FXCM and Gain Capital file end of year 2010 reports

by Michael Greenberg
FXCM and Gain Capital file end of year 2010 reports

Most of the data is already known as we saw a preview of these results published by brokers themselves, so there's probably not much new found there, but now you can see them in full.

As a reminder:

FXCM reported:

  • Full year revenues of $360.3 million, up 12% compared to 2009
  • Adjusted Pro Forma EBITDA of $120.5 million, up 16% compared to 2009
  • Adjusted Pro Forma net income of $69.6 million or $0.92 per fully diluted share, up 13% compared to 2009
  • Entered into a Memorandum of Understanding to acquire the retail FX business of GCI Capital of Japan. FXCM has since completed the deal.
  • Declaring a quarterly dividend of $0.06 per share of Class A common stock

For the year ended December 31, 2010, revenues increased $37.6 million or 12% to $360.3 million, compared to $322.7 million for the corresponding prior year. Adjusted Pro Forma EBITDA for the year was $120.5 million, an increase of $16.9 million or 16%, compared to $103.6 million, for the prior year. Adjusted Pro Forma Net Income was $69.6 million, or $0.92 on a fully exchanged, fully diluted basis, compared to $61.4 million, or $0.82 per share, for the corresponding prior year, an increase of 13%.

FXCM's full 2010 end of year report filing to the SEC can be found here.

Gain reported:

  • Record Net Revenue of $189.1 million; growth of 23.4% compared to 2009
  • Net Income of $37.8 million (Diluted EPS of $1.00); net income growth of 35.0% compared to 2009
  • Adjusted Net Income(1) of $33.9 million; growth of 28.9% compared to 2009
  • Record Client Assets(2) of $256.7 million at December 31, 2010; growth of 28.4% compared to 2009

“2010 was a pivotal year for GAIN. We grew our business organically and also initiated our market consolidation strategy with the acquisitions of the retail Forex businesses of MG Financial and CMS Forex. We expanded our global footprint, opening offices in Hong Kong, Singapore and Sydney, and increased our product offering with the addition of new currency pairs, as well as equity index CFDs (contracts for difference) outside of the United States. We also launched GAIN GTX, our new ECN for institutional clients. In addition to our operational and strategic accomplishments, we reached a corporate milestone with our initial public offering and listing on the New York Stock Exchange in December 2010. We look forward to the opportunities ahead as we operate in the public markets,” said Glenn Stevens, chief executive officer.

Gain Capital's full 2010 end of year report filing to the SEC can be found here.

Most of the data is already known as we saw a preview of these results published by brokers themselves, so there's probably not much new found there, but now you can see them in full.

As a reminder:

FXCM reported:

  • Full year revenues of $360.3 million, up 12% compared to 2009
  • Adjusted Pro Forma EBITDA of $120.5 million, up 16% compared to 2009
  • Adjusted Pro Forma net income of $69.6 million or $0.92 per fully diluted share, up 13% compared to 2009
  • Entered into a Memorandum of Understanding to acquire the retail FX business of GCI Capital of Japan. FXCM has since completed the deal.
  • Declaring a quarterly dividend of $0.06 per share of Class A common stock

For the year ended December 31, 2010, revenues increased $37.6 million or 12% to $360.3 million, compared to $322.7 million for the corresponding prior year. Adjusted Pro Forma EBITDA for the year was $120.5 million, an increase of $16.9 million or 16%, compared to $103.6 million, for the prior year. Adjusted Pro Forma Net Income was $69.6 million, or $0.92 on a fully exchanged, fully diluted basis, compared to $61.4 million, or $0.82 per share, for the corresponding prior year, an increase of 13%.

FXCM's full 2010 end of year report filing to the SEC can be found here.

Gain reported:

  • Record Net Revenue of $189.1 million; growth of 23.4% compared to 2009
  • Net Income of $37.8 million (Diluted EPS of $1.00); net income growth of 35.0% compared to 2009
  • Adjusted Net Income(1) of $33.9 million; growth of 28.9% compared to 2009
  • Record Client Assets(2) of $256.7 million at December 31, 2010; growth of 28.4% compared to 2009

“2010 was a pivotal year for GAIN. We grew our business organically and also initiated our market consolidation strategy with the acquisitions of the retail Forex businesses of MG Financial and CMS Forex. We expanded our global footprint, opening offices in Hong Kong, Singapore and Sydney, and increased our product offering with the addition of new currency pairs, as well as equity index CFDs (contracts for difference) outside of the United States. We also launched GAIN GTX, our new ECN for institutional clients. In addition to our operational and strategic accomplishments, we reached a corporate milestone with our initial public offering and listing on the New York Stock Exchange in December 2010. We look forward to the opportunities ahead as we operate in the public markets,” said Glenn Stevens, chief executive officer.

Gain Capital's full 2010 end of year report filing to the SEC can be found here.

About the Author: Michael Greenberg
Michael Greenberg
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About the Author: Michael Greenberg
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