Investors Capital posts record revenue

Investors Capital Holdings LTD posted a record $80 million in revenue the fiscal year ended March 31, for an increase of 17.72% over the 2006 fiscal year. However, the Lynnfield, Mass.-based financial services company posted a $1.08 million loss due to legal expenses. The firm’s investment advisory services division, Investors Capital Advisory Services also posted positive results. Advisory revenue rose 31.45% to $6,767,136 for the fiscal year ended March 31. At fiscal year end, ICAS had 365 registered investment advisers, a 4.58% increase over the previous period, and assets under management of $515 million, an increase of 64% over the previous period.