CBOE Holdings' net income allocated to common stockholders was of USD48.1 million, or USD0.57 per diluted share, for the third quarter of 2014, compared with USD41.0 million, or USD0.47 per diluted share, in Q3 2013.
Operating revenue for the quarter was USD148.9 million, up nine per cent compared with USD136.7 million in the third quarter of 2013.
There were no non-GAAP adjustments for the third quarter of 2014 or 2013.
"Our strong third-quarter results reflect improved trading volume both sequentially and year-over-year across each of our product categories, as more normal levels of volatility returned to the market," says Edward T Tilly, CBOE Holdings chief executive officer. "We are pleased to start the fourth quarter with record trading volume for the month of October in VIX options and VIX futures, driven by heightened market volatility and our strategic initiatives to broaden our customer base and extend our reach globally, particularly through our extended trading hours for VIX futures."
"We are pleased to report solid third quarter results, driven by higher trading volume and prudent expense management. We continue to deliver strong cash flows, generating USD184 million in cash flow from operations over the past nine months and returning nearly USD200 million in cash to shareholders through regular dividends and share repurchases," says Alan J Dean, CBOE Holdings executive vice president and chief financial officer. "We believe the strength of our balance sheet positions us well as we maintain our focus on maximising shareholder value through prudent capital allocation, which includes both investing in our business and increasing cash returned to shareholders."
