envestnet inc (ENV) Key Developments
Envestnet, Inc. Presents at Sandler O'Neill & Partners Global Exchange and Brokerage Conference, Jun-06-2013 02:00 PM
May 24 13
Envestnet, Inc. Presents at Sandler O'Neill & Partners Global Exchange and Brokerage Conference, Jun-06-2013 02:00 PM. Venue: Le Parker Meridien Hotel, New York, New York, United States.
Envestnet, Inc. Presents at William Blair & Company 33(rd) Annual Growth Stock Conference, Jun-12-2013 12:00 PM
May 24 13
Envestnet, Inc. Presents at William Blair & Company 33(rd) Annual Growth Stock Conference, Jun-12-2013 12:00 PM. Venue: Four Seasons Hotel, Chicago, Illinois, United States.
Envestnet, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2013; Provides Earnings Guidance for the Second Quarter of 2013; Revised Earnings Guidance for the Full Year of 2013
May 16 13
Envestnet, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported net income of $541,000 or $0.02 per diluted share on total revenue was $46,625,000 against net income of $740,000 or $0.02 per diluted share on total revenue was $32,642,000 a year ago. Income from operations was $588,000 compared to $1,232,000 a year ago. Income before income tax provision was $593,000 compared to $1,238,000 a year ago. Adjusted net income of $4,071,000 or $0.12 per diluted share on adjusted revenue was $46,762,000 against net income of $2,201,000 or $0.07 per diluted share on adjusted revenue was $32,642,000 a year ago. Adjusted EBITDA was $8,207,000 compared to $5,094,000 a year ago.
The company expects adjusted EBITDA to increase 73% to 76% in the second quarter 2013 compared to the prior year period. Adjusted revenues for the second quarter should increase between 32% and 33% year-over-year. That includes a deferred revenue fair value adjustment of $23,000 which is the last such amount have from last year’s acquisitions. The company expects second quarter cost of revenues to increase to 47.3% to 47.5% of AUMA revenue.
The company expects effective tax rate in 2013 will be approximately 42% which is a couple of percentage points higher than the rate assumed in 2012. Last quarter the company indicated that it expected to grow revenue by at least 25% this year and adjusted EBITDA by at least 45%. With business as strong as it has been and assuming the backdrop of favorable capital markets remains, the company now expect full year revenue to be at least 30% higher than in 2012 and adjusted EBITDA to be at least 50% higher than last year before any impact from Prudential’s WMS acquisition.
Envestnet, Inc. announced delayed 10-Q filing
May 13 13
On 05/13/2013, Envestnet, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC.
Envestnet, Inc. to Report Q1, 2013 Results on May 16, 2013
May 12 13
Envestnet, Inc. announced that they will report Q1, 2013 results on May 16, 2013