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NYSE Member Firms Report Fourth-Quarter 2007 Results
NEW YORK, April 8, 2008 -- New York Stock Exchange member firms that conduct business with the public reported a fourth-quarter 2007 after-tax loss of $10.64 billion and revenues of $88.18 billion, compared with $4.92 billion in after-tax profits on revenues of $93.38 billion in fourth quarter 2006. For 2007, the firms reported an after-tax loss of $7.35 billion on record revenues of $352.05 billion, compared with an after-tax profit of $13.58 billion on revenues of $331.34 billion in 2006. Comparative financial results in the table below:

Member Firms Dealing with the Public ($ in millions)

 

4th QTR
2007

4th QTR
2006

3rd QTR
2007

Y-T-D
2007

Y-T-D
2006

Revenues

$88,181

$93,382

$78,792

$352,048*

$331,340

Expenses

$104,550*

$85,817

$82,620

$363,352*

$310,443

After-Tax Profit/Loss

($10,640)

$4,917

($2,488)

($7,347)

$13,583

After-Tax Annualized
Return on Capital

-17%

9.5%

-4.1%

-3.2%

6.7%

Assets

$5,459,435

$5,019,450

$5,650,068

$5,459,434

$5,019,450

Capital & Subordinations

$250,063*

$206,553

$249,023

$250,063*

$206,553

Commission Revenues

$7,613

$6,481

$7,163

$28,846

$26,666

Number of Firms Reporting

195

204

196

208

224

Number of Profitable Firms

119

134

141

143

158

Aggregate Pre-Tax Earnings
of Profitable Firms

$3,977

$7,704

$4,481

$18,467

$22,740

Number of Unprofitable Firms

76

70

55

65

66

Aggregate Pre-Tax Loss
of Unprofitable Firms

($20,346)

($139)

($8,309)

($29,770)

($1,843)

* Record level

Note: Data is from NYSE member firms that conduct business with the public. The category generally also includes firms that trade primarily for their own account, but excludes specialists.   All firms are registered broker-dealers with the SEC. Revenues are predominantly derived from investment banking, trading, commissions and interest.

The fourth quarter 2007 and year to date 2007 revenue and expense numbers include a restatement, to correct prior period errors, by one NYSE member firm that increased the revenue and expense amounts by $17,726,524,321 and $17,356,524,321, respectively, in both periods.

Since the NYSE member firm community is composed of corporations and partnerships, after-tax earnings are presented on a pro-forma basis that assumes a corporate tax rate of 35 percent.

Links:

NYSE Member Firms Dealing with Public (Financial Summary) (pdf format)

Statement of Income (Loss) and Expense Unconsolidated (pdf format)

Statement of Financial Condition (pdf format)

 



Contact: Scott Peterson
Phone: 212-656-4089
Email:  speterson@nyx.com