Welcome to our dedicated page for Daily Journal Corporation news (Ticker: $DJCO), a resource for investors and traders seeking the latest updates and insights on Daily Journal Corporation stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Daily Journal Corporation's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Daily Journal Corporation's position in the market.
Daily Journal (NASDAQ:DJCO) reported financial results for the six months ended March 31, 2024. Consolidated revenues increased to $32.56 million from $28.45 million year-over-year. This growth was driven by Journal Technologies' higher license and maintenance fees and an uptick in public service fees. Conversely, consulting fees declined slightly.
The Traditional Business segment saw a pretax income decrease to $861,000, impacted by increased personnel costs. Meanwhile, Journal Technologies recorded an increase in pretax income, reversing a prior loss, primarily due to higher revenues.
At the end of March 2024, the company held marketable securities worth $297 million, with net pretax unrealized gains of $157.91 million. The company reduced its margin loan balance significantly, using proceeds from securities sales. Non-operating income dropped by $1.18 million due to lower unrealized gains and dividends but was partly offset by higher realized gains from securities sales.
Consolidated pretax income slightly decreased to $36.36 million, while net income rose to $28.03 million ($20.36 per share). The effective tax rate for this period was 22.9%.