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- Revenue of $182.1 million, up 6% from Q1/13
- Diluted earnings per share of 86 cents, up 23% from 70 cents in Q1/13
- Adjusted diluted earnings per share of $1.05, up 35% from 78 cents per share in Q1/13
- Adjusted diluted earnings per share of $1.05 excludes:
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- 14 cents per share of amortization of intangibles related to acquisitions
- 5 cents per share charge related to Maple Transaction and integration costs
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TMX Group Limited [TSX:X] (“TMX Group”) today announced results for the first quarter ended March 31, 2014.
Commenting on Q1 2014, Thomas Kloet, Chief Executive Officer of TMX Group, said:
“We are extremely pleased with the company’s operating performance this past quarter across all of our businesses. In particular there was evidence of some turnaround in market activity, which translated into increased additional financings on Toronto Stock Exchange as well as higher cash, Canadian derivatives and energy markets trading and clearing volumes. The integration of TMX Group Inc., CDS and Alpha is now largely complete. The success of these activities is now also becoming evident in our financial performance. Going forward, we will invest in new revenue-generating opportunities in various parts of our business.”
Michael Ptasznik, Chief Financial Officer of TMX Group, said:
“Revenue grew by 6% in Q1/14 over Q1/13, largely driven by the increased trading and clearing volume across our Canadian marketplaces. Operating expenses declined by 6% in Q1/14 compared with Q1/13 as we exceeded our original cost synergies target. These expenses were somewhat lower due to the timing of initiative spending. We also benefitted from lower financing costs due to the restructuring of our long-term debt last year. We experienced 23% growth in EPS and 35% growth in adjusted EPS as a result of the revenue growth and our largely fixed-cost structure.”
Click here for a summary Of Financial Information.
