FOR IMMEDIATE RELEASE
July 22, 2003 · Albany, New York
First Albany Companies Inc.
Reports Q2 2003 Results — Consolidated Net Revenues and Net Income Posts Continued Strong Growth
$46.9M
Q2 Revenues
+17%
YoY Growth
$2.4M
Net Income
+58%
Equity Mkts
Consolidated net revenues from continuing operations for First Albany Companies was $46.9 million, compared to $40.1 million for the same period in 2002, an increase of 17.0%. The Company reported consolidated net income from continuing operations of $2.4 million for the second quarter 2003.
For the six months ended June 30, 2003, consolidated net revenues were $92.6 million, compared to $78.3 million for the same period in 2002, an increase of 18.3%. Net revenues from brokerage operations was $82.0 million for H1 2003.
"The investments we have made in our businesses over the course of the last year are generating promising results."
Alan Goldberg, President