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NYSE Euronext Q1 Net Income Up

NYSE Euronext has reported a net income of $130m, or $0.50 per diluted share, for the first quarter of 2010, compared to $104m, or $0.40 per diluted share, for the first quarter of 2009.

Results for the first quarter of 2010 and 2009 include $13m and $23m, respectively, of pre-tax merger expenses and exit costs. Excluding the impact of these items, net income in the first quarter of 2010 was $140m, or $0.54 per diluted share, compared to $112m, or $0.43 per diluted share in the first quarter of 2009.

Total revenue less transaction-based expenses (net revenue), which include Section 31 fees, liquidity payments and routing and clearing fees, were $645m in the first quarter of 2010, up 7% compared to $605m in the first quarter of 2009.

Adjusted EBITDA, which excludes depreciation and amortization of property and equipment, amortization of intangible assets and merger expenses and exit costs, was $284m, compared to $251m in the first quarter of 2009. Adjusted EBITDA margin was 44% in the first quarter of 2010, compared to 41% in the first quarter of 2009.

Duncan Niederauer, CEO of NYSE Euronext, said: “Our solid first quarter results were driven by strong growth from our derivatives businesses and the first full-quarter’s impact of the NYFIX acquisition. We will look to build on this growth with the anticipated regulatory approval and planned third quarter 2010 launch of New York Portfolio Clearing, coinciding with the launch of interest rate futures contracts on NYSE Liffe US and with the go-live of our new data centers in the second-half of the year, which will drive new revenue for our NYSE Technologies business.”