CBOE Holdings has reported its best fourth quarter results ever, as well as record revenue and earnings for the full-year 2013, marking the third consecutive year of record financial results.
For the quarter, the company reported GAAP net income allocated to common stockholders of USD45.6m, or USD0.52 per diluted share, compared with USD39.2m, or USD0.45 per diluted share, in the fourth quarter of 2012.
On an adjusted basis, net income allocated to common stockholders was USD45.6m, or USD0.52 per diluted share, compared with USD38.9m, or USD0.45 per diluted share, in the prior year period.
Operating revenue for the fourth quarter was USD141.8m, up nine per cent compared to USD130.1m in 2012's fourth quarter.
For the year ended 31 December 2013, GAAP net income allocated to common stockholders rose 12 per cent to USD173.9m, or USD1.99 per diluted share, on total operating revenue of USD572.1m. For the comparable period in 2012, the company reported GAAP net income allocated to common stockholders of USD155.3m, or USD1.78 per diluted share, on operating revenue of USD512.3m. On an adjusted basis, net income allocated to common stockholders increased 20 per cent to USD177.4m from USD147.5m in 2012, and adjusted diluted earnings per share grew 20 per cent to USD2.03 from USD1.69 in 2012.
"We are pleased to report a strong finish to 2013, which marked our third consecutive year of record revenue and earnings. Our record performance illustrates the strength of our proprietary products and our successful efforts to expand CBOE's global customer base. As we begin 2014, we are particularly excited about our new product pipeline, starting with the launch of futures on the CBOE Short-Term Volatility Index later this month. We will continue to build on our success in shaping the options and volatility space, with an ongoing focus on delivering value to stockholders and our customers," says Edward T Tilly, CBOE Holdings chief executive officer.