Exhibit 99.1
Investors Capital Holdings' Posts Gain in Revenue of 6.7% for Second Fiscal
Quarter
LYNNFIELD, Mass.--(BUSINESS WIRE)--Nov. 15, 2006--Investors
Capital Holdings, Ltd. (AMEX: ICH) today announced results for the
second fiscal quarter ended September 30, 2006. Total revenue was
approximately $17.3 million, an increase of $1.08 million or 6.7% for
the quarter ended September 30, 2006, compared with total revenue of
approximately $16.2 million for the quarter ended September 30, 2005.
Operating loss for the second fiscal quarter was $79,909, slightly
improved from an operating loss of $81,015 from the comparative
quarter last year. Net loss for the second fiscal quarter ended
September 30, 2006 was $169,835 or $0.03 per share, versus a net loss
of $42,836 or $0.01 per share, from the comparative quarter ended
September 30, 2005.
About Investors Capital Holdings
Investors Capital Holdings (AMEX:ICH) of Lynnfield, MA is a
diversified financial services company founded to meet consumer needs
in today's financial markets. The company owns and operates Investors
Capital Corporation, Investors Capital Advisory Services, Eastern
Point Advisors and ICC Insurance Agency, Inc.
For more information, please call (800) 949-1422 or visit
www.investorscapital.com.
Certain statements contained in this press release, which are not
historical fact, may be deemed to be forward-looking statements under
federal securities laws. There are many important factors that could
cause Investors Capital Holdings and its subsidiaries' actual results
to differ materially from those indicated in the forward-looking
statements. Such factors include, but are not limited to, general
economic conditions, including interest rate risk, regulatory changes
(legislative or otherwise) affecting the financial services industry,
competition, demand for Investors Capital Holdings and its
subsidiaries' services, availability of funding, and other risks
identified in Investors Capital Holdings' Securities and Exchange
Commission filings.
Investors Capital Corporation, Lynnfield, Massachusetts,
Distributor.
INVESTORS CAPITAL HOLDINGS, LTD. AND SUBSIDIARIES
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CONDENSED CONSOLIDATED BALANCE SHEETS
Periods Ended
September 30, March 31,
2006 2006
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Cash and Cash Equivalents $4,787,037 $7,718,682
Current and Other Assets 8,774,783 6,834,647
Property and Equipment, net 1,036,043 772,498
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Total Assets $14,597,863 $15,325,827
============= ============
Current Liabilities 4,261,863 4,739,744
Total Liabilities 4,261,863 4,739,744
Total Stockholders' Equity 10,336,000 10,586,083
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Total Liabilities and Stockholders' Equity $14,597,863 $15,325,827
============= ============
INVESTORS CAPITAL HOLDINGS, LTD. AND SUBSIDIARIES
======================================================================
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
Quarters Ended
September 30, September 30,
2006 2005
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Revenues
Commission 15,289,439 14,359,465
Advisory Fees 1,444,068 1,299,799
Other Fee Income 129,635 98,440
Interest, dividend and investment 188,245 178,230
Marketing revenue 204,533 234,310
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Total Revenue 17,255,919 16,170,244
Commission and advisory fees 16,733,507 15,659,264
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Gross Profit 3,115,594 2,861,814
Operating Expenses:
Advertising 231,797 1,820,456
Communications 134,633 145,926
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Total Selling Expenses 366,430 1,966,382
Compensation and Benefits 1,710,572 1,383,911
Regulatory, Legal and Professional 730,702 875,714
Occupancy 231,503 169,891
Other Administrative Expenses 156,296 185,331
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Total Administrative Expenses 2,829,073 2,614,847
Total Operating Expenses 3,195,503 2,942,829
Operating (Loss) income (79,909) (81,015)
Other expense: 7,570 15,517
Net (Loss) income before taxes (87,479) (96,532)
Benefit (Provision) for income taxes (82,356) 53,695
Net (Loss) income (169,835) (42,835)
Basic earnings per common share $(0.03) $(0.01)
CONTACT: Investors Capital Holdings, Ltd.
Timothy Murphy, 781-593-8565 ext. 4726
Chief Financial Officer
tmurphy@investorscapital.com
or
Darren Horwitz, 781-593-8565 ext. 4761
Manager, Corporate Communications
dhorwitz@investorscapital.com