The company's brokerage commissions and fees increased 24% year over year as result of net account growth and higher trading volume by the brokerage firm's client accounts. The company also reported quarterly daily average revenue trades (DARTs) of 91,121 for the 2008 second quarter, a 28% increase over the 2007 second quarter.

For the 2008 second quarter, TradeStation Group's net income of $6.1 million and earnings per share (diluted) of 14 cents compared to net income of $8.1 million and earnings per share (diluted) of 18 cents for the 2007 second quarter. Lower net interest income in the 2008 second quarter ($4.7 million lower than net interest income generated in the 2007 second quarter) as a result of the significant year-over-year decrease in the federal funds target rate of interest was the major driver of the variance. Net income and earnings per share (diluted) for the 2008 second quarter include a one-time pre-tax expense of $1.2 million (an after-tax expense of $0.8 million, or 2 cents per share) relating to accelerated vesting of certain officer and director stock options that occurred as a result of the collective beneficial ownership of the company by the company's co-founders falling below 25%. Had that event and expense adjustment not occurred, 2008 second quarter net income would have been $6.9 million and earnings per share (diluted) would have been 16 cents. The company also recorded in the 2008 second quarter a $625,000 recovery of legal expenses from an insurance carrier as part of a final settlement of coverage relating to certain lawsuits in which the company had prevailed or had settled.

"We are very pleased to have generated a robust year-over-year increase in brokerage commissions and fees," said David Fleischman, TradeStation Group's Chief Financial Officer. "We have been able to grow the size and quality of our client account base to increase our brokerage commissions and fees revenue by an impressive 24% compared to the same period last year."

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