Today's remarks may contain forward-looking statements. These statements represent our current judgment and are subject to risks, assumptions and uncertainties. We undertake no obligation to update forward-looking statements. For a description of the risks that could cause results to differ materially from those described in forward-looking statements, please refer to our Form 10-K, which is filed with the SEC today.
The results presented today include our adjusted operating results. We believe that these are more reflective of our business performance. A non-GAAP reconciliation is included in the earnings materials. We explain why this information is meaningful and how management uses these measures.
With us on the call today are Jeff Sprecher, Chairman and CEO; Scott Hill, Chief Financial Officer; and Chuck Vice, President and Chief Operating Officer.
I'll now turn the call over to Scott.Scott A. HillThanks, Kelly. Good morning, everyone, and thank you for joining us today. We had a good end to another record year in 2011 and we're off to a very solid start in 2012, including January revenues that were up more than 10% over the prior year. I'll begin this morning on Slide 4 by reviewing our full year 2011 results. ICE grew consolidated revenues 15% to a record $1.3 billion, our eighth consecutive year of revenue growth at/or above 15%. Each segment contributed to our performance with ICE's future and OTC revenues increasing by 20% and 10%, respectively. Strong top line, coupled with disciplined expense management, delivered expanding operating margins and a 25% increase in adjusted earnings per share. These financial metrics distinguish ICE from our peers. Our operational achievements were equally strong. In order to continue to drive long-term growth, we expanded our post-trade footprint, we made strategic investments in Brazil and we added hundreds of new products for clearing, including sovereign CDS.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV