Ladenburg Thalmann Financial Services has reported revenues of $50.93 million for the fourth quarter of 2007, a 254% increase over revenues of $14.4 million in the comparable quarter of 2006.
Net income for the quarter was $10.60 million compared to $682,000 in the same period of 2006. EBITDA, as adjusted for the period, was $15.81 million, an increase of $14.39 million over $1.42 million for fourth quarter 2006.
Full year 2007 revenues grew 105% to $95.83 million, compared to the revenues of $46.86 million in 2006. The company recorded a net income of $9.39 million, or $0.06 per diluted share in 2007, an increase when compared to the net income of $4.66 million, or $0.03 per diluted share in 2006.
EBITDA for 2007, as adjusted, was $22.01 billion, an increase of $18.18 million over $3.82 billion for 2006.
Phillip Frost, chairman of Ladenburg Thalmann, said: 2007 was a tremendous year for Ladenburg and we are very pleased with our fourth quarter and full year performance. We are confident that Ladenburg is well positioned to capitalize on this momentum and we look forward to continuing to perform for our clients and shareholders in 2008 and beyond.