Raymond James financials up

Raymond James Financial Inc. reported a roughly nine-fold increase in net income compared to last year's second quarter in its most recent earnings announcement, released this week.

Net income for the quarter ended March 31 was $55.63 million compared to the $6.09 million in net income earned in the second quarter of the 2009 fiscal year. Net revenues were $734.44 million, up 26%.

The increases were driven partly by the company's recent successes, and partly by the impact a down market had on 2009 performance, said CEO Thomas A. James in a statement accompanying the release.