Belzberg Technologies Q1 profits and revenues increase

Source: Belzberg Technologies

Belzberg Technologies Inc. (TSX:BLZ) today announced its financial results for the first quarter ended March 31, 2006.

Highlights for the 2006 first quarter included:

Record first quarter 2006 net earnings of $1.8 million, up from $0.4 million in the same year-ago quarter. Diluted earnings per share increased to $0.12 per share, up from $0.03 per share in the same year-ago quarter.

Revenue of $8.9 million for the first quarter of 2006, up by 25% from $7.1 million in the same year-ago quarter.

Average daily volume of electronic equity and index options contracts traded increased by 145% to approximately 255,000 electronic option contracts in the first quarter of 2006 compared to approximately 104,000 contracts in the same year-ago quarter.

Average daily volume of equity order flow executed by Belzberg Technologies wholly owned U.S. broker-dealer subsidiary increased by 31% to approximately 34.7 million shares in the first quarter of 2006 compared to approximately 26.5 million shares in the same year-ago quarter.

"Strong growth of our options revenue together with continuing leverage in our overall business resulted in the fifth consecutive quarter of record earnings. We remain focused on leveraging our innovation and technological leadership to enhance our product offerings as we attract more market participants to our platform." said Sid Belzberg, Belzberg's Chairman and Chief Executive Officer.

Patent Information

In January 1999, Belzberg received a U.S. Patent Number 5,864,827, recognizing its exclusive rights to intellectual property for a System and Method for Providing a Protocol Transaction Gateway. In August 2004, Belzberg was granted European Patent Number 0992014 for a System and Method for Providing an Information Gateway.

The patents protect Belzberg's Transactions Gateway, a system that translates the protocol of incoming transaction messages from customers into the appropriate protocol used by various exchanges and market makers. The technology facilitates electronic stock trading by allowing customers to execute trades on any market they choose from a single screen.Download the document now 27.6 kb (Adobe Acrobat Document)

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