E.F. Hutton Group attributed increased third-quarter earnings...

E.F. Hutton Group attributed increased third-quarter earnings to its rebound of principal transactions revenue and the continued strong performance of the individual investor services group, particularly the asset management division. The New York-based firm said its revenue also had increased 13% in the third quarter, compared to the same period last year. Commission revenue increased 36%, principal transactions revenue increased 64% and asset management fees reached a new quarterly high, increasing 77%. Declines in investment banking and other revenue, along with increases in compensation costs and other expenses relating to the growth of the company, partially offset these improvements.