Financial planning and tax prep firm Gilman + Ciocia, based here, has plans to expand in the Northeast, with the opening of three new offices slated for this month.
The firm, which currently has 36 offices in six states, will kick off the expansion with the Jan. 20 opening of an office in Toms River, N.J. Gilman Ciocia has plans to open additional offices in the Bronx, N.Y., and in Lake Ronkonkoma, N.Y., within the month.
Gilman + Ciocia ranked No. 27 on the 2004 Accounting Today Top 100 Firms list with revenues of $62.86 million. The sale of many of its offices two years ago pushed the publicly traded financial planning and tax prep firm into the black for fiscal 2004, as a $6.1 million gain on that sale wiped out an operating loss of just over $1 million for the year ended June 30.
The result was net income of $5.1 million for fiscal 2004, compared to a loss of just under $14 million for 2003. Revenue rose to $59.9 million in the most recently ended year, up from $54.2 million the prior year.
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