TMX Group Ltd. (X.TO) reported that its first-quarter income from operations declined to C$60.2 million from C$79.2 million in the prior year quarter.
Net income attributable to TMX Group shareholders was C$37.8 million, compared to a loss of C$4.4 million in the prior year. Earnings per share were C$0.70 in the latest-quarter, compared to a loss of C$10.82 per share last year.
The company reported first-quarter of 2013 adjusted earnings per share of C$0.78, excluding 3 cents per share of Maple transaction and integration costs, 16 cents per share of amortization of intangible assets related to acquisitions, and 11 cents per share related to reduction in income tax expense due to recognition of deferred income tax asset.
Revenue for the quarter was C$172.2 million, up C$9.9 million, or 6% compared with C$162.3 million the year ago quarter due to the inclusion of C$22.2 million of revenue from CDS and C$4.8 million of revenue from Alpha. The increase was partially offset by lower revenue from issuer services, cash markets trading and BOX.
TMX Group completed the acquisition of TMX Group Inc. on September 14, 2012 and the acquisitions of The Canadian Depository for Securities Limited or CDS and Alpha Trading Systems Inc. and Alpha Trading Systems Limited Partnership on August 1, 2012. The TMX Group condensed consolidated interim financial statements included the operating results of TMX Group Inc., CDS and Alpha. Comparative financial statements for, and as at, the quarter ended March 31, 2012 include TMX Group Limited only.
TMX Group Limited said its board declared a dividend of C$0.40 on each common share outstanding, payable on June 7, 2013 to shareholders of record at the close of business on May 24, 2013.
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