broadridge financial solutio (5B9) Snapshot

Broadridge Financial Solutions, Inc. announced the signing of multiple new clients for its domestic and cross-border, post-trade solutions in Japan. Broadridge's solutions are helping the Japanese operations of global firms headquartered in North America and Europe, as well as Japanese organizations, significantly improve efficiency while also reducing costs. New clients on-boarded include a top-tier global investment bank now running live on Broadridge's Affiliate Matching & Settlement solution, which is already improving the cost-effectiveness of clearing and settling Japanese equities in Tokyo for its affiliated overseas broker-dealer entities. The solution, now operational at two brokers in Japan, enables firms to rationalize complex cross-border processing flows, match and reconcile inter-company trades, provide custody services such as corporate actions processing, and reduce custodian and network management costs. Broadridge has also signed a series of new client contracts for its JASDEC and Bank of Japan connectivity and processing solutions for on-shore Japanese broker-dealers with equity, Japanese government bond and yen payment operations. Gloss, Broadridge's multi-currency processing solution, was also recently selected for a Japanese organization's foreign bond processing, position management and associated corporate actions. Now live on the solution, the organization has increased automation and enhanced operational controls and accounting processes required to manage the revenue from its investment positions. The solution is deployed with a multi-language, user-friendly interface.

Broadridge Financial Solutions, Inc. Presents at Sandler O'Neill & Partners Global Exchange and Brokerage Conference, Jun-06-2013 04:00 PM. Venue: Le Parker Meridien Hotel, New York, New York, United States. Speakers: Dan Sheldon, Chief Financial Officer, Principal Accounting Officer and Vice President.

Broadridge Financial Solutions, Inc. reported unaudited consolidated financial results for the third quarter and nine months ended March 31, 2013. For the quarter, the company reported revenues of $577 million, GAAP net earnings from continuing operations of $43 million, Non-GAAP net earnings from continuing operations of $50 million, GAAP diluted earnings per share from continuing operations of $0.35, and Non-GAAP diluted earnings per share from continuing operations of $0.39. This compares with revenues of $547 million, GAAP net earnings from continuing operations of $18 million, Non-GAAP net earnings from continuing operations of $41 million, GAAP diluted earnings per share from continuing operations of $0.14, and Non-GAAP diluted earnings per share from continuing operations of $0.32 for the comparable quarter of the previous fiscal year. Fiscal year 2013 Non-GAAP results exclude the impact of Acquisition Amortization and Other Costs, and restructuring charges. In addition, fiscal year 2012 Non-GAAP results exclude the impact of Acquisition Amortization and Other Costs, impairment charges, and IBM Migration costs. The increase in revenue was driven by a positive contribution from recurring fee revenues of approximately $16 million including net new business (defined as closed sales less client losses) and higher distribution revenues of $13 million. For the third quarter of fiscal year 2013, GAAP net earnings from continuing operations increased 140%, primarily due to the impact of the aforementioned Penson Note Receivable impairment charge and IBM Migration costs in the prior year. Non-GAAP net earnings from continuing operations were increased 22%. Earnings from continuing operations before income taxes were $67.7 million against $28.8 for the same period of last year. For the nine months ended March 31, 2013, revenues increased $63 million, or 4%, to $1,566 million, compared to $1,503 million for the comparable period last year. The increase was driven by a positive contribution from recurring fee revenues of approximately $34 million including net new business, acquisitions, higher distribution revenues of $25 million and higher event-driven fee revenues of $6 million. For the nine months ended March 31, 2013, GAAP net earnings from continuing operations of $78 million increased 86% compared to $42 million in the comparable period last year. Non-GAAP net earnings from continuing operations were $94 million compared to $83 million in the comparable period last year. GAAP diluted earnings per share from continuing operations increased to $0.62 per share compared to $0.33 per share for the comparable period last year. Non-GAAP diluted earnings per share from continuing operations were $0.74 per share compared to $0.65 per share for the comparable period last year. The impairment charges and IBM Migration costs decreased GAAP diluted earnings per share by $0.16 and $0.06, respectively, in the same period last year. Earnings from continuing operations before income taxes were $121.0 million against $65.6 for the same period of last year. The company revised earnings guidance for the full year of 2013. The company anticipates recurring revenue growth in the range of 4% to 7% and total revenue growth in the range of 3% to 4%, GAAP earnings from continuing operations before income taxes margins in the range of 13.8% to 14.4%, and Non-GAAP earnings from continuing operations before income taxes margins in the range of 15.1% to 15.7%. Anticipates GAAP diluted earnings per share from continuing operations in the range of $1.60 to $1.70, and Non-GAAP diluted earnings per share from continuing operations in the range of $1.76 to $1.86. Free cash flow is expected to be in the range of approximately $200 million to $250 million. Recurring revenue closed sales are expected to be in the range of $110 million to $150 million. The Non-GAAP earnings margins guidance range excludes the projected impact of Acquisition Amortization and Other Costs, and restructuring charges. The Non-GAAP pre-tax earnings margins and diluted earnings per share guidance ranges increased from the guidance it provided in August 2012 as a result of the exclusion of the impact of Acquisition Amortization and Other Costs which were not excluded in the guidance it provided in August 2012. The company announced restructuring and impairment charges of $3.8 million compared to $22.5 million a year ago.