Market Overview

Siebert Financial Corp. Files 10Q and Reports Financial Results for Second Quarter of 2018


Financial Corp.
(NASDAQ:SIEB), a provider of financial and advisory
services, filed its 10Q and reported results for its second quarter
ended June 30, 2018.

Gloria E. Gebbia, controlling shareholder and board member of Siebert
Financial Corp., said, "I'm incredibly proud of what our company has
been able to accomplish. The outstanding results this quarter are a
testament to many recent improvements and innovations at Siebert. In
addition, the impact we are seeing from the acquisition of the
StockCross retail assets is incredibly exciting, and we look forward to
the next quarter and the coming year."

Second Quarter 2018 Financial Highlights

  Three Months     Six Months  
Ended June 30, Ended June 30,
Financial Highlights  




  % Change  




  % Change
Total Revenue $ 7,488,000 $ 2,689,000 178 % $ 15,665,000 $ 5,068,000 209 %
Net Income $ 1,799,000 $ 365,000 393 % $ 3,492,000 $ 424,000 724 %
Earnings per share (rounded) $ 0.07 $ 0.02 250 % $ 0.13 $ 0.02 550 %
Retail Customer Balances   2018   2017   % Change
Retail customer accounts with positions 39,877 28,953 38 %
Retail customer net worth (in billions) $ 11.2 $ 7.3 53 %

Second Quarter 2018 Financial Results

Total revenue for the three months ended June 30, 2018 increased to
$7,488,000 from $2,689,000 for the corresponding period in 2017,
primarily driven by an increase in revenue related to our acquisition of
retail assets from StockCross Financial Services Inc.

Net income for the three months ended June 30, 2018 increased to
$1,799,000 or $0.07 per share from $365,000 or $0.02 per share for the
corresponding period in 2017.

As of June 30, 2018, we had $6,686,000 in highly liquid cash and cash
equivalents. Total stockholders' equity was $8,705,000 as of June 30,
2018 as compared to $5,212,000 as of December 31, 2017.

For additional information please refer to our Quarterly Report on Form
10-Q for the period ended June 30, 2018 filed with the SEC on August 13,
2018. You may also access the Form 10-Q through our website at

About Siebert Financial Corp.

Siebert Financial Corp. is a holding company that conducts its retail
discount brokerage business through its wholly-owned subsidiary, Muriel
Siebert & Co., Inc., which became a member of the NYSE in 1967 when Ms.
Siebert became the first woman to own a seat on the Exchange. The
company conducts its investment advisory business through its
wholly-owned subsidiary, Siebert AdvisorNXT, Inc., a registered
investment advisor, and its insurance business through its wholly-owned
subsidiary, Park Wilshire Companies Inc., a licensed insurance agency.
Siebert Financial Corp. is based in New York City with 11 retail
branches throughout the continental United States. More information is
available at

Notice to Investors

This communication is provided for informational purposes only and is
neither an offer to sell nor a solicitation of an offer to buy any
securities in the United States or elsewhere.

Cautionary Note Regarding Forward-Looking Statements

Statements in this press release that are not statements of historical
or current fact constitute "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995. Such
"forward-looking statements" involve risks and uncertainties and known
and unknown factors that could cause the actual results of Siebert
Financial Corp. (the "Company") to be materially different from
historical results or from any future results expressed or implied by
such "forward-looking statements," including without limitation: changes
in general economic and market conditions; changes and prospects for
change in interest rates; fluctuations in volume and price of
securities; changes in demand for brokerage services; competition within
and without the brokerage business, including the offer of broader
services; competition from electronic discount brokerage firms offering
greater discounts on commissions than the Company; the prevalence of a
flat fee environment; limited trading opportunities; the method of
placing trades by the Company's customers; computer and telephone system
failures; the level of spending by the Company on advertising and
promotion; trading errors and the possibility of losses from customer
non-payment amounts due; and other increases in expenses and changes in
net capital or other regulatory requirements. As a result of these and
other factors, the Company may experience material fluctuations in its
operating results on a quarterly or annual basis, which could materially
and adversely affect its business, financial condition, operating
results, and stock price, as well as other risks detailed in the
Company's filings with the Securities and Exchange Commission ("SEC").
Accordingly, investors are cautioned not to place undue reliance on any
such "forward-looking statements." The Company undertakes no obligation
to update the information contained herein or to publicly announce the
result of any revisions to such "forward-looking statements" to reflect
future events or developments. An investment in the Company involves
various risks, including those mentioned above and those which are
detailed from time to time in the Company's SEC filings, copies of which
may be obtained from the Company or through the SEC's website.

View Comments and Join the Discussion!