Schwab Reports Fourth Quarter EPS of $.10

The Charles Schwab Corporation SCHW announced today that its net income was $119 million for the fourth quarter of 2010, down 27% from $164 million for the fourth quarter of 2009. Prior to the inclusion of charges relating to the Schwab YieldPlus Fund, Schwab's fourth quarter net income was $218 million, up 33% over the year ago period. For the twelve months ended December 31, 2010, the company's net income was $454 million, down 42% from the year-earlier period. The company's 2010 net income prior to the inclusion of charges relating to YieldPlus and other previously disclosed matters totaled $775 million. Diluted earnings per share was $ 0.10.