CBOE Holdings reports all-time record quarterly results for Q2 2013
CBOE Holdings has reported second quarter 2013 net income allocated to common stockholders of USD45.5m, or USD0.52 per diluted share, compared with USD37.9m, or USD0.44 per diluted share, in the second quarter of 2012.
On an adjusted basis, net income allocated to common stockholders was USD47.0m, or USD0.54 per share, compared with USD37.9m, or USD0.44 per diluted share, in the same period last year.
Operating revenues of USD150.8m for the second quarter increased 14 per cent compared with USD132.6m in the second quarter of 2012.
"We are pleased to report another strong quarter at CBOE Holdings, with new all-time highs for operating revenue and earnings per share. Our strong results were driven by increased trading overall and our successful efforts to expand trading in our higher-margin proprietary products. Trading volume in VIX Index futures, which carry our highest fee per contract, reached a new quarterly record for the sixth consecutive quarter, while trading in VIX options and our S&P 500 options complex also continued to show strong growth," says Edward T Tilly (pictured), CBOE Holdings chief executive. "We will remain focused on product development, extending our global customer reach and maintaining prudent fiscal management to deliver value to stockholders."
"Strong growth in revenue and earnings this year, combined with our solid balance sheet and strong cash flow, gives us the flexibility to invest in growth initiatives while returning value to stockholders," says Alan J Dean, CBOE Holdings executive vice president and chief financial officer. "Our board's recent move to increase our quarterly dividend by 20 per cent demonstrates our focus on the prudent management of our cash flow and our commitment to return excess capital to our stockholders."
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