Nyse Euronext posts Q1 income rise

Source: Nyse Euronext

Financial and Operating Highlights (1) (2)

* New businesses continue to gain traction
* EPS of $0.54, up 26%
* Net revenue of $645 million, up 7% representing the fourth consecutive quarterly increase
* Fixed operating expenses of $427 million, below 4Q09 levels despite impact of NYFIX
* Adjusted operating income of $218 million, up 19%
* Adjusted EBITDA margin of 44% versus 41%
* Board Declares Quarterly Dividend of $0.30 per share

1) All comparisons versus 1Q09 unless otherwise stated. Excludes merger expenses and exit costs.

2) Adjusted EBITDA defined as earnings before interest, taxes, depreciation and amortization, computed as adjusted operating income excluding depreciation and amortization.

NYSE Euronext (NYX) today reported net income of $130 million, or $0.50 per diluted share for the first quarter of 2010, compared to net income of $104 million, or $0.40 per diluted share for the first quarter of 2009. Results for the first quarter of 2010 and 2009 include $13 million and $23 million, respectively, of pre-tax merger expenses and exit costs. Excluding the impact of these items, net income in the first quarter of 2010 was $140 million, or $0.54 per diluted share, compared to $112 million, or $0.43 per diluted share in the first quarter of 2009.

"Our solid first quarter results were driven by strong growth from our derivatives businesses and the first full-quarter's impact of the NYFIX acquisition," said Duncan L. Niederauer, CEO, NYSE Euronext. "We will look to build on this growth with the anticipated regulatory approval and planned third quarter 2010 launch of New York Portfolio Clearing, coinciding with the launch of interest rate futures contracts on NYSE Liffe U.S. and with the go-live of our new data centers in the second-half of the year, which will drive new revenue for our NYSE Technologies business."

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