OptionsXpress 2Q profit edges higher, meets Street

For the three months ended June 30, the company reported net income of $23.3 million, or 39 cents per share, compared with $23.2 million, or 37 cents per share, in the year-ago period. The per-share results reflect a 5 percent reduction in the number of outstanding shares for the 2008 quarter from last year.

Revenue rose 4 percent to $61.6 million from $50.4 million last year. Revenue from commissions rose 12 percent to $41 million, while interest revenue and fees slid 21 percent to $11.9 million.

Analysts polled by Thomson Financial, on average, expected a profit of 39 cents per share on revenue of $61.1 million.

The company said the number of customer accounts rose 24 percent from last year to 291,500. The number of daily average revenue-generating trades rose 14 percent to 37,600, while the average commission per trade edged down 3 percent to $17.20.

In midday trading, optionsXpress shares rose 84 cents, or 3.7 percent, to $23.56. The stock has traded between $18.55 and $34.95 in the past 12 months, and is down about 33 percent for the year.