Broadridge Financial Solutions, Inc. (NYSE:BR), a provider of investor communications and technology solutions, has reported its financial results for the Q3 its fiscal year ending March 31, 2015.
Broadridge has reported fee revenues of $406 million in Q3, jumping 5% YoY from just $387 million during Q3 2014. In addition, total revenues have swelled to $634 million during Q3 2015, up 5% YoY from $606 in Q3 2014.
The company also yielded adjusted net earnings of $59 million in Q3 2015, representing a 7% YoY increase from $55 million inked in Q3 2014. Conversely, net earnings came in at $54 million in Q3 2015, up 6% YoY from $51 million in Q3 2014.
Finally, adjusted diluted earnings per share at Broadridge was reported at $0.47 in Q3 2015, up 7% YoY from $0.44 in Q3 2014. By extension, diluted earnings per share was $0.43 in Q3 2015, higher by 5% YoY when weighed against $0.41 in Q3 2014.
According to Richard J. Daly, President and Chief Executive Officer, in a recent statement on the financial results, “I am pleased with our third quarter financial performance which was primarily driven by recurring revenues including Net New Business gains and the continuation of favorable market-based activities.
Recurring revenue closed sales grew 14% in the third quarter and have grown 75% year to date. Given our year to date performance, we are reaffirming our full year guidance. Further, with $108 million in record recurring revenue closed sales year to date, we expect the full year to come in at the upper half of our guidance range of $110 to $150 million, which would result in another full year record. We also anticipate Adjusted Diluted EPS to be around the mid-point of our full year guidance range of $2.42 to $2.52, representing about 10% growth."
“We are delivering on our capital commitments including making tuck-in acquisitions and returning capital to shareholders through dividends and share repurchases. In April, we completed the previously announced Acquisition of the trade processing business of M&T Bank Corporation’s Wilmington Trust Retirement and Institutional Services unit and during the quarter, we acquired Direxxis, a provider of Cloud -based marketing solutions and services for wealth and asset managers,” he added.
