National Holdings Corporation Reports Financial Results for Fiscal Second Quarter 2017
NATIONAL HOLDINGS CORP (NHLD)
US:NASDAQ Investor Relations:
nhldcorp.com
Company Research
Source: GlobeNewswire
NEW YORK, May 16, 2017 (GLOBE NEWSWIRE) -- National Holdings Corporation (NASDAQ:NHLD) (“National” or the “Company”), a leading full service independent brokerage, investment banking, trading and asset management firm providing diverse services including tax preparation, today announced its financial results for the fiscal second quarter ended March 31, 2017. Second Quarter Fiscal 2017 Financial Highlights: Revenue of $51.9 million, versus $42.0 million for the second quarter of fiscal 2016.Investment banking revenue recorded its best quarter ever, generating $16.2 million of revenue, versus $6.1 million in the prior year quarter.Adjusted EBITDA increased exponentially, to $4.3 million from $1.2 million in the prior year quarter.Pre-tax earnings of $5.6 million. $1.8 million of pre-tax earnings was due to a non-operating, non-taxable income adjustment, due to a change in the fair value of the firm's warrant liabilityAdjusted pre-tax earnings (minus the warrant liability valuation
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