EX-99 5 f02-09_248kexh993.txt FORM 8K EXHIBIT 99.3 EXHIBIT 99.3 LEHMAN BROTHERS HOLDINGS INC. CONSOLIDATED STATEMENT OF INCOME (Preliminary and Unaudited) (In millions, except per share data)
Three Months Ended ------------------------------------ Percentage August 31 August 31 Change 2002 2001 Inc/(Dec) ---------------- --- --------------- ------------------- Revenues: Principal transactions $234 $637 Investment banking 427 491 Commissions 357 253 Interest and dividends 3,048 3,657 Other 9 19 ---------------- --------------- Total revenues 4,075 5,057 Interest expense 2,728 3,429 ---------------- --------------- Net revenues 1,347 1,628 (17% ) ---------------- --------------- Non-interest expenses: Compensation and benefits 687 830 Technology and communications 140 131 Brokerage and clearance fees 87 82 Occupancy 73 52 Business development 37 44 Professional fees 36 38 Other 18 16 ---------------- --------------- Total non-interest expenses 1,078 1,193 (10%) Income before taxes and dividends on trust preferred securities 269 435 Provision for income taxes 61 112 Dividends on trust preferred securities 14 14 ---------------- --------------- ---------------- --------------- Net income $194 $309 (37%) ================ =============== ================ =============== Preferred stock dividends 11 11 Net income applicable to common stock $183 $298 (39%) ================ =============== ================ =============== Earnings per common share Basic $0.74 $1.24 ================ =============== Diluted $0.70 $1.14 ================ ===============