- Revenue of $182.3 million in Q2/13, up 6% compared with Q1/13
- Diluted earnings per share of 47 cents in Q2/13
- Adjusted diluted earnings per share of 89 cents in Q2/13, up 14% compared with Q1/13
- Adjusted diluted earnings per share of 89 cents excludes:
- 22 cents per share charge related to the sale of PC-Bond and related income tax expense;
- 5 cents per share charge related to an increase in deferred income tax liabilities resulting from the change in B.C. corporate income tax rate; and
- 15 cents per share of amortization of intangible assets related to acquisitions
TMX Group Limited [TSX:X] (“TMX Group”) today announced results for the second quarter ended June 30, 2013.
Commenting on Q2/13, Thomas Kloet, Chief Executive Officer of TMX Group said:
“TMX Group made consistent operational and strategic progress in the second quarter. Our integration work with CDS and Alpha is advancing very well and we are working together to identify new opportunities to serve our customers by having listing, clearing and trading activities across multiple asset classes under common ownership. In parallel, we have strengthened our issuer services portfolio with the acquisition of Equity Financial’s transfer agency and corporate trust services business, and formed FTSE TMX Global Debt Capital Markets Limited, opening a new global growth opportunity in the fixedincome index business in which we hold a 25% interest.”
“While a general slowdown in capital markets activity in Canada has impacted our equities business, we benefited from the diversity of our portfolio as revenue from Montreal Exchange and CDCC continued to grow sequentially. We continue to promote Canadian capital markets on the global stage and are focused on attracting both global issuers and investors to our exchanges. We believe the group is well positioned for the future and is making the necessary investments to drive our global competitiveness while appropriately managing our cost base.”
Michael Ptasznik, Chief Financial Officer of TMX Group, said:
“The 6% sequential improvement in our revenues over Q1/13 reflects an increase in initial and additional listing fee revenue, the positive contribution of the business acquired from Equity Financial, higher derivatives trading and clearing revenue, somewhat offset by the reduction in revenue following the sale of PC-Bond. This contributed to a 14% sequential increase in adjusted diluted earnings per share.”
“Operationally, we remain highly focused on achieving maximum cost synergies from the integration of TMX Group Inc., CDS, and Alpha. In parallel, we are working across the organization to identify cost reduction opportunities to both reflect the current business environment and help fund important development opportunities to enhance our business and competitive position.”
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