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Nyse Euronext posts Q1 net income rise

28 April 2011  |  2624 views  |  0 Source: Nyse Euronext

Nyse Euronext (NYX) today reported net income of $155 million, or $0.59 per diluted share for the first quarter of 2011, compared to net income of $130 million, or $0.50 per diluted share for the first quarter of 2010.

Results for the first quarter of 2011 and 2010 include $21 million and $13 million, respectively, of pre-tax merger expenses and exit costs. Merger expenses and exit costs in the first quarter of 2011 included $15 million related to the proposed merger with Deutsche Boerse. Excluding the impact of these items, net income in the first quarter of 2011 was $177 million, or $0.68 per diluted share, compared to $140 million, or $0.54 per diluted share, in the first quarter of 2010.

"These solid results reflect growing strength and momentum across our businesses and validate our long-term strategy to focus on diversifying and expanding our global footprint as the leading global multi-asset exchange," said Duncan L. Niederauer, CEO, NYSE Euronext. "Our innovative NYSE Liffe U.S. launch of interest rate products is off to a strong start, bolstered by the unique benefits of New York Portfolio Clearing. Our listings franchise continues to expand through transfers from Nasdaq, and we were the global leader in IPOs in the first quarter. Lastly, our technology services pipeline continues to build and will accelerate toward our stated revenue goals for 2011.

"We are confident that our strong standalone growth prospects will be enhanced and accelerated by the proposed merger with Deutsche Boerse, through significant efficiency gains, earnings growth and multiple expansion for our shareholders. I look forward to articulating the power of the proposed combination at our annual stockholder meeting later today in New York."

Read the full statement here:

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