FX is one of the bright spots growing by 13% throughout 2013
New-York based and NASDAQ listed brokerage and risk management advisor INTL FCStone (NASDAQ:INTL) has reported its financial results for the first quarter of 2014 that ended on December 31. Operating revenues were lower than a year ago by 10% coming out at $113.4 million while net adjusted earnings totaled $1.2 million. The biggest hit has come from the company’s commodities division and risk management services that shed 7%.
Meanwhile foreign exchange services have contributed to counterbalance some lost revenue adding $18.3 million, which is up by 13% over last year’s number. INTL FCStone’s securities division has also grown impressively by 36% to $17.6 million. The company’s share prices have closed at $17.24 just before we hear the earnings call scheduled for 9AM ET.
INTL FCStone’s net income has dropped a bit more than 80% over the past year, however our readers should keep in mind some special factors. The company has sold its shares in the London Metals Exchange and the Kansas City Board of Trade that totaled $9.2 million.
For the full press release visit INTL FCStone’s website.