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- Revenues of $85.0 million up 14% over second quarter of 2004
- Net income increase of 35% compared with Q2, 2004
- Diluted earnings per common share of 49 cents versus 36 cents in Q2, 2004
- Announces revisions to Toronto Stock Exchange trading fees
Note: All references to earnings per common share, net income per common share, dividends per common share, common shares issued and outstanding, common shares reserved for issuance and options outstanding have been restated to reflect the impact of the two-for-one stock split which was effective May 17, 2005.
Revenues were $85.0 million for the second quarter of 2005, up 14% as compared to $74.4 million for the same period in 2004, reflecting increased revenue in the primary revenue streams, listing, trading and market data. Net income was $33.5 million, or 49 cents per common share (on a basic and diluted basis) for the second quarter of 2005, representing an increase of 35% over $24.9 million, or 37 cents per common share (36 cents on a diluted basis), for the second quarter of 2004, largely attributable to higher revenue and investment income, slightly offset by an increase in expenses.
Richard Nesbitt, Chief Executive Officer of TSX Group Inc. said “We are very pleased with the strong results for the second quarter. We continued to experience robust activity in the capital and energy markets. This was reflected in increased new equity financing activity on both Toronto Stock Exchange and TSX Venture Exchange, significantly higher value traded and transactions on both of our equity markets, higher market data subscriptions and increased volumes in energy contracts traded.”
Commenting specifically on TSX Group’s financial results, Michael Ptasznik, Chief Financial Officer, said “During the quarter, we continued to benefit from realizing operational efficiencies across the organization. As we move forward, our plan is to redirect some of these savings by making technology investments and sharing these benefits with our customers by reducing the cost of access and executing trades on our equity exchanges. We believe this will allow us to continue to grow our business by remaining a competitive service provider with state of the art trading technology.”
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