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GAIN Capital Announces Results For Q2 Of 2013 - Record Net Revenue of $73 Million
GAIN Capital Announces Results For Q2 Of 2013 - Record Net Revenue of $73 Million
Wednesday,07/08/2013|21:01GMTby
Andrew Saks McLeod
In line with the general dynamic within the retail FX industry segment this year, GAIN Capital's metrics for the second quarter of 2013, announced today, demonstrate a significant increase over last year.
GAIN Capital has today released its corporate results for the second quarter of 2013, having completed the fiscal period with a net income of $17.2 million, which equates to $0.44 per diluted share.
This particular transaction is still in process, and as the second quarter of this year concluded, GAIN Capital's CEO Glenn Stevens made a corporate statement regarding its current position: "As previously announced, closing of the GFT transaction is subject to customary conditions, not all of which have been satisfied. We are continuing to work through issues that must be resolved in order to close," said Mr. Stevens.
The company has confirmed that it can offer no update at this time regarding the timing, and changes to the terms, if any, of the transaction.
Metrics For First Half Of 2013
(Comparisons below are referenced to first half of 2012)
•Net revenue of $122.8 million, compared with $78.9 million
•Net income of $21.4 million, or $0.56 per diluted share, compared with $3.2 million, or $0.08 per diluted share
•EBITDA and EBITDA margin of $34.4 million and 28.0%, respectively, compared with $10.1 million and 12.7%
•Retail OTC trading volume of $894.0 billion, up 23.2% from $725.9 billion
•Institutional trading volume of $2.0 trillion, up 114.8% from $910.5 billion
•Futures DARTs of 13,814
Metrics For Second Quarter Of 2013
(Comparisons below are referenced to second quarter 2012)
•Record net revenue of $73.0 million, compared with $45.7 million
•Net income of $17.2 million, or $0.44 per diluted share, compared with $4.4 million, or $0.11 per diluted share
•EBITDA and EBTIDA margin of $26.9 million and 36.8%, respectively, compared with $8.9 million and 19.4%
•Retail OTC trading volume of $462.1 billion, up 35.6% from $340.8 billion
•Institutional trading volume of $1.1 trillion, up 140.9% from $442.5 billion
•Futures Daily Average Revenue Trades (DARTs) of 14,382
•Total retail client assets of $476.8 million, compared with $320.2 million
Retail OTC Trading Business
In the second quarter of 2013, GAIN's retail OTC trading business generated revenue of $57.5 million, compared with $40.8 million in the second quarter of 2012. Total trading volume was $462.1 billion, compared with $340.8 billion a year earlier. Active accounts at the end of the second quarter 2013 totaled 64,144, compared with 61,746 a year earlier.
GTX revenue was $7.8 million in the second quarter, compared with $4.3 million a year earlier. The futures business, which was acquired in the third quarter of 2012, posted revenue of $6.4 million in the second quarter of 2013.
GTX volume in the second quarter was $1.1 trillion, compared with $442.5 billion a year earlier. Futures (DARTs) were 14,382 in the second quarter of 2013.
Declaration of Quarterly Dividend
The Company also declared a $0.05 per share quarterly cash dividend, payable on September 20, 2013 to all holders of common stock as of September 12, 2013.
GAIN Capital has today released its corporate results for the second quarter of 2013, having completed the fiscal period with a net income of $17.2 million, which equates to $0.44 per diluted share.
This particular transaction is still in process, and as the second quarter of this year concluded, GAIN Capital's CEO Glenn Stevens made a corporate statement regarding its current position: "As previously announced, closing of the GFT transaction is subject to customary conditions, not all of which have been satisfied. We are continuing to work through issues that must be resolved in order to close," said Mr. Stevens.
The company has confirmed that it can offer no update at this time regarding the timing, and changes to the terms, if any, of the transaction.
Metrics For First Half Of 2013
(Comparisons below are referenced to first half of 2012)
•Net revenue of $122.8 million, compared with $78.9 million
•Net income of $21.4 million, or $0.56 per diluted share, compared with $3.2 million, or $0.08 per diluted share
•EBITDA and EBITDA margin of $34.4 million and 28.0%, respectively, compared with $10.1 million and 12.7%
•Retail OTC trading volume of $894.0 billion, up 23.2% from $725.9 billion
•Institutional trading volume of $2.0 trillion, up 114.8% from $910.5 billion
•Futures DARTs of 13,814
Metrics For Second Quarter Of 2013
(Comparisons below are referenced to second quarter 2012)
•Record net revenue of $73.0 million, compared with $45.7 million
•Net income of $17.2 million, or $0.44 per diluted share, compared with $4.4 million, or $0.11 per diluted share
•EBITDA and EBTIDA margin of $26.9 million and 36.8%, respectively, compared with $8.9 million and 19.4%
•Retail OTC trading volume of $462.1 billion, up 35.6% from $340.8 billion
•Institutional trading volume of $1.1 trillion, up 140.9% from $442.5 billion
•Futures Daily Average Revenue Trades (DARTs) of 14,382
•Total retail client assets of $476.8 million, compared with $320.2 million
Retail OTC Trading Business
In the second quarter of 2013, GAIN's retail OTC trading business generated revenue of $57.5 million, compared with $40.8 million in the second quarter of 2012. Total trading volume was $462.1 billion, compared with $340.8 billion a year earlier. Active accounts at the end of the second quarter 2013 totaled 64,144, compared with 61,746 a year earlier.
GTX revenue was $7.8 million in the second quarter, compared with $4.3 million a year earlier. The futures business, which was acquired in the third quarter of 2012, posted revenue of $6.4 million in the second quarter of 2013.
GTX volume in the second quarter was $1.1 trillion, compared with $442.5 billion a year earlier. Futures (DARTs) were 14,382 in the second quarter of 2013.
Declaration of Quarterly Dividend
The Company also declared a $0.05 per share quarterly cash dividend, payable on September 20, 2013 to all holders of common stock as of September 12, 2013.
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Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
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#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
