IntercontinentalExchange Announces 2004 Results

IntercontinentalExchange® (ICE®) yesterday announced its 2004 financial results. On a consolidated basis, ICE reported revenues of $108.4 million and consolidated net income of $22.0 million. Consolidated cash flow from operations was $40.3 million. Capital expenditures and capitalized software in 2004 totaled $6.5 million. During 2004, ICE redeemed its Class B redeemable common stock for an aggregate redemption price of $67.5 million. At January 31, 2005, ICE had $13.0 million in long- and short-term debt and $69.4 million in cash and short-term investments, of which $18.2 million was restricted under regulation or by agreement.

For 2004, volume traded on ICE's futures subsidiary, the International Petroleum Exchange (IPE), reached 35.5 million contracts. During the year, electronically traded IPE Brent crude futures volumes increased as a percent of total contract volume following the move to exclusively electronic morning trading sessions. Electronically traded IPE Brent volume increased from 2.8% of total contract volume in January 2004 to 27.2% of total contract volume in December 2004. The IPE ended the year with regulatory or legal clearances for 27 non-UK jurisdictions for trading electronic IPE futures, and increased availability of order-routing through its independent software vendor (ISV) program, which now includes seven ISVs.