TMX Group Q4 income falls

Source: TMX Group

TMX Group Inc. [TSX:X] announced results for the full year and fourth quarter ended December 31, 2011.

  • Diluted earnings per share∇ of $3.17 in 2011, down 1% compared with diluted earnings per share of $3.19 in 2010
  • Adjusted diluted earnings per share of $3.57 in 2011, up 11% compared with adjusted diluted earnings per share of $3.21 in 2010
  • Revenue of $161.7 million in Q4/11, down 7% from Q4/10
  • Q4/11 diluted earnings per share∇ of 70 cents, down 22% from Q4/10
  • Adjusted diluted earnings per share of $0.74 in Q4/11, down 20% compared with adjusted diluted earnings per share of $0.92 in Q4/10 

Commenting on 2011, Thomas Kloet, Chief Executive Officer of TMX Group Inc. (TMX Group) said: "In a year with significant corporate development activity, we were pleased to deliver growth in revenue and operating income, reflecting strength across our major revenue lines.

Despite uncertainty in the global economy, we attracted an increased number of new issuers to our equity markets compared to 2010 and continue to provide an attractive venue for raising capital. In our derivatives markets, MX continued to set new records for volumes and open interest and we witnessed significant strength in BOX's performance compared with 2010. We also launched a host of new products, services and platforms across our businesses during the year."

Michael Ptasznik, Chief Financial Officer of TMX Group said: "Reflecting the slowdown in listing and equity trading markets during the fourth quarter, net income attributable to TMX Group shareholders was down 21% compared to the same period last year. Partially offsetting this decreased revenue was strength in our derivatives business, both from MX and BOX, as well as continued growth driven by recent product offerings from our information services operation. Our costs were higher in the fourth quarter compared with the fourth quarter of last year as we continue to deploy new technologies and add resources to generate growth."continue to deploy new technolechnologies and add resources to generate growth."

Read the full statement here

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