Knight Trading Group Discusses Second Quarter Outlook
07 Julho 2004 - 8:01AM
PR Newswire (US)
Knight Trading Group Discusses Second Quarter Outlook JERSEY CITY,
N.J., July 7 /PRNewswire-FirstCall/ -- Knight Trading Group, Inc.
(NASDAQ:NITE) today announced that it expects to report operating
earnings per share in the range of $0.06 to $0.11 for the second
quarter ended June 30, 2004. This range excludes any charges and
writedowns. As also announced today, Knight will take a pre-tax
charge in the second quarter, which ended June 30, 2004, of
approximately $79 million relating to an agreement in principle to
settle investigations by the U.S. Securities and Exchange
Commission and NASD. "While each of Knight's business segments was
profitable during the second quarter, market conditions were
challenging, with volatility and volumes low in the equity and
options markets," said Thomas M. Joyce, Chief Executive Officer and
President of Knight Trading Group. "Meanwhile, at Deephaven, our
success in raising assets under management was offset by the weak
environment for arbitrage strategies. The trio of rising rates,
higher oil prices and an unstable Middle East worked to keep
investors, both retail and institutional, on the sidelines. We
believe that this slowdown is not a long-term issue but an
event-driven downturn fueled by specific uncertainties. As such,
Knight furthered its efforts to enhance our institutional and
broker-dealer client relationships. While the market is on pause,
Knight continues to attract new business and refine its
infrastructure for greater efficiencies." Knight will release its
official second quarter results on Wednesday, July 21, 2004 at 6:00
a.m. Eastern Daylight Time (EDT). The company will conduct its
second quarter earnings conference call for analysts, investors and
the media at 9:00 a.m. (EDT) that same day. The conference call
will be Webcast live at 9:00 a.m. (EDT) for all investors and
interested parties on Knight's Web site
(http://www.knighttradinggroup.com/). * * * Knight is focused on
meeting the needs of institutional and broker-dealer clients by
providing comprehensive trade execution services in equities and
derivatives. A leading execution specialist, Knight offers capital
commitment and access to a deep pool of liquidity across the depth
and breadth of the equity market. Knight also operates an asset
management business for institutions and high net worth
individuals. To be a valued partner, Knight strives to provide
superior client service and will continue to tailor its offering to
meet the needs of its clients. More information about Knight can be
obtained at http://www.knighttradinggroup.com/. Certain statements
contained herein constitute "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are based on current expectations,
estimates and projections about the Company's industry,
management's beliefs and certain assumptions made by management.
Readers are cautioned that any such forward-looking statements are
not guarantees of future performance and are subject to certain
risks, uncertainties and assumptions that are difficult to predict.
Since such statements involve risks and uncertainties, the actual
results and performance of the Company may turn out to be
materially different from the results expressed or implied by such
forward-looking statements. Given these uncertainties, readers are
cautioned not to place undue reliance on such forward-looking
statements. Unless otherwise required by law, the Company also
disclaims any obligation to update its view of any such risks or
uncertainties or to announce publicly the result of any revisions
to the forward-looking statements made herein; however, readers
should carefully review reports or documents the Company files from
time to time with the Securities and Exchange Commission.
DATASOURCE: Knight Trading Group, Inc. CONTACT: Margaret Wyrwas,
Senior Managing Director, Corporate Communications & Investor
Relations, +1-201-557-6954, ; or Kara Fitzsimmons Vice President,
Corporate Communications, +1-201-356-1523, ; or Judy Pirro, Vice
President, Investor & Shareholder Relations, +1-201-356-1548, ;
or Greta Morley, Assistant Vice President,Marketing Communications
& Public Relations, +1-201-557-6948, , all of Knight Trading
Group, Inc. Web site: http://www.knighttradinggroup.com/
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