Interactive Data Corporation (NYSE: IDC) today reported its financial results for the second quarter ended June 30, 2006.
Second-quarter 2006 revenue grew 13.7% to $151.2 million from $133.0 million in the second quarter of 2005. Net income for the second quarter of 2006 was $21.9 million, or $0.23 per diluted share, which includes $2.0 million of after-tax, stock-based compensation expense associated with the adoption of Financial Accounting Standards Board Statement No. 123 (FAS 123R), compared with $22.4 million, or $0.23 per diluted share, in the same quarter last year.
"Our second-quarter 2006 results demonstrate steady progress in expanding our business globally as well as in advancing initiatives we believe are fundamental to driving long-term growth and generating higher levels of profitability," stated Stuart Clark, president and chief executive officer. "Our revenue growth in the second quarter of 2006 primarily reflects the contribution from acquisitions plus organic expansion within FT Interactive Data. Our second-quarter 2006 net income reflects the after-tax impact associated with the adoption of FAS 123R and a higher effective tax rate."
Clark continued, "During the second quarter of 2006, we achieved a number of important operational objectives in terms of expanding major customer relationships in North America and Europe, advancing key product development projects, integrating our recent acquisitions and strengthening our management team. Within the Institutional Services segment, we are successfully identifying and pursuing cross-selling opportunities to further increase our business within our largest accounts. Renewal rates for our institutionally oriented businesses remained approximately 95%. Within the Active Trader Services segment, eSignal continued to expand its direct subscriber base while also enhancing its family of financial websites."» Download the document now 44.9 kb (Adobe Acrobat Document)