BM&FBOVESPA S.A announces earnings for the third quarter of 2009

BM&FBOVESPA S.A announces earnings for the third quarter of 2009

Net income reached R$245.8 million with earnings per share of R$0.120, a 4.3% rise over pro forma net income for the same period one year ago. Adjusted net income (as adjusted by items with no impact on cash flow) totaled R$337.3 million, with adjusted EPS of R$0.165.

Net income of R$245.8 million increased 4.3% year-on-year, whereas adjusted net income of R$337.3 million rose 6.8% over adjusted pro forma net income for the three-month period to September 20081.

3Q09 net revenues of R$383.0 million contracted 6.5% from the same quarter one year ago. In a comparison of the nine months to September 2009, net revenues dropped 13.8% to R$1,077.8 million.

3Q09 operating expenses reached R$ 132.5 million, a 4.0% decline from one year ago. As adjusted by items with no impact on cash flow, such as depreciation and the employee stock options plan, operating expenses for the quarter amounted to R$109.0 million, a 16.2% retreat from adjusted expenses for the same period one year earlier, and in line with the R$450.0 million target for 2009.

EBITDA totaled R$262.0 million for the third quarter, down 6.3% from 3Q08, and R$698.7 million for the nine months to September 2009, a year-on-year drop of 18.2%. The EBITDA margin kept a flat line in a comparison of the quarters to September 2009 (68.4%) and September 2008 (68.3%)

The board of directors approved distributions of R$150 million as dividends.

FINANCIAL HIGHLIGHTS
Net income for 3Q09 amounted to R$245.8 million (EPS of R$0.120), a 4.3% rise from the quarter to September 2008. In the nine months to September 2009 net income totaled R$660.9 million, a 4.7% climb over pro forma net income for the same period in 2008.

3Q09 adjusted net income, of R$337.3 million, was up 6.8% from adjusted pro forma net income for the same period one year ago, whereas adjusted net income of R$ 908.5 million for the nine months to September surged 18.8% year-on-year.

§ Adjusted net income - adjustments to quarterly net income amounted to R$91.5 million, composed of two items with no impact on cash flow, meaning addition of R$79.6 million, which correlate with recognition of deferred liabilities related to amortization of goodwill, and of R$11.9 million in expenses with the stock options plan.

§ In the third quarter of 2008, the adjustment excluded the net effect of amortization of goodwill in the amount of R$ 80.3 million.