GAIN Capital 2015 income restatement done without much impact to top or bottom line

As was reported on LeapRate back in April, retail forex broker and operator Gain Capital Holdings Inc (NYSE:GCAP) issued a notice that its just-released 10-K report and annual financial statements for 2015 should no longer be relied upon, due to errors in the manner in which the Company accounted for income taxes, as well as accounting for intercompany transactions between U.S. and non-U.S. affiliates of Gain Capital.

Gain did disclose at the time that it does not expect that the restated results will be materially different from the results it already announced.

Today Gain re-released each of its quarterly reports for 2015, as well as its updated 2015 full year results and 10-K. As expected, the results were essentially the same. Although there was some movement of activity between quarters, Gain Capital’s 2015 main results – Revenues of $435.3 million, and Net Profit of $11.9 million – were identical to what was previously reported.

To access all of Gain Capital’s restated results:

Q1 2015 report – click here

Q2 2015 report – click here

Q3 2015 report – click here

10-K (full year) 2015 report – click here

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