The sale of many of its offices two years ago pushed financial planning and tax prep firm Gilman+Ciocia Inc. 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. The company says that it derives just over 89 percent of its revenue from financial planning services, and the remainder from tax preparation fees.
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