Track Data Corporation (Nasdaq: TRAC) today announced results for its first quarter ended March 31, 2004.
Revenues for the first quarter ended March 31, 2004 were $10,773,000 compared to $10,695,000 for the same period in 2003.
Net income for the first quarter of 2004 was $1,124,000, or $.02 per share, compared to $190,000, or $.00 per share in 2003.
Revenues from the Company's online trading business increased in the 2004 period compared to the 2003 period, but, this increase was in large part offset by a trend of continuing declines in revenues from market data services to the professional market.
The 2004 period includes an after-tax gain on marketable securities of $472,000, including $266,000 from the sale of Innodata common stock, compared to a gain of $221,000 in the 2003 period.
Track Data is a New York-based financial services company that provides direct access brokerage, real-time financial market data, news, and research to institutional and individual investors through dedicated telecommunication lines and the Internet.