IntercontinentalExchange reports record quarterly revenues of $256 million, up 27%
IntercontinentalExchange reports record quarterly revenues of $256 million, up 27% - Diluted EPS up 13% to $1.18 for third quarter
IntercontinentalExchange, Inc. (NYSE: ICE), a leading operator of regulated global exchanges, clearing houses and over-the-counter (OTC) markets, today reported record consolidated revenues of $256 million in the third quarter of 2009, an increase of 27% from third quarter 2008 revenues of $201 million. Consolidated net income for the third quarter grew 16% to $87 million from $75 million in the prior third quarter. Diluted earnings per share (EPS) in the third quarter were $1.18, up 13% from third quarter 2008 diluted EPS of $1.04.
Said ICE Chairman and CEO Jeffrey C. Sprecher: "ICE has brought innovation to the financial services sector to help ensure the health of the markets we serve, while maintaining a focus on growth. Over the past year, our markets have shown resilience as customers worldwide increasingly demand the trading and risk management services we offer. We believe that the financial market reforms currently under way will provide greater certainty to market participants, as well as additional opportunities for ICE to leverage the valuable exchange, technology and clearing infrastructure that it has developed over the past decade."
ICE CFO Scott Hill added: "Our results in the third quarter reflect strong performance in our core business, as well as ongoing investment in and successful execution of newer initiatives, such as OTC clearing. In addition to top-line growth, our operating margins again improved sequentially, and we delivered increased earnings and cash flow. Our consistent cash generation, strong balance sheet and disciplined investment throughout the market downturn position us well to deliver increasing value to our customers and shareholders."
Third Quarter 2009 Results (click for full article)