NYSE Euronext (NYX) has reported net income of USD135 million, or USD0.51 per diluted share for the fourth quarter of 2010, compared to net income of USD172 million, or USD0.66 per diluted share for the fourth quarter of 2009.
Results for the fourth quarter of 2010 and fourth quarter of 2009 include USD18 million and USD43 million, respectively, of pre-tax merger expenses and exit costs as well as the impact of the requisite reversal of discrete tax reserves. Excluding the impact of these items, net income in the fourth quarter of 2010 was USD120 million, or USD0.46 per diluted share, compared to USD151 million, or USD0.58 per diluted share, in the fourth quarter of 2009.
“2010 was a year of significant progress for NYSE Euronext in executing on our key strategic priorities and accelerating the transformation of our business,” says Duncan L Niederauer (pictured), CEO, NYSE Euronext. “We made significant investments in key business areas such as our new data centers, New York Portfolio Clearing and our Universal Trading Platform, and in 2011 our focus will be on leveraging these investments to continue to drive success for our customers and shareholders.”
Michael S Geltzeiler, Group Executive Vice President and CFO, NYSE Euronext adds: “Despite a challenging trading volume environment in the second half of 2010, we recorded record volumes in our derivatives business for full-year 2010, we stabilised our core cash markets, our listings business showed renewed strength, our technology business is primed for growth in 2011 and we continued to focus on reducing our fixed expense base. For the full-year 2010, fixed expenses were below the low-end of our full-year guidance range and included significant investments in new business initiatives which generated incremental revenue of approximately USD150 million. On a constant dollar, constant portfolio basis, our fixed expenses were down USD113 million, or 7% compared to full-year 2009.”
