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.

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. announced that they will report Q1, 2013 results on May 16, 2013