Nyse Euronext posts Q4 profit

Source: Nyse Euronext

Nyse Euronext (NYX) a leading global operator of financial markets and provider of innovative trading technologies, today reported net income of $172 million, or $0.66 per diluted share for the fourth quarter of 2009, compared to a net loss of ($1,338) million, or ($5.06) per diluted share for the fourth quarter of 2008.

  • Third consecutive quarterly increase in net revenues and earnings per share
  • EPS of $0.58, up 12% versus 4Q08; up 9% versus 3Q09
  • Net revenue of $640 million, down 6% versus 4Q08; up 3% versus 3Q09
  • Derivatives net revenue up 21% versus 4Q08; U.S. options market share increases to 24% in 4Q09
  • Fixed operating expenses down 16% and 11% versus 4Q08 and full-year 2008, respectively, adjusted for acquisitions, foreign currency fluctuations and investment in new businesses
  • Closed the acquisition of NYFIX and semi-mutualization of NYSE Liffe U.S.
  • Signed definitive agreement for semi-mutualization of NYSE Amex Options
  • 14% reduction in staff year-over-year excluding NYFIX

Fourth quarter 2009 GAAP results include the impact of merger expenses and exit costs and the requisite reversal of discrete tax reserves. Fourth quarter 2008 results include the impact of merger expenses and exit costs and a non-cash charge for the impairment of certain goodwill and indefinite-lived intangible assets. Non-GAAP diluted earnings per share excluding these items was $0.58 in the fourth quarter of 2009, compared to $0.52 in the fourth quarter of 2008.

"Our fourth quarter and full-year results were solid, reflecting growing revenue and earnings power driven by our new businesses and our continuing efforts to harmonize our technology infrastructure and trading platforms," said Duncan L. Niederauer, CEO, NYSE Euronext. "With the addition of NYFIX Marketplace, we expanded our customer base and points of connectivity with our trading communities. We moved forward with the semi-mutualization of our U.S. futures platform, and we plan to do the same with the NYSE Amex options business. We continue to make progress with the migration to the Universal Trading Platform that will provide global scale and will be a competitive differentiator and with our data center build-out nearly complete, we will expand the suite of technology services we offer our clients today, while enhancing our ability to develop the cutting-edge products of the future."

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