Operating through its wholly-owned subsidiaries, National Holdings Corp., a full service investment banking company, yesterday reported record revenues for the company’s fiscal year ending September 30, 2009.
National Holdings realized a net loss of $6.79 million on revenues of $116.59 million, compared to last year’s loss of $21.36 million on revenues of $82.14 million. After providing for cumulative dividends, the company had a basic and diluted net loss per share of $0.41; in 2008, the basic and diluted net loss per share was valued at $2.02. Additionally, outstanding basic and diluted shares were 16,760,243 for the fiscal year ending September 30, 2009, while last year’s were 10,579,778.
Mark Goldwasser, CEO of National Holdings, commented, “The market volatility over the past fiscal year resulted in a challenging business setting, yet despite this difficult environment, we look forward to the future with a high level of optimism in light of our record revenues in excess of $116 million and adjusted EBITDA loss of ($1.28 million) for the fiscal year ended September 30, 2009. We believe that we are well positioned to achieve success should the markets continue to stabilize and improve.”
National Holdings’ President Leonard J. Sokolow added, “We have begun to see the benefits of diversification of our revenue base as well as investment into our infrastructure, investment banking and research capabilities with a view towards improving our profit margins. In light of these trends, we expect that our first quarter ending December 31, 2009 will show revenues of approximately $28.0 million and positive adjusted EBITDA.”