Financial Engines, Inc. announced it is expanding its services to include management of Individual Retirement Accounts (IRAs). IRA management includes access to Financial Engines' retirement income feature, Income+. The company is now managing IRA assets for 401(k) participants from select sponsors on multiple custodial platforms. The expansion comes as demand for Income+, the first retirement income solution designed specifically for 401(k) plans, remains strong.

Financial Engines, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the period, the company’s total revenue was $53,865,000 against $41,711,000 a year ago. Income from operations was $9,505,000 against $5,714,000 a year ago. Income before income taxes was $9,508,000 against $5,714,000 a year ago. Net and comprehensive income was $6,192,000 or $0.12 diluted per share against $3,512,000 or $0.07 diluted per share a year ago. Net cash provided by operating activities was $6,221,000 against net cash used in operating activities of $567,000 a year ago. Purchase of property and equipment was $1,292,000 against $575,000 a year ago. Non-GAAP adjusted EBITDA was $16,730,000 against $11,691,000 a year ago. Non-GAAP adjusted net income was $7,917,000 or $0.15 per share against $5,037,000 or $0.10 per share a year ago. On May 2, 2013, the company's board of directors declared a regular quarterly cash dividend of $0.05 per share of the company’s common stock. The cash dividend will be paid on July 5, 2013 to stockholders of record as of the close of business on June 14, 2013. Based on financial markets remaining at May 2, 2013 levels, the company estimates that its 2013 revenue will be in the range of $230 million to $235 million, and its 2013 non-GAAP adjusted EBITDA will be in the range of $73 million to $75 million. The company estimates that from May 2, 2013 market levels, a sustained 1% change in the S&P index on May 2 through the end of 2013, would impact 2013 revenue by approximately 0.43% and 2013 non-GAAP adjusted EBITDA by approximately 0.8%, all else being equal. Revenue growth of 20% to 30% per year, operating margins of 15% to 20%, long-term EPS growth of 25% to 40% per year, assets under management growth of 25% to 30% per year and enrollment rates and plans rolled out for 26 months or more of 12% to 15%.

Financial Engines, Inc., Q1 2013 Earnings Call, May 07, 2013