE via COMTEX) –
Stifel Financial Corp.

/quotes/zigman/242086/quotes/nls/sf SF
+0.03%

Highlights for the three months ended March 31, 2012:

— Net revenues of $400.3 million.
— Net income of $34.8 million, or $0.55 per diluted share.
— Stockholders’ equity totaled $1.34 billion and book value per share
was $25.07.

Stifel Financial Corp.

/quotes/zigman/242086/quotes/nls/sf SF
+0.03%

today reported net income of $34.8
million, or $0.55 per diluted share, on net revenues of $400.3
million for the three months ended March 31, 2012, compared with net
income of $31.4 million, or $0.50 per diluted share, on net revenues
of $366.6 million for the first quarter of 2011. The company reported
net income of $27.0 million, or $0.43 per diluted share, on net
revenues of $356.9 million for the three months ended December 31,
2011.

"The first quarter of 2012 proved to be our second best quarter in
terms of net revenues, net income and diluted EPS. The overall
improvement in the economy positively impacted both our Global Wealth
Management and Institutional Group's businesses during the quarter,
particularly in investment banking and fixed income trading. During
the quarter, we continued to expand our retail platform as a result
of successful recruiting of financial advisors," commented Ronald J.
Kruszewski, Chairman, President and CEO of Stifel Financial.
"Increased levels of activity can be attributed to strong performance
of the equity markets, improving investor sentiment, lower
volatility, and increased risk taking as evidenced by improved
pricing and performance for new offerings. However, outside of a
major event or catalyst to move the markets, we remain cautious on
the outlook for the remainder of the year. That said, we continue to
believe we are well positioned to gain market share from the
dislocation in the marketplace and changing regulatory requirements."

----------------------------------------------------------------------------

Summary Results of Operations (Unaudited)
----------------------------------------------------------------------------
Three Months Ended
-----------------------------------------------
(in 000s) 3/31/12 3/31/11 % Change 12/31/11 % Change
--------- --------- -------- --------- --------
Net revenues $ 400,333 $ 366,613 9.2 $ 356,878 12.2
Net income $ 34,773 $ 31,398 10.7 $ 27,016 28.7
Earnings per share:
Basic $ 0.65 $ 0.60 8.3 $ 0.52 25.0
Diluted $ 0.55 $ 0.50 10.0 $ 0.43 27.9
Weighted average number of common shares
outstanding:
Basic 53,243 52,534 1.3 51,849 2.7
Diluted 62,669 63,179 (0.8) 62,695 --

----------------------------------------------------------------------------

Business Segment Results

----------------------------------------------------------------------------

Summary Segment Results (Unaudited)
----------------------------------------------------------------------------
Three Months Ended
-----------------------------------------------
(in 000s) 3/31/12 3/31/11 % Change 12/31/11 % Change
--------- --------- -------- --------- --------
Net revenues:
Global Wealth Management $ 248,348 $ 238,446 4.2 $ 224,569 10.6
Institutional Group 148,504 126,994 16.9 134,229 10.6
Other 3,481 1,173 196.8 (1,920) 281.3
--------- --------- -------- --------- --------
$ 400,333 $ 366,613 9.2 $ 356,878 12.2
--------- --------- -------- --------- --------
Operating contribution:
Global Wealth Management $ 69,178 $ 61,472 12.5 $ 62,872 10.0
Institutional Group 23,704 21,393 10.8 10,773 120.0
Other (33,628) (32,181) 4.5 (28,619) 17.5
--------- --------- -------- --------- --------
$ 59,254 $ 50,684 16.9 $ 45,026 31.6
--------- --------- -------- --------- --------

----------------------------------------------------------------------------

Global Wealth Management

For the quarter ended March 31, 2012, the Global Wealth Management
("GWM") segment generated pre-tax operating income of $69.2 million,
compared with $61.5 million in the first quarter of 2011 and $62.9
million in the fourth quarter of 2011. Net revenues for the quarter
were $248.3 million, compared with $238.4 million in the first
quarter of 2011, and $224.6 million in the fourth quarter of 2011.
The increase in net revenues from the first quarter of 2011 is
primarily attributable to an increase in net interest revenues and
investment banking revenues, as well as asset management and service
fees and principal transactions revenues, offset by a decrease in
commissions. The increase in net revenues from the fourth quarter of
2011 was primarily attributable to an increase in commissions and
principal transactions revenues, investment banking revenues and
asset management and service fees.

-- The Private Client Group reported record net revenues of $232.3
million, a 1% increase compared with the first quarter of 2011 and a
13% increase compared with the fourth quarter of 2011.
-- Stifel Bank reported net revenues of $16.0 million, an 80% increase
compared with the first quarter of 2011 and an 18% decrease compared
with the fourth quarter of 2011.

Institutional Group

For the quarter ended March 31, 2012, the Institutional Group segment
generated pre-tax operating income of $23.7 million, compared with
$21.4 million in the first quarter of 2011 and $10.8 million in the
fourth quarter of 2011. Net revenues for the quarter were $148.5
million, compared with $127.0 million in the first quarter of 2011
and $134.2 million in the fourth quarter of 2011. The increase in net
revenues from the first quarter of 2011 was primarily attributable to
an increase in capital raising and advisory fees, and an increase in
fixed income institutional brokerage revenues, offset by a decrease
in equity institutional brokerage revenues. The increase in net
revenues from the fourth quarter of 2011 was primarily attributable
to an increase in equity capital raising and equity and fixed income
institutional brokerage revenues, offset by a decline in equity
advisory fees.

Institutional brokerage revenues were $89.5 million, a 1% decrease
compared with the first quarter of 2011 and an 11% increase compared
with the fourth quarter of 2011.

-- Equity brokerage revenues were $44.2 million, a 16% decrease compared
with the first quarter of 2011 and a 9% increase compared with the
fourth quarter of 2011.
-- Fixed income brokerage revenues were $45.3 million, an 18% increase
compared with the first quarter of 2011 and a 14% increase compared
with the fourth quarter of 2011.

Investment banking revenues were $58.0 million, a 65% increase compared
with the first quarter of 2011 and an 11% increase compared with the
fourth quarter of 2011.

-- Equity capital raising revenues were $31.6 million, a 37% increase
compared with the first quarter of 2011 and a 212% increase compared
with the fourth quarter of 2011.
-- Fixed income capital raising revenues were $10.8 million, a 256%
increase compared with the first quarter of 2011 and an 18% decrease
compared with the fourth quarter of 2011.
-- Advisory fee revenues were $15.6 million, a 72% increase compared with
the first quarter of 2011, and a 46% decrease compared with the fourth
quarter of 2011.

Consolidated Compensation and Benefits Expenses

For the quarter ended March 31, 2012, compensation and benefits
expenses were $254.7 million, compared with $231.2 million in the
first quarter of 2011 and $228.7 million in the fourth quarter of
2011.

Compensation and benefits as a percentage of net revenues was 64% in
the first quarter of 2012 compared with 63% in the first quarter of
2011 and 64% in the fourth quarter of 2011. Transition pay, which
primarily consists of amortization of upfront notes, signing bonuses
and retention awards, as a percentage of net revenues was 5% in the
first quarter of 2012, consistent with the first and fourth quarters
of 2011.

Consolidated Non-Compensation Operating Expenses

For the quarter ended March 31, 2012, non-compensation operating
expenses were $86.4 million, compared with $84.8 million in the first
quarter of 2011 and $83.1 million in the fourth quarter of 2011.

Non-compensation operating expenses as a percentage of net revenues
for the quarter ended March 31, 2012 was 22% compared with 23% in the
first quarter of 2011 and 23% in the fourth quarter of 2011.

Provision for Income Taxes

The effective income tax rate for the quarter ended March 31, 2012
was 41% compared with 38% in the first quarter of 2011 and 40% in the
fourth quarter of 2011.

Statement of Financial Condition (Unaudited)

Total assets increased 21% to $5.5 billion as of March 31, 2012 from
$4.5 billion as of March 31, 2011. The increase is primarily
attributable to the growth of the company's bank subsidiary, which as
of March 31, 2012 had grown its assets to $2.6 billion from $1.8
billion as of March 31, 2011. As of March 31, 2012, Stifel Bank's
investment portfolio of $1.7 billion has increased 34% from March 31,
2011, with more than 99% of the investment portfolio comprised of
investment grade securities, of which more than 67% were
Government-Sponsored Enterprise guaranteed MBS or AAA-rated
investments. The company's broker-dealer subsidiary's gross assets
and liabilities, including trading inventory, stock loan/borrow,
receivables and payables from/to brokers, dealers and clearing
organizations and clients, fluctuate with business levels and overall
market conditions.

Total stockholders' equity as of March 31, 2012 increased $55.9
million, or 4%, to $1.34 billion from $1.29 billion as of March 31,
2011. Book value per share was $25.07 as of March 31, 2012 compared
to $24.32 as of March 31, 2011.

As of March 31, 2012, the company reported total securities owned and
investments at fair value of $2.2 billion, which included securities
categorized as Level 3 of $227.0 million. The company's Level 3
assets included auction rate securities and private equity and other
fixed income securities with fair values of $170.3 million and $56.7
million, respectively, as of March 31, 2012.

Conference Call Information

Stifel Financial Corp. will host its first quarter 2012 financial
results conference call on Wednesday, May 9, 2012, at 5:00 p.m.
Eastern time. The conference call may include forward-looking
statements.

All interested parties are invited to listen to the company's
Chairman, President, and CEO, Ronald J. Kruszewski, by dialing (800)
651-2240 and referencing conference ID #74559190. A live audio
webcast of the call, as well as a presentation highlighting the
company's results, will be available through the company's web site,

www.stifel.com . For those who cannot listen to the live broadcast, a
replay of the broadcast will be available through the
above-referenced web site beginning approximately one hour following
the completion of the call.

Company Information

Stifel Financial Corp.

/quotes/zigman/242086/quotes/nls/sf SF
+0.03%

is a financial services holding
company headquartered in St. Louis, Missouri that conducts its
banking, securities, and financial services business through several
wholly owned subsidiaries. Stifel clients are served through Stifel,
Nicolaus & Company, Incorporated in the U.S., through Stifel Nicolaus
Canada Inc. in Canada, and through Stifel Nicolaus Europe Limited in
the United Kingdom and Europe. The company's broker-dealer affiliates
provide securities brokerage, investment banking, trading, investment
advisory, and related financial services to individual investors,
professional money managers, businesses, and municipalities. Stifel
Bank & Trust offers a full range of consumer and commercial lending
solutions. Stifel Trust Company, N.A. offers trust and related
services. To learn more about Stifel Financial, please visit the
company's web site at
www.stifel.com .

Forward-Looking Statements

This earnings release contains certain statements that may be deemed
to be "forward-looking statements" within the meaning of Section 27A
of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. All statements in this earnings release not
dealing with historical results are forward-looking and are based on
various assumptions. The forward-looking statements in this earnings
release are subject to risks and uncertainties that could cause
actual results to differ materially from those expressed in or
implied by the statements. Factors that may cause actual results to
differ materially from those contemplated by such forward-looking
statements include, among other things, the following possibilities:
the ability to successfully integrate acquired companies or the
branch offices and financial advisors; a material adverse change in
financial condition; the risk of borrower, depositor, and other
customer attrition; a change in general business and economic
conditions; changes in the interest rate environment, deposit flows,
loan demand, real estate values, and competition; changes in
accounting principles, policies, or guidelines; changes in
legislation and regulation; other economic, competitive,
governmental, regulatory, geopolitical, and technological factors
affecting the companies' operations, pricing, and services; and other
risk factors referred to from time to time in filings made by Stifel
Financial Corp. with the Securities and Exchange Commission.
Forward-looking statements speak only as to the date they are made.
Stifel Financial Corp. disclaims any intent or obligation to update
forward-looking statements to reflect circumstances or events that
occur after the date the forward-looking statements are made.

----------------------------------------------------------------------------
Summary Results of Operations (Unaudited)
Three Months Ended
----------------------------------------------------------------------------
(in 000s) 3/31/12 3/31/11 % Change 12/31/11 % Change
--------- --------- -------- --------- --------
Revenues:
Commissions $ 123,303 $ 155,786 (20.9) $ 123,737 (0.4)
Principal transactions 116,233 92,859 25.2 93,963 23.7
Investment banking 70,438 41,418 70.1 56,075 25.6
Asset management and
service fees 60,818 57,680 5.4 55,920 8.8
Other income 13,294 6,256 112.3 8,379 58.7
--------- --------- -------- --------- --------
Operating revenues 384,086 353,999 8.5 338,074 13.6
Interest revenue 25,257 18,856 33.9 25,220 0.1
--------- --------- -------- --------- --------
Total revenues 409,343 372,855 9.8 363,294 12.7
Interest expense 9,010 6,242 44.3 6,416 40.4
--------- --------- -------- --------- --------
Net revenues 400,333 366,613 9.2 356,878 12.2
--------- --------- -------- --------- --------

Non-interest expenses:
Compensation and benefits 254,704 231,166 10.2 228,743 11.3
Occupancy and equipment
rental 30,791 29,325 5.0 31,967 (3.7)
Communication and office
supplies 20,373 18,845 8.1 19,391 5.1
Commission and floor
brokerage 7,612 6,649 14.5 6,097 24.8
Other operating expenses 27,599 29,944 (7.8) 25,654 7.6
--------- --------- -------- --------- --------
Total non-interest
expenses 341,079 315,929 8.0 311,852 9.4

Income before income taxes 59,254 50,684 16.9 45,026 31.6
Provision for income
taxes 24,481 19,286 26.9 18,010 35.9
--------- --------- -------- --------- --------
Net income $ 34,773 $ 31,398 10.7 $ 27,016 28.7
========= ========= ======== ========= ========

Earnings per share:
Basic 0.65 0.60 8.3 0.52 25.0
Diluted 0.55 0.50 10.0 0.43 27.9

Weighted average number of common
shares outstanding:
Basic 53,243 52,534 1.3 51,849 2.7
Diluted 62,669 63,179 (0.8) 62,695 --
----------------------------------------------------------------------------

---------------------------------------------------------------------------
(in thousands, except per share data, employee and location amounts)
---------------------------------------------------------------------------
Key statistical
information: 3/31/12 3/31/11 % Change 12/31/11 % Change
------------ ------------ -------- ------------ --------
Book value per
share $ 25.07 $ 24.32 3.1 $ 25.10 (0.1)
Financial
advisors (1) 2,013 1,947 3.4 1,987 1.3
Full-time
associates 5,135 4,916 4.5 5,097 0.7
Locations 326 311 4.8 320 1.9
Total client
assets 127,192,000 115,284,000 10.3 119,362,000 6.6
---------------------------------------------------------------------------

(1) Includes 155, 160 and 154 independent contractors at March 31,
2012 and 2011 and December 31, 2011, respectively.

----------------------------------------------------------------------------

Global Wealth Management Segment
Summary Results of Operations (Unaudited)
Three Months Ended
----------------------------------------------------------------------------
(in 000s) 3/31/12 3/31/11 % Change 12/31/11 % Change
---------- ---------- --------- ---------- ---------
Revenues:
Commissions $ 91,023 $ 101,762 (10.6) $ 83,662 8.8
Principal
transactions 59,045 56,163 5.1 53,700 10.0
Asset management and
service fees 60,586 57,530 5.3 55,691 8.8
Net interest 17,647 11,169 58.0 17,602 0.3
Investment banking 12,470 6,312 97.6 4,015 210.6
Other income 7,577 5,510 37.5 9,899 (23.5)
---------- ---------- --------- ---------- ---------
Net revenues 248,348 238,446 4.2 224,569 10.6
---------- ---------- --------- ---------- ---------
Non-interest expenses:
Compensation and
benefits 143,757 142,586 0.8 125,053 15.0
Non-compensation
operating expenses 35,413 34,388 3.0 36,644 (3.4)
---------- ---------- --------- ---------- ---------
Total non-interest
expenses 179,170 176,974 1.2 161,697 10.8
---------- ---------- --------- ---------- ---------
Income before income
taxes $ 69,178 $ 61,472 12.5 $ 62,872 10.0
========== ========== ========= ========== =========

As a percentage of net
revenues:
Compensation and
benefits 57.9% 59.8% 55.7%
Non-compensation
operating expenses 14.2% 14.4% 16.3%
Income before income
taxes 27.9% 25.8% 28.0%

----------------------------------------------------------------------------

----------------------------------------------------------------------------

Stifel Bank & Trust (Unaudited)
Key Statistical Information
----------------------------------------------------------------------------
(in 000s, except
percentages) 3/31/12 3/31/11 % Change 12/31/11 % Change
---------- ---------- --------- ---------- ---------
Other information:
Assets $2,611,828 $1,787,531 46.1 $2,275,729 14.8
Investment
securities 1,673,866 1,253,953 33.5 1,403,522 19.3
Retained loans, net 657,081 396,244 65.8 631,173 4.1
Loans held for sale 141,136 30,866 357.3 131,754 7.1
Deposits 2,357,912 1,625,890 45.0 2,071,738 13.8

Allowance as a
percentage of loans 0.87% 0.63% 0.83%
Non-performing
assets as a
percentage of total
assets 0.11% 0.12% 0.14%

----------------------------------------------------------------------------

----------------------------------------------------------------------------
Institutional Group Segment
Summary Results of Operations (Unaudited)
Three Months Ended
----------------------------------------------------------------------------
(in 000s) 3/31/12 3/31/11 % Change 12/31/11 % Change
---------- ---------- --------- ---------- ---------
Revenues:
Commissions $ 32,280 $ 54,025 (40.2) $ 40,076 (19.5)
Principal
transactions 57,188 36,696 55.8 40,263 42.0

Capital raising 42,363 26,046 62.6 23,331 81.6
Advisory fees 15,605 9,060 72.2 28,728 (45.7)
---------- ---------- --------- ---------- ---------
Investment banking 57,968 35,106 65.1 52,059 11.4
Other income (2) 1,068 1,167 (8.5) 1,831 (41.7)
---------- ---------- --------- ---------- ---------
Net revenues 148,504 126,994 16.9 134,229 10.6
---------- ---------- --------- ---------- ---------
Non-interest expenses:
Compensation and
benefits 94,024 77,187 21.8 89,497 5.1
Non-compensation
operating expenses 30,776 28,414 8.3 33,959 (9.4)
---------- ---------- --------- ---------- ---------
Total non-interest
expenses 124,800 105,601 18.2 123,456 1.1
---------- ---------- --------- ---------- ---------
Income before income
taxes $ 23,704 $ 21,393 10.8 $ 10,773 120.0
========== ========== ========= ========== =========

As a percentage of net
revenues:
Compensation and
benefits 63.3% 60.8% 66.7%
Non-compensation
operating expenses 20.7% 22.4% 25.3%
Income before income
taxes 16.0% 16.8% 8.0%
----------------------------------------------------------------------------

----------------------------------------------------------------------------
Institutional Group Segment
Institutional Brokerage and Investment Banking Revenues (Unaudited)
Three Months Ended
----------------------------------------------------------------------------
(in 000s) 3/31/12 3/31/11 % Change 12/31/11 % Change
---------- ---------- --------- ---------- ---------
Institutional
brokerage:
Equity $ 44,172 $ 52,398 (15.7) $ 40,598 8.8
Fixed income 45,296 38,323 18.2 39,741 14.0
---------- ---------- --------- ---------- ---------
Institutional
brokerage 89,468 90,721 (1.4) 80,339 11.4

Investment banking:
Capital raising:
Equity 31,550 23,005 37.1 10,109 212.1
Fixed income 10,813 3,041 255.6 13,222 (18.2)
---------- ---------- --------- ---------- ---------
Capital raising 42,363 26,046 62.6 23,331 81.6
Advisory fees 15,605 9,060 72.2 28,728 (45.7)
---------- ---------- --------- ---------- ---------
Investment banking $ 57,968 $ 35,106 65.1 $ 52,059 11.4
----------------------------------------------------------------------------

(2) Includes net interest and other income.

Investor Relations Contact
Sarah Anderson
(415) 364-2500
Email Contact

SOURCE: Stifel Financial Corp.

http://www2.marketwire.com/mw/emailprcntct?id=A91C7B2790E644F3

Copyright 2012 Marketwire, Inc., All rights reserved.

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Stifel Financial Corp.

US

: U.S.: NYSE

$
33.49

+0.01
+0.03%

Volume: 128,385
May 15, 2012 12:15p

P/E Ratio25.11
Dividend YieldN/A

Market Cap$1.80 billion
Rev. per Employee$282,894

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SF

Stifel Financial Corp.

US

: U.S.: NYSE

$
33.49

+0.01
+0.03%

Volume: 128,385
May 15, 2012 12:15p

P/E Ratio25.11
Dividend YieldN/A

Market Cap$1.80 billion
Rev. per Employee$282,894

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Add to portfolio

SF

Stifel Financial Corp.

US

: U.S.: NYSE

$
33.49

+0.01
+0.03%

Volume: 128,385
May 15, 2012 12:15p

P/E Ratio25.11
Dividend YieldN/A

Market Cap$1.80 billion
Rev. per Employee$282,894

Financial Glossary

Words used in this article:

5 days ago 

CHICAGO (AP) — Moms are on the front lines of doling out allowances and shaping their children’s money habits.

And mothers who work in finance have extra knowledge to pass along about how to earn, save and spend it responsibly.

To Rita Cheng, a financial adviser and mother of three in Potomac, Md., there aren’t many more important skills a parent can teach than managing money.

It’s not that she schools her kids on the niceties of annuities, exchange-traded funds or some other complex concept. Her money talk is more about how they should handle their time and their money and what opportunities that can create.

“Those are lifelong skills that will serve you well in all areas of your life,” she says.

Plus, she adds with a laugh, she needs to be ready with an intelligent response when her 13-year-old son accuses her of being cheap for not buying what he wants.

Moms who work as certified financial planners shared the best advice they gave their kids about money — tips suitable for offspring of all ages. Their five top tips:

1. KNOW THE DIFFERENCE BETWEEN NEEDS AND WANTS.

Cheng, who works for Ameriprise Financial, talks a lot about needs versus wants with her son, Christian, and daughters Sarina, 16, and Karolina, 7.

Sometimes it’s difficult to tell the two situations apart, she acknowledges. Other times it’s clear, such as when Karolina, a second-grader, said “I need a cellphone!”

It was different when Sarina, a high schooler, made the case for getting a smartphone. She was on the move a lot from school to babysitting to piano lessons and, in part, wanted to be able to access homework assignments online.

Cheng agreed that Sarina needed a smartphone and bought her one for her 16th birthday. But Cheng realizes that needs and wants differ by family, community and income level.

“In this day and age it is really hard” for parents to differentiate, she says, noting that it’s not easy to keep kids grounded.

2. DON’T SPEND IT ALL IN ONE PLACE.

Money that kids receive as gifts can provide a valuable teaching opportunity.

When she was a pre-teen, Eleanor Blayney’s daughter, Elizabeth, would get $25 from her grandma as a birthday present. Elizabeth would immediately ask, “OK, what costs $25 that I can spend money on?”

That gave Blayney the chance to emphasize that money is divisible.

“You don’t have to spend it all in one place,” says Blayney, consumer advocate for the CFP Board in Washington. “You can spend some, save, invest, give.”

Some parents convey that message by labeling containers for children to divide their money among savings, spending, investing and charity. As part of the lesson, Blayney insisted that half of what Elizabeth later made from part-time jobs had to go into savings.

3. LIVE WITHIN YOUR MEANS.

Lynn Ballou’s approach for giving advice to her kids as well as her clients is to embrace her role as a Jewish mom — meaning, she says, being direct and honest about money with a bit of fun thrown in. Her tips include “Don’t spend money on crap!” and “Don’t be afraid of the b-word (budget)!”

But she says the most important piece of financial advice she gives to her children — daughter Meredith and son Nicholas, both in their early 20s — or anyone else is to live within his or her means.

“If you think your gross (income) is what you make, it’s not,” says Ballou, managing partner of Ballou Plum Wealth Advisors in Lafayette, Calif. “Find out what your take-home is, and learn to live on your take-home. If you can’t, you need to do something else.”

4. WAIT BEFORE BUYING.

Impulse buying is a big trap for children and adults alike.

Blayney’s advice to her daughter was that if she really wants something, resist the initial urge and sleep on it. Put a little space between you and an impulse purchase.

“It’s amazing how much the impulse to spend goes away if you give it time,” Blayney says. “So, give it time, give it time.”

The equivalent advice for clients at the Directions for Women financial advisory service in McLean, Va., where she is president, is to get a good night’s rest and to shop with a list. Just don’t make going to the mall, or shopping, a source of pleasure and entertainment.

5. WORK AT BEING A SMART CONSUMER.

Being a smart consumer starts early, as good money moms know.

Cheng uses simple discount coupons as one way to teach her kids to focus on saving and frugal spending. She got them started on clipping coupons out of the Sunday paper, with the savings going toward buying iTunes gift cards for family entertainment.

“It’s a way to encourage the habit of savings but also make it fun,” she says.

Sometimes the kids even compete to see who gets the coupons first.

“They like it,” she says. “I really want them to be good consumers.”

Personal Finance Writer Dave Carpenter can be reached at www.twitter.com/scribblerdave

Copyright © 2012 The Associated Press. All rights reserved.