NEW YORK, June 14 /PRNewswire-FirstCall/ -- E*TRADE FINANCIAL
Corporation (NYSE: ET) today released its Monthly Activity Report for May.
The Company's total retail client assets decreased 5 percent sequentially,
totaling $184.2 billion. End of period margin debt balances increased 2
percent sequentially to $7.1 billion, with average margin debt balances
increasing 2 percent to $7.0 billion. Total Daily Average Revenue Trades
(DARTs) were 178,250, down 3 percent versus April. Gross new retail
accounts for the month totaled 95,300 -- resulting in total end-of-period
active retail accounts of 4,386,000.
"We are very pleased with our results as we continue to execute against
our long-term strategic and financial growth plan. Through the combination
of organic and acquired growth, we continue to strengthen the franchise,
delivering a 92 percent year-over-year increase in client assets, a 231
percent increase in end-of-period margin debt and a 126 percent increase in
DART activity," said R. Jarrett Lilien, President and Chief Operating
Officer, E*TRADE FINANCIAL Corporation. "Reflected in these results is our
renewed commitment and increased investment in service and the overall
customer experience. We are already seeing returns on this investment as
evidenced by the better than modeled economic driver attrition for
Harrisdirect and BrownCo. Both integrations are now successfully completed
and economic attrition currently stands at 9 percent and 4 percent
respectively."
MONTHLY ACTIVITY DATA
Q206
QTD*
MAY-06 VS. QTR
VS. Q206 QTR ENDED ENDED
MAY-06 APR-06 APR-06 QTD* 03/31/06 03/31/06
Trading days 22.0 19.0 N.M. 41.0 62.0 N.M.
Daily Average Revenue
Trades (DARTs)
US 152,418 160,046 (4.8)% 155,953 159,199 (2.0)%
International 25,829 23,213 11.3 % 24,617 21,960 12.1 %
Total DARTs 178,247 183,259 (2.7)% 180,570 181,159 (0.3)%
Market Making
Equity shares
traded (MM) 26,414 24,430 8.1% 50,844 90,871 N.M.
Average revenue
capture per 1,000
equity shares $0.417 $0.337 23.7% $0.379 $0.277 36.8 %
Gross New Retail
Accounts
Trading/investing
accounts 53,048 71,108 N.M. 124,156 190,027 N.M.
Deposit/lending
accounts 42,276 26,657 N.M. 68,933 80,632 N.M.
Total gross new
retail accounts 95,324 97,765 N.M. 193,089 270,659 N.M.
Active Retail
Accounts
Trading/investing
accounts 3,647,130 3,641,401 0.2% 3,647,130 3,634,803 0.3 %
Deposit/lending
accounts 738,910 711,578 3.8% 738,910 699,631 5.6 %
Total active retail
accounts end of
period 4,386,040 4,352,979 0.8% 4,386,040 4,334,434 1.2 %
End of period
margin debt ($MM) $7,104 $6,965 2.0% $7,104 $6,814 4.3 %
Average margin
debt ($MM) $7,022 $6,878 2.1% $6,933 $6,631 4.6 %
Retail Client
Assets ($MM)
Client assets in
trading/investing
accounts $163,647 $175,176 (6.6)% $163,647 $173,694 (5.8)%
Client assets in
deposit accounts 20,519 18,958 8.2% 20,519 18,901 8.6 %
Total retail
client assets $184,166 $194,134 (5.1)% $184,166 $192,595 (4.4)%
* Q206 quarter-to-date (QTD) includes results for the two months ended
May 31, 2006
Historical monthly metric data from January 2003 to May 2006 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, cash management 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, seasonality, the
development of new products and services, the enhancement of existing
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.
2006 E*TRADE FINANCIAL Corporation. All rights reserved.
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 Corporation
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Related links:
http://www.etrade.com
CONTACT:
Media: Pam Erickson, +1-617-296-6080,
pam.erickson@etrade.com, or Investor Relations: Adam Townsend,
+1-703-236-8719, adam.townsend@etrade.com, both of E*TRADE
FINANCIAL Corporation
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