Brooklyn, New York – May 11, 2006 – Track Data Corporation (Nasdaq: TRAC) today announced results for its first quarter ended March 31, 2006.
Revenues for the first quarter ended March 31, 2006 were $10,524,000 compared to $10,109,000 for the same period in 2005. Net income for the first quarter of 2006 was $701,000, or $.08 per share, compared to $286,000, or $.03 per share, in 2005. Revenues from Track ECN increased in the first quarter of 2006, offsetting a decline in professional market data revenues. The Company continues to experience declines in revenues from its market data services to the professional market. Management expects this trend to continue through 2006, negatively impacting revenues and profits. The 2005 period includes after-tax income of $222,000 from telecommunication credits. The 2006 and 2005 periods include after-tax gains of $413,000 and $307,000, respectively, from the sale of Innodata and Edgar Online common stock.
Track Data is a New York-based financial services company that provides direct access brokerage, real-time financial market data, news, and research to institutional and individual investors through dedicated telecommunication lines and the Internet.
For professional investors, Track Data Securities offers proTrack, a direct access trading platform with fully integrated market data. proTrack offers unbiased trade routing, allowing clients control over where their orders are sent. proTrack is also available to broker-dealers under a service bureau arrangement as an execution platform.
The Company also owns and operates the Track ECN, an electronic communications network that allows traders to display and match limit orders for stocks. Track ECN offers subscribers the highest published rebate in the industry.
For individual investors, Track Data Securities offers myTrack and TrackTrade, both fully integrated, Internet-based online trading and market data systems. Each platform offers direct access online trading, allowing users the choice of where to route their equity and options orders. myTrack and TrackTrade offer continuous, dynamic streams of live market data powered by application-based software and a constant server connection similar to systems used by professionals.
For all investors, the Company’s NewsWare division offers NewsWatch, a PC-based application that aggregates news from thousands of sources. Featuring real-time full text filtering and complex queries, its real-time alerting functions allow users to choose topics of interest and be among the first to know when news breaks.