- Revenue of $180.7 million, essentially unchanged from Q4/12
- Diluted earnings per share of 77 cents in Q4/13, up 26% from Q4/12
- Adjusted diluted earnings per share of 96 cents in Q4/13, up from 95 cents per share
- Adjusted diluted earnings per share of 96 cents excludes:
- 15 cents per share of amortization of intangibles related to acquisitions
- 3 cents per share charge related to Maple transaction and integration costs
- 1 cent per share related to an adjustment to the gain on the sale of PC-Bond
TMX Group Limited [TSX:X] (“TMX Group”) today announced results for the fourth quarter ended December 31, 2013.
Commenting on Q4 and 2013, Thomas Kloet, Chief Executive Officer of TMX Group, said:
“We were very pleased with our accomplishments in 2013, including the successful integration of TMX Group Inc., CDS, and Alpha. Despite subdued equities market activity in Canada, TMX Group produced good results for the fourth quarter, with adjusted EPS higher than both the fourth quarter of 2012 and the third quarter of 2013. We continue to be successful with our diversification efforts as we expand our products into new areas, particularly for our listed issuers through Equity Transfer. In 2014, we look forward to continuing with the implementation of our industry-leading trading platform, TMX Quantum XA, in our equities markets.”
Michael Ptasznik, Chief Financial Officer of TMX Group, said:
“We saw the benefit of the operating leverage in the business model, as market activity gained some momentum in the fourth quarter. With increased issuer services and information services revenue driving total revenue higher by over 9% with expenses up 3%, our income from operations grew by 21% as compared to last quarter. We also benefitted from the lower financing costs this quarter as a result of the restructuring of our long term debt at the end of Q3.”
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