OptionsXpress set record Q3 results

OptionsXpress set record Q3 results

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Online options brokerage OptionsXpress has set record third quarter results.

The Chicago-based firm recorded revenue of $64.1m, a 46.1% rise over 2006’s comparative period, while net income rose to $25.26m from $16.26m recorded in during the third quarter a year earlier.

“Our strong results in the third quarter continued to validate our strategy of driving profitable growth by focusing on self-directed retail investors who use options and futures as part of their investing strategy,” said David Fisher, chief executive officer of OptionsXpress. “New account growth climbed to its highest level in a year and customer assets were 32% higher than a year ago. We have seen steady improvement in our marketing over the last nine months and believe there is opportunity for additional gains,” he added in a statement.

OptionsXpress revealed that year-to-date revenues stand at $178.22m against the $137.59m at the corresponding point of 2006. Net income is also up from 2006, as the online options brokerage announced that net profit year-to-data stands at $52.31m.

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