CBOE Holdings has reported third quarter 2013 net income allocated to common stockholders of USD41.0m, or USD0.47 per diluted share, compared with USD45.2m, or USD0.52 per diluted share, in Q3 2012.
On an adjusted basis, net income allocated to common stockholders was USD41.0m, or USD0.47 per diluted share, compared with USD37.7m, or USD0.43 per diluted share, in the same period last year. Operating revenue for the quarter was USD136.7m, up seven per cent compared with USD128.3m in the third quarter of 2012.
Financial results presented on an adjusted basis for the third quarter of 2012 exclude the recognition of a tax benefit relating to prior years of USD7.7m, or USD0.09 per diluted share.
"CBOE Holdings delivered a strong third quarter, primarily driven by trading volume increases in our SPX options complex and VIX Index options and futures. CBOE's average daily options volume for the quarter rose five percent over a year ago despite flat trading volume for the US options industry as a whole," says Edward T Tilly, CBOE Holdings chief executive officer. "We continue to see exciting growth opportunities for our company as we add new services and products that create value for both our customers and stockholders, such as our recently announced plans to launch options and futures on the new CBOE Short-term Volatility Index (VXST)."
"Our solid financial results this quarter reflect our operational discipline and focus on investing for future growth," says Alan J Dean, CBOE Holdings executive vice president and chief financial officer. "Year-to-date, we have returned over USD62m to stockholders through dividends and share repurchases. Our ability to return capital to our stockholders reflects the confidence we have in our business, its opportunities for growth and its ability to generate meaningful free cash flow."