This financial tech company just beat earnings estimates by two cents per share, and estimates are being revised upward.
Financial Engines (FNGN)
from The Oberweis Report
Financial Engines (FNGN) is a provider of independent, technology-enabled portfolio management services, investment advice and retirement income services primarily to participants in employer-sponsored defined contribution plans, such as 401(k) plans.
The company helps investors plan for retirement by offering personalized plans for saving and investing, as well as by providing assessments of retirement income needs and readiness, regardless of personal wealth or investment account size. Financial Engines uses its proprietary advice technology platform to provide independent, personalized portfolio management, investment advice and retirement income services to millions of retirement plan participants on a cost-efficient basis.
The company generates revenue primarily from management fees on Assets Under Management (AUM), as well as from platform fees, by providing portfolio management services, investment advice and retirement income services.
Financial Engines was co-founded in 1996 by Nobel Prize-winning economist Bill Sharpe. In the company’s latest reported second quarter, sales increased approximately 21% to $69.8 million from $57.8 million in the second quarter of last year. FNGN reported earnings per share of $.25 in the latest reported second quarter versus $.16 in the same quarter of last year.
Jim Oberweis, CFA, The Oberweis Report, www.oberweisreport.com, 800-323-6166, September 2014