EX-99 3 exh99_1.txt EXHIBIT 99.1
EXHIBIT 99.1 Financial Highlights The Charles Schwab Corporation (In Millions, Except Per Share Amounts and as Noted) ------------------------------------------------------------------------------------------------------------------------------------ Growth Rate ----------- 1-Year 2002-2003 2003 2002 2001 ------------------------------------------------------------------------------------------------------------------------------------ Revenues (1) - $ 4,087 $ 4,091 $ 4,292 Net income 333% $ 472 $ 109 $ 199 Basic earnings per share (2) 338% $ .35 $ .08 $ .14 Diluted earnings per share (2) 338% $ .35 $ .08 $ .14 Adjusted operating income (3) 20% $ 490 $ 409 $ 424 Dividends declared per common share 14% $ .050 $ .044 $ .044 Weighted-average common shares outstanding - diluted (1%) 1,364 1,375 1,399 ------------------------------------------------------------------------------------------------------------------------------------ Closing market price per share (at year end) 9% $ 11.84 $ 10.85 $ 15.47 Book value per common share (at year end) 10% $ 3.29 $ 2.98 $ 3.04 ------------------------------------------------------------------------------------------------------------------------------------ Pre-tax profit margin - reported 17.4% 4.6% 8.3% After-tax profit margin - reported 11.5% 2.7% 4.6% After-tax profit margin - operating (3) 12.0% 10.0% 9.9% Long-term debt (at year end) 20% $ 772 $ 642 $ 730 Stockholders' equity (at year end) 11% $ 4,461 $ 4,011 $ 4,163 Return on stockholders' equity 11% 3% 5% ------------------------------------------------------------------------------------------------------------------------------------ Full-time equivalent employees (at year end, in thousands) (2%) 16.3 16.7 19.6 ------------------------------------------------------------------------------------------------------------------------------------ (1) Revenues are presented net of interest expense. 2002 and 2001 have been adjusted to summarize the impact of The Charles Schwab Corporation's sale of its U.K. brokerage subsidiary, Charles Schwab Europe, in loss from discontinued operations. (2) Both basic and diluted earnings per share include loss from discontinued operations of $.00, $(.03), and $(.01) per share in 2003, 2002, and 2001, respectively, and an extraordinary gain of $.01 and $.08 per share in 2002 and 2001, respectively. (3) Represents a non-GAAP income measure, which excludes non-operating revenue (which primarily consists of gains on sales of investments), restructuring and other charges, impairment charges, acquisition- and merger-related charges, discontinued operations, and extraordinary items. See reconciliation of net income to adjusted operating income at Exhibit 99.4 to this Current Report on Form 8-K.