* Retail DARTs decreased 13.5 percent from July, Professional DARTs
decreased 23.8 percent and Total DARTs decreased 17.3 percent
* Month-end margin debt balances decreased 7.8 percent, or $162 million,
to $1.93 billion
* Total assets and deposits in customer accounts decreased 1.4 percent to
$79.3 billion
* Gross new accounts totaled 70,032
NEW YORK, Sept. 15 /PRNewswire-FirstCall/ -- E*TRADE FINANCIAL Corporation
(NYSE: ET) today released its Monthly Activity Report for August. The Company
reported monthly Retail Daily Average Revenue Trades (DARTs) of 57,912 and
Professional DARTs of 30,261 for Total DARTs of 88,173. Margin debt balances
decreased 7.8 percent sequentially to $1.93 billion at month end.
"Anticipating the seasonal dip in trading, we focused on the fastest
growing customer segment -- the retail customer. As a result, we have gained
meaningful market share," said R. Jarrett Lilien, President and Chief
Operating Officer of E*TRADE FINANCIAL. "Even with a slow summer, we are
confident that the ongoing momentum created by our business model should
deliver on our 2004 earnings guidance range of between $0.87 and $0.97 per
share."
MONTHLY ACTIVITY DATA
Aug-04 July-04 Aug-04 Q304 Qtr Ended Q304 QTD *
vs. QTD * 6/30/04 vs.
July-04 Qtr Ended
6/30/04
Trading days 22.0 21.0 N.M. 43.0 62.0 N.M.
Daily Average
Revenue Trades
(DARTs)
Retail 57,912 66,921 (13.5)% 62,311 79,675 (21.8)%
US 49,071 57,192 (14.2)% 53,037 69,073 (23.2)%
International 8,841 9,729 (9.1)% 9,274 10,602 (12.5)%
Professional 30,261 39,702 (23.8)% 34,872 47,758 (27.0)%
Total DARTs 88,173 106,623 (17.3)% 97,183 127,433 (23.7)%
Market Making
Equity shares
traded (MM) 19,365 27,888 (30.6)% 47,253 89,792 (47.4)%
Gross New
Accounts
Brokerage 37,608 42,679 N.M. 80,287 130,793 N.M.
Banking 32,424 14,290 N.M. 46,714 37,726 N.M.
Total gross
new accounts 70,032 56,969 N.M. 127,001 168,519 N.M.
Active
Accounts
Brokerage 2,903,476 2,892,908 0.4% 2,903,476 2,901,140 0.1 %
Banking 634,003 622,253 1.9% 634,003 627,567 1.0 %
Total active
accounts end
of period 3,537,479 3,515,161 0.6% 3,537,479 3,528,707 0.2 %
End of period
margin debt
($MM) $1,927 $2,089 (7.8)% $1,927 $2,067 (6.8)%
Total Assets/
Deposits ($MM)
Total client
assets in
investing
accounts $67,165 $68,922 (2.5)% $67,165 $76,904 (12.7)%
Total deposits
in banking
accounts $12,105 $11,467 5.6 % $12,105 $11,838 2.3 %
Total assets/
deposits in
customer
accounts $79,270 $80,389 (1.4)% $79,270 $88,742 (10.7)%
Loan
Originations
($MM)
Direct mortgage
originations $209 $194 7.7 % $403 $1,287 N.M.
Consumer loan
originations,
incl HELOCs $203 $196 3.6 % $399 $771 N.M.
* Q304 quarter-to-date (QTD) includes results for the two months ended
August 31, 2004
Historical monthly metric data from January 2003 to August 2004 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 provide financial services
including brokerage, banking and lending for retail, corporate 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 is a registered trademark
or trademark 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.
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, or
pam.erickson@etrade.com, or investors, Adam Townsend,
+1-703-236-8719, or adam.townsend@etrade.com, both of E*TRADE
FINANCIAL Corporation
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