Short Takes: Quick & Reilly's Profits Surged 26% in Quarter

Quick & Reilly Group, which Fleet Financial Group is buying, announced a 26% earnings increase and a 50% jump in total revenues for its third quarter, which ended Nov. 28.

Boston-based Fleet is expected this month to complete its $1.6 billion acquisition of the discount brokerage firm, based in Palm Beach, Fla.

Quick & Reilly said its net income rose to $23.21 million or 60 cents a share in the third quarter, compared with the $18.43 million or 49 cents a share earned during its 1996 third quarter.

Revenues for the third quarter totaled $177.1 million, versus $118 million during the year-earlier period.

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