LeapRate's Daily Forex Industry Newsletter
Join now to receive first access to our EXCLUSIVE reports and updates.
Screenshot of a breaking news alert e-mail from Q2 2017
While the big news is Gain Capital’s acquisition of City Index, the brokerage also announced preliminary results today for the third quarter ended September 30, 2014. The results were pretty good and this is not surprising considering the company’s record volume metrics from September. The numbers were particularly good for the retail segment which notched all time record volumes. Share prices from the end of October 2013 to end of October 2014 are off 40% as you can see in the chart below. However, with a positive third quarter preliminary report, investors may be eager to buy but many remain cautious of recent sagging market volatility.
Q3 2014 preliminary overview:
Net revenues for the third quarter ended September 30, 2014 were a record $102.8 million, an increase of 69% from $60.8 million from a year earlier.
Adjusted EBITDA for the period was $26.6 million, an increase of 120% from $12.1 million from a year earlier.
Net income was $14.7 million, or $0.32 per diluted share, up 163% from $5.6 million, or $0.14 per diluted share a year earlier.
Cash earnings per share, which reflect earnings per share less the impact of depreciation and amortization, purchased intangible amortization and non-cash interest was $0.40 per diluted share, an increase of 124% from a year earlier.
GAIN will review its full third quarter results on Thursday November 6, 2014 during a conference call scheduled for 8:00 a.m. Stay tuned to LeapRate…