- Revenue of $112.4 million for Q1/08, up 11% over Q1/07
- Diluted earnings per share of 49 cents for Q1/08, after a reduction of 23 cents per share related to termination of joint venture, versus 53 cents in Q1/07
- Adjusted earnings per share prior to loss on termination of joint venture* was 72 cents (on a basic and diluted basis), an increase of 36% over Q1/
- Expenses of $45.0 million for Q1/08, down 4% over Q1/07
- Intends to resume purchases of common shares under NCIB
TSX Group Inc. [TSX:X] announced results for the first quarter ended March 31, 2008:
Revenue in Q1/08 was $112.4 million, up 11% as compared with $101.1 million in Q1/07, reflecting increased issuer services and market data revenue, partially offset by a slight decrease in trading revenue. Net income for Q1/08 decreased by 10% over Q1/07 to $32.7 million, or 49 cents per share (on both a basic and diluted basis), due to a payment of $15.2 million to ISE Ventures, LLC (ISE Ventures), a wholly-owned subsidiary of International Securities Exchange Holdings, Inc. (ISE), related to terminating our previously announced joint venture to operate DEX, a new Canadian derivatives exchange. The impact of this charge, which is not being deducted for income tax purposes, more than offset the positive impact of increased revenue and lower expenses in Q1/08 compared with Q1/07. Adjusted earnings per share prior to loss on termination of joint venture* for Q1/08 was 72 cents (on both a basic and diluted basis).
Click here for full details.