dear shareholders in every sense of the word was a success at ameritrade we demonstrated our ability to operate effectively and produce record results while delivering outstanding products services clients illustrating perhaps greatest competitive advantage saw an agile opportunistic focused brokerage strategy pay off despite another unpredictable environment thanks bold steps taken over past few years solidify operating model i m pleased present examples what were able accomplish fiscal four quarters best history this company see graph on previous page pre tax margin percent once again led publicly traded peers 1 online industry client retail equity trades 2 earnings per share doubled from last year nearly return shareholder continued pursue beneficial acquisition opportunities acquiring bidwell & accounts brokerageamerica investex also announced jb oxford have since completed purchase continue believe current
