- Retail DARTs decreased 6.7 percent from March, Professional DARTs
decreased 13.3 percent and Total DARTs decreased 8.9 percent
- Average margin debt balances decreased 0.2 percent, or by $5 million,
to $2.25 billion
- Total retail assets and deposits in customer accounts decreased
5.1 percent to $90 billion
- Gross new accounts totaled 70,256
- Management affirmed 2005 GAAP earnings guidance of $0.93 to $1.08
per share
NEW YORK, May 16 /PRNewswire-FirstCall/ -- E*TRADE FINANCIAL Corporation
(NYSE: ET) today released its Monthly Activity Report for April. The Company
reported monthly Retail Daily Average Revenue Trades (DARTs) of 79,300 and
Professional DARTs of 35,900 for Total DARTs of 115,200. Average margin debt
balances and month-end margin debt balances decreased 0.2 percent and 0.8
percent, respectively, to $2.25 billion. The Company added total gross new
accounts of 70,256 and generated net new account growth of 14,150 -- the
strongest net account growth since December 2004. In addition, management
affirmed its 2005 GAAP earnings guidance of between $0.93 and $1.08 per share.
"The benefits of a broad product offering that includes trading,
investing, borrowing and cash management relationships with our customers
continues to differentiate E*TRADE FINANCIAL within the industry," said R.
Jarrett Lilien, President and Chief Operating Officer, E*TRADE FINANCIAL. "We
are also pleased with the market share gains we have realized since the
rollout of our E*TRADE Complete offering, which included the upgrade of over
one million accounts and the launch of a new marketing campaign to drive
growth in accounts, assets, borrowings and product utilization. Our ability
to effectively monetize cash and integrate lending relationships within our
bank balance sheet provides a unique growth opportunity against the backdrop
of a soft retail trading environment."
KEY PERFORMANCE METRICS
Apr-05 Apr-05 vs.
vs. Qtr Ended Qtr Ended
Apr-05 Mar-05 Mar-05 3/31/05 3/31/05
Trading Days 21.0 22.0 N.M. 61.0 N.M.
Daily Average
Revenue Trades
(DARTs)
Retail 79,316 85,040 (6.7)% 88,075 (9.9)%
US 65,926 71,433 (7.7)% 74,133 (11.1)%
International 13,390 13,607 (1.6)% 13,942 (4.0)%
Professional 35,890 41,411 (13.3)% 46,695 (23.1)%
Total DARTs 115,206 126,451 (8.9)% 134,770 (14.5)%
Market Making
Equity Shares
traded (MM) 9,861 14,418 (31.6)% 57,385 N.M.
Average revenue
capture per
1,000 shares $0.492 $0.419 17.4% $0.329 49.5%
Gross New Accounts
Investing/
Trading accounts 51,693 38,967 N.M. 133,951 N.M.
Deposit/
Lending accounts 18,563 27,599 N.M. 58,454 N.M.
Total gross
new accounts 70,256 66,566 N.M. 203,809 N.M.
Active Accounts
Investing/
Trading accounts 2,986,705 2,975,744 0.4% 2,975,744 0.4%
Deposit/
Lending accounts 645,453 642,264 0.5% 642,264 0.5%
Total active
accounts end of
period 3,632,158 3,618,008 0.4% 3,618,008 0.4%
End of period
margin debt($MM) $2,249 $2,266 (0.8)% $2,266 (0.8)%
Average margin
debt ($MM) $2,247 $2,252 (0.2)% $2,239 0.4%
Retail Assets/
Deposits ($MM)
Retail client assets
in investing
accounts $77,531 $82,336 (5.8)% $82,336 (5.8)%
Retail deposits
in customer
accounts $12,485 $12,520 (0.3)% $12,520 (0.3)%
Total retail
assets/deposits
in customer
accounts $90,016 $94,856 (5.1)% $94,856 (5.1)%
Loan Originations ($MM)
Direct mortgage
originations $155 $277 (43.9)% $627 N.M.
Consumer loan
originations,
incl HELOCs $191 $220 (13.3)% $489 N.M.
Historical monthly metric data from January 2003 to April 2005 can be
found on the E*TRADE FINANCIAL investor relations site at
http://www.etrade.com.
About E*TRADE FINANCIAL
The E*TRADE FINANCIAL family of companies provides financial services
including trading, investing, banking and lending for retail and institutional
customers. Securities products and services are offered by E*TRADE Securities
LLC (Member NASD/SIPC). Bank and lending products and services are offered by
E*TRADE Bank, a Federal savings bank, Member FDIC, or its subsidiaries.
Important Notice
E*TRADE FINANCIAL and the E*TRADE FINANCIAL logo are registered trademarks
or trademarks of E*TRADE FINANCIAL Corporation. The statements contained in
this news release that are forward-looking are based on current expectations
that are subject to a number of uncertainties and risks, and actual results
may differ materially. The uncertainties and risks include, but are not
limited to, changes in market activity, anticipated increases in the rate of
new customer acquisition, the conversion of new visitors to the site to
customers, the activity of customers and assets held at the institution,
seasonality, the development and enhancement of products and services,
competitive pressures (including price competition), system failures, economic
and political conditions, changes in consumer behavior and the introduction of
competing products having technological and/or other advantages. Further
information about these risks and uncertainties can be found in the
information included in the annual reports previously filed by E*TRADE Group,
Inc. or E*TRADE FINANCIAL Corporation with the SEC on Form 10-K (including
information under the caption "Risk Factors") and quarterly reports on Form
10-Q.
E*TRADE FINANCIAL Media Contact
Pam Erickson
E*TRADE FINANCIAL Corporation
617-296-6080
pam.erickson@etrade.com
E*TRADE FINANCIAL Investor Relations Contact
Adam Townsend
E*TRADE FINANCIAL Corporation
703-236-8719
adam.townsend@etrade.com
SOURCE E*TRADE FINANCIAL
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Related links:
http://www.etrade.com
CONTACT:
E*TRADE FINANCIAL Media Contact - Pam
Erickson, +1-617-296-6080, pam.erickson@etrade.com, or E*TRADE
FINANCIAL Investor Relations Contact - Adam Townsend,
+1-703-236-8719, adam.townsend@etrade.com, both of E*TRADE
FINANCIAL Corporation
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