IntercontinentalExchange reports record quarterly revenues

IntercontinentalExchange reports record quarterly revenues



  • 1Q10 Revenues of $282 MM, Up 22%
  • 1Q10 Operating Income of $164 MM, Up 44%
  • 1Q10 Operating Cash Flow of $102 MM, Up 50%
  • 1Q10 Net Income Attributable to ICE of $101 MM; Diluted EPS of $1.36


IntercontinentalExchange, Inc. (NYSE: ICE), a leading operator of regulated global exchanges and over-the-counter (OTC) markets, today reported record financial results for the first quarter of 2010, including consolidated revenues of $282 million, an increase of 22% over first quarter 2009 revenues of $232 million. First quarter 2010 consolidated net income attributable to ICE was a record $101 million, a 40% increase from first quarter 2009 net income of $72 million. Diluted earnings per share (EPS) in the first quarter rose 39% to $1.36, compared to first quarter 2009 EPS of $0.98. Adjusted net income attributable to ICE and adjusted diluted EPS increased 26% and 25%, respectively, excluding $13 million in pre-tax acquisition and restructuring charges incurred during the first quarter of 2009. For further details, please refer to the reconciliation of first quarter 2009 non-GAAP financial measures included in this press release.

Said ICE Chairman and CEO Jeffrey C. Sprecher: "ICE once again achieved solid growth on top of the industry-leading performance we delivered throughout the difficult market environment of the past two years. We have positioned the company to serve the needs of the OTC and futures markets globally and we remain intensely focused on building our business for our customers and shareholders. Our successful expansion into new markets, clearing and continued product innovation demonstrates our leadership in delivering industry solutions. Against a backdrop of increasing demand for transparency and clearing, we believe ICE is well positioned to continue to outperform its peers."

ICE CFO Scott Hill added: "With our strong start to 2010, we have built upon our track record of consistently delivering solid financial results and increasing shareholder value. Our strategy is to leverage our industry leading technology, depth of OTC execution, processing and clearing capabilities, diverse product and geographic profile and strong financial position. As a result, we have consistently delivered revenue and profit growth, margin expansion and industry leading returns on capital. The successful execution of our strategy is enabled by a disciplined approach to expense management and a focus on efficient capital deployment."