National Investment Managers Inc. (NIVM.OB) Posts Record Q2 Results, Citing Aggressive Business Model and Strategic Plans
QualityStocks (August 17th, 2009) Writes:
National Investment Managers Inc. is a nationally-based holding company focused on retirement plan administration and investment management. The company recently announced its financial results for the quarter and six months ended June 30, 2009, reporting record quarterly revenues.
The company posted second-quarter 2009 revenues at $14.1 million, up 19.7 percent from $11.8 million posted in 2008. For the first half of 2009, the company reported revenues of $26.7 million, an increase of 29.1 percent, from $20.7 million reported for the first six months of 2008.
The company’s earnings before interest, taxes, depreciation, amortization (EBITDA) was $4.7 million for the second quarter 2009, up from $3.8 million from the same period in 2008.
Steven Ross, CEO of NIVM, said the company’s results were boosted by strategic improvements and signal its ability provide results-driven services.
“Our record performance in the second quarter and first half of 2009 was driven by continued organic
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