- Revenue of $139.4 million for Q3/08, up 32% over Q3/07
- Net income of $50.9 million for Q3/08, up 19% over Q3/07
- Diluted earnings per share of 66 cents for Q3/08, versus 62 cents in Q3/07
- Cash flows from operating activities in Q3/08 of $54.6 million, down 1% versus Q3/07
- Repurchased almost 2.1 million common shares at a cost of $72.4 million from August 18, 2008 to September 12, 2008
- Announced changes to equity trading fee structure, effective January 1, 2009
TMX Group Inc. (formerly TSX Group Inc.) [TSX:X] announced results for the third quarter and first nine months ended September 30, 2008.
Thomas Kloet, Chief Executive Officer of TMX Group said, “We are pleased to be able to deliver solid results for this third quarter despite a more challenging economic environment. The integration of the Montréal Exchange within TMX Group is progressing well. The many benefits of this transaction continue to be apparent in the Canadian market as well as in the United States options market through BOX.”
Michael Ptasznik, Chief Financial Officer of TMX Group said, “Once again we were able to report strong operating results from our increasingly diversified business operations. In addition to the positive impact from MX and BOX, both our energy trading and market data operations contributed to the revenue growth.”
On May 1, 2008, TMX Group and Montréal Exchange Inc. (MX) combined their businesses and, accordingly, the results of MX are included in TMX Group’s consolidated results from May 1, 2008. On August 29, 2008, MX acquired an additional 21.9% interest in the Boston Options Exchange Group, LLC (BOX) from the Boston Stock Exchange (BSE), giving MX a majority ownership interest of 53.3% in, and control of, the U.S. equity option exchange. Prior to the completion of this transaction, MX’s 31.4% investment in BOX was accounted for under the equity method under which our 31.4% of the earnings from BOX was reported as income from investment in an affiliate. Upon acquisition of control, the results of BOX have been fully consolidated into TMX Group’s consolidated results from August 29, 2008, with an adjustment made for the non-controlling interests.
Certain comparative figures have been reclassified in order to conform with the financial presentation adopted in the current year.
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