TMX Group Inc. reports results for Third Quarter 2011

TMX Group Inc. reports results for Third Quarter 2011

08/11/2011

  • Revenue of $167.8 million in Q3/11, up 15% from Q3/10
  • Q3/11 diluted earnings per share of 90 cents, up 22% from Q3/10
  • Adjusted diluted earnings per share of $0.92 in Q3/11, up 24% compared with diluted earnings per share of $0.74 in Q3/10
  • Revenue of $511.8 million in the first nine months of 2011, up 13% compared with the first nine months of 2010
  • Diluted earnings per share of $2.47 in the first nine months of 2011, up 8% compared with diluted earnings per share of $2.29 in first nine months of 2010
  • Adjusted diluted earnings per share of $2.83 in the first nine months of 2011, up 24% compared with diluted earnings per share of $2.29 in first nine months of 2010

TMX Group Inc. [TSX:X] announced results for the third quarter ended September 30, 2011.

Commenting on the third quarter of 2011, Thomas Kloet, Chief Executive Officer of TMX Group Inc. (TMX Group) said: “We are proud to report very positive results for the third quarter and first nine months of 2011. Our performance to date this year reflects the operational strength across our business in unsettled global markets. We continued to attract new issuers to our equity markets, and provide an important venue for raising capital. In our derivatives markets, MX continued to set new records for volumes and open interest and we saw strong activity on BOX in the third quarter. This past quarter also marked the launch of our new alternative trading system, TMX Select. We are encouraged with the early traction it is gaining in the market.”“ At the end of October, our Board concluded that the Maple proposal is in the best interests of shareholders and provides a unique opportunity to create a fully integrated exchange group that can provide efficiencies and capabilities for the benefit of all market participants. Through this transaction, we enhance our business plan which strives to diversify our business, accelerate our growth and improve our position among global players. The approval process has been initiated and we are working in close collaboration with Maple investors towards obtaining approval of a transaction that enhances and strengthens Canadian capital markets and all of its participants.”

Michael Ptasznik, Chief Financial Officer of TMX Group said: “Net income attributable to TMX Group shareholders was up 21% over Q3/10, reflecting higher revenue from derivative markets trading and clearing, issuer services, and information services. Partially offsetting the increased revenue were higher expenses in the third quarter compared with the same period last year, including LSEG and Maple related costs. We continue to invest in our leading technologies, and over the past year we have also added resources in the growing areas of our business including issuer services, information services and Canadian derivatives trading and clearing.”

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