Total expenses for the first quarter of 2012 increased 7.9% to $28.0 million, compared to $25.9 million for the first quarter of 2011. This increase was primarily due to higher general and administrative expense of $1.1 million, marketing and advertising costs of $0.5 million and technology and communications costs of $0.5 million, offset by lower employee compensation and benefits of $0.4 million.The effective tax rate for the first quarter of 2012 was 40.7%, compared to 39.0% for the first quarter of 2011.
MarketAxess Reports First Quarter 2012 Record Revenues Of $50.7 Million, Record Pre-Tax Income Of $22.7 Million And Diluted EPS Of $0.35
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