-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, FJkURFEq+rPzLg8DI7LYVEGneIag3jYnSi4pdowa3M5q8vPsrLIEAEA+VvcpGmI1 iRg9wlurn58G6lHyByst9w== 0001157523-06-011405.txt : 20061115 0001157523-06-011405.hdr.sgml : 20061115 20061115140326 ACCESSION NUMBER: 0001157523-06-011405 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20061115 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20061115 DATE AS OF CHANGE: 20061115 FILER: COMPANY DATA: COMPANY CONFORMED NAME: INVESTORS CAPITAL HOLDINGS LTD CENTRAL INDEX KEY: 0001001871 STANDARD INDUSTRIAL CLASSIFICATION: INVESTORS, NEC [6799] IRS NUMBER: 043284631 STATE OF INCORPORATION: MA FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-43664 FILM NUMBER: 061219251 BUSINESS ADDRESS: STREET 1: 230 BROADWAY EAST CITY: LYNNFIELD STATE: MA ZIP: 01940 BUSINESS PHONE: 7815938565 MAIL ADDRESS: STREET 1: 230 BROADWAY CITY: LYNNFIELD STATE: MA ZIP: 01940 8-K 1 a5275744.txt INVESTORS CAPITAL HOLDINGS, LTD. 8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) November 15, 2006 ------------------------------ Investors Capital Holdings, Ltd. - -------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) Massachusetts 1-16349 04-3284631 - -------------------------------------------------------------------------------- (State or other jurisdiction (Commission (I.R.S. Employer of incorporation) File Number) Identification No.) 230 Broadway East, Lynnfield, Massachusetts 01940 - -------------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (800) 949-1422 ---------------------------- - -------------------------------------------------------------------------------- (Former name or former address, if changed since last report.) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Item 2.02. Results of Operations and Financial Condition On November 15, 2006, Investors Capital Holdings, Ltd. issued a press release announcing its financial results for the Company's second fiscal quarter ended September 30, 2006. A copy of the press release is furnished as Exhibit 99.1 to this report. In accordance with General Instruction B.2 of Form 8-K, the information in this Current Report on Form 8-K, including exhibit 99.1, shall not be deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liability of that section, and shall not be incorporated by reference for any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing Item 9.0.1 Financial Statements and Exhibits (d) The following items are filed as exhibits to this report: 99.1 Press release, dated November 15, 2006 issued by Investors Capital Holdings, Ltd. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Investors Capital Holdings, Ltd. -------------------------------- (Registrant) Date November 15, 2006 /s/ Timothy B. Murphy ----------------- --------------------- Timothy B. Murphy Chief Financial Officer, Chief Accounting Officer, Treasurer, Executive Vice President, and Director Exhibit No. Description - ----------- ----------- 99.1 Press release dated November 15, 2006 EX-99.1 2 a5275744ex991.txt INVESTORS CAPITAL HOLDINGS, LTD. EXHIBIT 99.1 Exhibit 99.1 Investors Capital Holdings' Posts Gain in Revenue of 6.7% for Second Fiscal Quarter LYNNFIELD, Mass.--(BUSINESS WIRE)--Nov. 15, 2006--Investors Capital Holdings, Ltd. (AMEX: ICH) today announced results for the second fiscal quarter ended September 30, 2006. Total revenue was approximately $17.3 million, an increase of $1.08 million or 6.7% for the quarter ended September 30, 2006, compared with total revenue of approximately $16.2 million for the quarter ended September 30, 2005. Operating loss for the second fiscal quarter was $79,909, slightly improved from an operating loss of $81,015 from the comparative quarter last year. Net loss for the second fiscal quarter ended September 30, 2006 was $169,835 or $0.03 per share, versus a net loss of $42,836 or $0.01 per share, from the comparative quarter ended September 30, 2005. About Investors Capital Holdings Investors Capital Holdings (AMEX:ICH) of Lynnfield, MA is a diversified financial services company founded to meet consumer needs in today's financial markets. The company owns and operates Investors Capital Corporation, Investors Capital Advisory Services, Eastern Point Advisors and ICC Insurance Agency, Inc. For more information, please call (800) 949-1422 or visit www.investorscapital.com. Certain statements contained in this press release, which are not historical fact, may be deemed to be forward-looking statements under federal securities laws. There are many important factors that could cause Investors Capital Holdings and its subsidiaries' actual results to differ materially from those indicated in the forward-looking statements. Such factors include, but are not limited to, general economic conditions, including interest rate risk, regulatory changes (legislative or otherwise) affecting the financial services industry, competition, demand for Investors Capital Holdings and its subsidiaries' services, availability of funding, and other risks identified in Investors Capital Holdings' Securities and Exchange Commission filings. Investors Capital Corporation, Lynnfield, Massachusetts, Distributor. INVESTORS CAPITAL HOLDINGS, LTD. AND SUBSIDIARIES ====================================================================== CONDENSED CONSOLIDATED BALANCE SHEETS Periods Ended September 30, March 31, 2006 2006 ------------- ------------ Cash and Cash Equivalents $4,787,037 $7,718,682 Current and Other Assets 8,774,783 6,834,647 Property and Equipment, net 1,036,043 772,498 ------------- ------------ Total Assets $14,597,863 $15,325,827 ============= ============ Current Liabilities 4,261,863 4,739,744 Total Liabilities 4,261,863 4,739,744 Total Stockholders' Equity 10,336,000 10,586,083 ------------- ------------ Total Liabilities and Stockholders' Equity $14,597,863 $15,325,827 ============= ============ INVESTORS CAPITAL HOLDINGS, LTD. AND SUBSIDIARIES ====================================================================== CONDENSED CONSOLIDATED STATEMENTS OF INCOME Quarters Ended September 30, September 30, 2006 2005 ------------- ------------- Revenues Commission 15,289,439 14,359,465 Advisory Fees 1,444,068 1,299,799 Other Fee Income 129,635 98,440 Interest, dividend and investment 188,245 178,230 Marketing revenue 204,533 234,310 ------------- ------------- Total Revenue 17,255,919 16,170,244 Commission and advisory fees 16,733,507 15,659,264 ------------- ------------- Gross Profit 3,115,594 2,861,814 Operating Expenses: Advertising 231,797 1,820,456 Communications 134,633 145,926 ------------- ------------- Total Selling Expenses 366,430 1,966,382 Compensation and Benefits 1,710,572 1,383,911 Regulatory, Legal and Professional 730,702 875,714 Occupancy 231,503 169,891 Other Administrative Expenses 156,296 185,331 ------------- ------------- Total Administrative Expenses 2,829,073 2,614,847 Total Operating Expenses 3,195,503 2,942,829 Operating (Loss) income (79,909) (81,015) Other expense: 7,570 15,517 Net (Loss) income before taxes (87,479) (96,532) Benefit (Provision) for income taxes (82,356) 53,695 Net (Loss) income (169,835) (42,835) Basic earnings per common share $(0.03) $(0.01) CONTACT: Investors Capital Holdings, Ltd. Timothy Murphy, 781-593-8565 ext. 4726 Chief Financial Officer tmurphy@investorscapital.com or Darren Horwitz, 781-593-8565 ext. 4761 Manager, Corporate Communications dhorwitz@investorscapital.com -----END PRIVACY-ENHANCED MESSAGE-----