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NYSE Member Firms Report First-Quarter 2002 Results

Date 03/06/2002

New York Stock Exchange member firms that conduct business with the public reported first-quarter 2002 after-tax profits of $1.95 billion and revenues of $38.55 billion, a 27.5 percent and 33.6 percent decline, respectively, compared to $2.69 billion in after-tax profits on revenues of $58.06 billion in first-quarter 2001.

For first-quarter 2002, NYSE specialists reported after-tax profits of $92 million, a 36.6 percent decline from the year-ago quarter's $145 million. Total specialist revenue dropped by 21.0 percent in first-quarter 2002, to $414 million, from $524 million in first-quarter 2001.

Comparative financial results are charted below:

NYSE Member Firms Dealing with the Public
($ in millions)

  1st Quarter 2002 1st Quarter 2001 4th Quarter 2001
Revenues $38,546 $58,060 $42,291
Expenses 35,544 53,921 39,468
After-Tax Profit/Loss 1,951 2,690 1,835
After-Tax Annualized Return on Capital 5.2% 7.5% 4.9%
Assets** 2,784,150* 2,383,423 2,718,199
Capital & Subordinations 149,677 145,122 148,924
Commission Revenues 7,041 7,485 6,618
Number of Firms Reporting 254 266 261
Number of Profitable Firms 181 198 153
Aggregate Pre-Tax Earnings of Profitable Firms 3,712 4,681 4,643
Number of Unprofitable Firms 73 68 108
Aggregate Pre-Tax Earnings of Profitable Firms (710) (542) (1,820)


* Record level



    NYSE Specialists
    ($ in millions)

      1st Quarter 2002 1st Quarter 2001 4th Quarter 2001
    Revenues $414 $524 $454
    Expense 252 274 266
    After-Tax Profit 92 145 104
    After-Tax Annualized Return on Capital 9.0% 18.4% 11.3%

    * Record level

    ** Regulatory Requirements Amended June 2001

    Note: For member firms dealing with the public, the figures collected by the NYSE include revenue from all sources, including trading, interest and commission income. Since the NYSE member firm community is made up of corporations and partnerships, after-tax earnings are presented on a pro-forma basis assuming a regular corporate tax rate or credit of 35 percent.

    The category of member firms dealing with the public generally excludes specialists, but includes firms that primarily trade for their own account, rather than doing a public business.

      After-tax earnings for NYSE specialist units are based on an aggregate tax rate of 43 percent for federal and local taxes.

        NYSE Member Firms Dealing with Public (Financial Summary) (pdf format)


        Statement of Income (Loss) and Expense Unconsolidated (pdf format)


        Statement of Financial Condition (pdf format)