PR Newswire
NEW YORK, Aug. 9, 2017
NEW YORK, Aug. 9, 2017 /PRNewswire/ --
Second Quarter 2017 Highlights:
OTC Markets Group Inc. (OTCQX: OTCM), operator of the OTCQX® Best Market, the OTCQB® Venture Market and the Pink® Open Market for 10,000 U.S. and global securities, today announced its financial results for the second quarter 2017.
"A year after we announced that our OTCQX and OTCQB markets had received State Blue Sky recognition from five states, we have reached the half way point in achieving national State Blue Sky recognition with twenty-five states now formally recognizing our data-driven market standards," said R. Cromwell Coulson, President and Chief Executive Officer. Mr. Coulson continued, "We continue to make public markets less painful with our focus on providing mission critical technology solutions that inform investors, make trading easier for broker dealers and deliver a more efficient market for public companies."
"The second quarter of 2017 saw 9% quarter over quarter revenue growth and a 300 basis point improvement in our operating profit margin. This contributed to strong growth in our operating income, which was up 17% versus the prior year period and demonstrates the high level of operating leverage implicit in our subscription based business model. We continue to focus on generating strong operating cashflows that create long term value for our shareholders. In that context, we are pleased to announce our 35th consecutive quarterly dividend," said Bea Ordonez, Chief Financial Officer.
Second Quarter 2017 Compared to Second Quarter 2016
| | Quarter Ended June 30, | | | | | ||
(in thousands, except shares and per share data) | | 2017 | | 2016 | | % change | | $ change |
OTC Link ATS | | $ 2,497 | | $ 2,658 | | (6%) | | $ (161) |
Market data licensing | | 5,522 | | 5,237 | | 5% | | 285 |
Corporate services | | 5,750 | | 4,744 | | 21% | | 1,006 |
Gross revenues | | 13,769 | | 12,639 | | 9% | | 1,130 |
Net revenues | | 13,143 | | 12,055 | | 9% | | 1,088 |
Operating expenses | | 8,319 | | 7,936 | | 5% | | 383 |
Income from operations | | 4,824 | | 4,119 | | 17% | | 705 |
Operating profit margin | | 37% | | 34% | | | | |
Net income | | $ 3,105 | | $ 2,515 | | 23% | | $ 590 |
| | | | | | | | |
Diluted earnings per share | | $ 0.26 | | $ 0.21 | | 24% | | |
Adjusted diluted earnings per share | | $ 0.48 | | $ 0.42 | | 14% | | |
Weighted-average shares outstanding, diluted | | 11,519,683 | | 11,430,507 | | 1% | | |
Financial Highlights
Business Developments and News
Dividend Declaration – Quarterly Cash Dividend
OTC Markets Group announced today that its Board of Directors authorized a quarterly cash dividend of $0.14 on its Class A common stock. The quarterly cash dividend is payable on September 21, 2017, to stockholders of record on September 7, 2017. The ex-dividend date is September 5, 2017.
Non-GAAP Financial Measures
In addition to disclosing results prepared in accordance with GAAP, the Company also discloses certain non-GAAP results of operations, including adjusted EBITDA and adjusted diluted earnings per share that either exclude or include amounts that are described in the reconciliation table of GAAP to non-GAAP information provided at the end of this release. Non-GAAP financial measures do not replace and are not superior to the presentation of GAAP financial results, but are provided to improve overall understanding of the Company's current financial performance. Management believes that this non-GAAP information is useful to both management and investors regarding certain additional financial and business trends related to the operating results. Management uses this non-GAAP information, along with GAAP information, in evaluating its historical operating performance.
Second Quarter 2017 Conference Call
The Company will host a conference call on Thursday, August 10, 2017, at 8:00 a.m. Eastern Time, during which management will discuss the financial results in further detail. The conference call and replay of the conference call may be accessed as follows:
Dial-in numbers: 1-866-682-6100 (Domestic); 1-862-255-5401 (International);
Replay Dial-in Numbers (Available until August 24, 2017): 1-877-481-4010 (Domestic); 1-919-882-2331 (International); Replay Pin Number: 19391
The earnings release and transcript to the earnings call will also be available in the Investor Relations section of the corporate website at www.otcmarkets.com/investor-relations/overview.
OTC Markets Group's Quarterly Report for the period ended June 30, 2017 is available publicly at www.otcmarkets.com.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the OTCQX® Best Market, the OTCQB® Venture Market and the Pink® Open Market for 10,000 U.S. and global securities. Through OTC Link® ATS, we connect a diverse network of broker-dealers that provide liquidity and execution services. We enable investors to easily trade through the broker of their choice and empower companies to improve the quality of information available for investors.
To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.
OTC Link ATS is operated by OTC Link LLC, member FINRA/SIPC and SEC regulated ATS.
Subscribe to the OTC Markets RSS Feed
Investor Contact:
Bea Ordonez
Chief Financial Officer
Phone: 212-220-2215
Email: ir@otcmarkets.com
OTC MARKETS GROUP INC. | |||
CONDENSED CONSOLIDATED STATEMENTS OF INCOME | |||
(in thousands, except share and per share information) | |||
(Unaudited) | |||
| |||
| Three Months Ended June 30, | ||
| 2017 | | 2016 |
Gross revenues | $ 13,769 | | $ 12,639 |
Redistribution fees and rebates Werbung Mehr Nachrichten zur Otc Markets Group Aktie kostenlos abonnieren
E-Mail-Adresse
Bitte überprüfe deine die E-Mail-Adresse.
Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News |