SIEBERT FINANCIAL CORP Files SEC form 10-K, Annual Report

Item 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS This discussion should be read in conjunction with our audited Consolidated Financial Statements and the Notes thereto contained elsewhere in this Annual Report. The financial crisis affecting the global economy has created historic volatility in the market place. Our working capital is invested in short term United States Treasury Bills, and to date the financial crisis has not had a material effect on our liquidity or financial position. We, like other securities firms, are directly affected by general economic and market conditions including fluctuations in volume and prices of securities, changes and the prospect of changes in interest rates, and demand for brokerage and investment banking services, all of which can affect our profitability. In addition, in periods of reduced financial market activity, profitability is likely to be adversely affected because certain expenses remain relatively fixed, including salaries and related costs, portions of communications costs and occupancy expenses. Accordingly, earnings for any period should not be considered representative of earnings to be expected for any other period. To date our revenues have not been adversely affected as a result of the financial crisis. Competition continues to intensify among all types of brokerage firms, including established discount brokers and new firms entering the on-line brokerage business. Electronic trading continues to account for an increasing amount of trading activity, with some firms charging very low trading execution fees that are difficult for any conventional discount firm to meet. Some of these brokers, however, impose asset based charges for services such as mailing, transfers and handling exchanges which we do not currently impose, and also direct their orders to market makers where they have a financial interest. Continued competition could limit our growth or even lead to a decli...
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[$$] The Long and the Short of It

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SIEBERT FINANCIAL CORP Financials

PERIOD ENDING30-Jun-0931-Mar-0931-Dec-0830-Sep-08Total Revenue7,274  7,000  7,313  7,165  Cost of Revenue(3,422)6,456  16,547  (1,873)Gross Profit10,696  544  (9,234)9,038  Operating ExpensesResearch Development -   -   -   -  Selling General and Administrative11,154  1,920  (7,284)10,752  Non Recurring -   -   -   -  Others -   -   -   -  Total Operating Expenses -   -   -   -  Operating Income or Loss(458)(1,376)(1,950)(1,714)Income from Continuing OperationsTotal Other Income/Expenses Net -   -   -   -  Earnings Before Interest And Taxes986  (532)(1,938)(1,606)Interest Expense -   -   -   -  Income Before Tax986  (532)(1,938)(1,606)Income Tax Expense422  (200)(669)(675)Minority Interest -   -   -   -  Net Income From Continuing Ops564  (332)(1,269)(931)Non-recurring EventsDiscontinued Operations -   -   -   -  Extraordinary Items -   -   -   -  Effect Of Accounting Changes -   -   -   - &n...
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SIEBERT FINANCIAL CORP Files SEC form 10-Q, Quarterly Report

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations This discussion should be read in conjunction with our audited consolidated financial statements as of and for the year ended December 31, 2008, and the unaudited consolidated financial statements and the notes thereto contained elsewhere in this Quarterly Report. Business Environment The stock market rebounded in the second quarter of 2009 despite the volatility in the marketplace due to the financial crisis affecting the global economy. Competition in the securities industry remains intense especially with regard to retail customer account acquisition and retention. Like other securities firms, we are directly affected by general economic and market conditions including fluctuations in volume and prices of securities, changes and prospects for changes in interest rates and demand for brokerage and investment banking services, all of which can affect our relative profitability. In periods of reduced market activity, profitability is likely to be adversely affected because certain expenses, including salaries and related costs, portions of communications costs and occupancy expenses remain relatively fixed. Earnings, or loss, for any period should not be considered representative of any other period. Recent Developments On January 23, 2008, the Board of Directors of the Company authorized a buy back of up to 300,000 shares of common stock. During the six months ended June 30, 2009, the Company purchased 8,017 shares at an average price of $1.67. Critical Accounting Policies We generally follow accounting policies standard in the brokerage industry and believe that our policies appropriately reflect our financial position and results of operations. Our management makes significant "estimates" that effect the reported amounts of assets, liabilities, revenues and expenses and the related disclosure of contingent assets an...
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SIEBERT FINANCIAL CORP Files SEC form 10-Q, Quarterly Report

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations This discussion should be read in conjunction with our audited consolidated financial statements as of and for the year ended December 31, 2008, and our unaudited Consolidated Financial Statements and the Notes thereto contained elsewhere in this Quarterly Report. Business Environment The stock markets posted new lows in the first quarter 2009 as a result of the financial crisis affecting the global economy. Competition in the brokerage industry remains intense. Like other securities firms, we are directly affected by general economic and market conditions including fluctuations in volume and prices of securities, changes and prospects for changes in interest rates and demand for brokerage and investment banking services, all of which can affect our relative profitability. In periods of reduced financial market activity, profitability is likely to be adversely affected because certain expenses remain relatively fixed, including salaries and related costs, portions of communications costs and occupancy expenses. Accordingly, earnings or loss for any period should not be considered representative of any other period. Recent Developments On January 22, 2008, our Board of Directors authorized a buy back of up to 300,000 shares of common stock. Shares will be purchased from time to time, in our discretion, in the open market and in private transactions. The Company purchased 4,382 shares at an average price of $1.68 in the first quarter of 2009. Critical Accounting Policies We generally follow accounting policies standard in the brokerage industry and believe that our policies appropriately reflect our financial position and results of operations. Our management makes significant "estimates" that effect the reported amounts of assets, liabilities, revenues and expenses and the related disclosure of contingent assets and lia...
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Muriel Siebert & Co., Inc., Continues Capital Markets Expansion with Appointments of Cheryl Weller-Thornton and John Gill as Managing Directors, Institutional Equity

NEW YORK--(BUSINESS WIRE)--Muriel Siebert & Co., Inc., a wholly owned subsidiary of Siebert Financial Corp. (Nasdaq: SIEB - News), today announced that Cheryl Weller-Thornton and John Gill have joined its Capital Markets Group as managing directors in the firm’s Institutional Equity Division, effective immediately. "Cheryl Weller-Thornton and John Gill are highly experienced veterans and, through their appointments, we underscore our ongoing commitment to delivering superior customer service to our large institutional client base,” said Muriel F. "Mickie" Siebert, president, chief executive and chairwoman of Siebert Financial. "Their extensive customer relationships and knowledge of the equity markets will enable us to continue expanding while also providing the excellent service our customers have come to expect from us.”Ms. Weller-Thornton is a seasoned capital markets professional with more than 25 years of experience. Most recently she was with Oppenheimer/ CIBC World Markets in San Francisco. Previously, she was a Managing Director with Alex Brown & Sons and Paine Webber. Ms. Weller–Thornton will provide Siebert with West Coast account coverage, while working out of the firm’s Beverly Hills office.Mr. Gill joins the Siebert Institutional Equity Trading desk in New York. Most recently he was with Bear Stearns where he acquired more than 25 years of sector tra...
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SIEBERT FINANCIAL CORP Files SEC form 10-Q, Quarterly Report

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations This discussion should be read in conjunction with the our audited consolidated financial statements as of and for the year ended December 31, 2008, and the unaudited consolidated financial statements and the notes thereto contained elsewhere in this Quarterly Report. Business Environment The stock market rebounded in the third quarter of 2009 despite the volatility in the marketplace due to the financial crisis affecting the global economy. Competition in the securities industry remains intense especially with regard to retail customer account acquisition and retention. Like other securities firms, we are directly affected by general economic and market conditions including fluctuations in volume and prices of securities, changes and prospects for changes in interest rates and demand for brokerage and investment banking services, all of which can affect our relative profitability. In periods of reduced market activity, profitability is likely to be adversely affected because certain expenses, including salaries and related costs, portions of communications costs and occupancy expenses remain relatively fixed. Earnings, or loss, for any period should not be considered representative of any other period. Recent Developments On January 22, 2008, the Board of Directors of the Company authorized a buy back of up to 300,000 shares of common stock. During the nine months ended September 30, 2009, 12,673 shares have been purchased at an average price of $1.86 per share. Critical Accounting Policies We generally follow accounting policies standard in the brokerage industry and believe that our policies appropriately reflect our financial position and results of operations. Our management makes significant estimates that affect the reported amounts of assets, liabilities, revenues and expenses and the related disclosure of contingent assets...
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