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Direct Markets Holdings Corp. Announces 2nd Quarter 2012 Financial Results

Direct Markets Holdings Corp. (NASDAQ: MKTS) (“the Company”) announced financial results for the first half and second quarter ended June 30, 2012.

First Half 2012 Highlights:

  • Investment banking revenue of $25.8 million, compared to $42.2 million in the first half of 2011.
  • Revenue, excluding principal transactions, of $34.5 million, compared to $50.8 million in the first half of 2011.
  • Net loss of $7.0 million, or ($0.19) per diluted share.
  • 32 financing transactions were completed raising $1.2 billion in the first half of 2012, compared to 59 financing transactions raising $1.7 billion in the first half of 2011.

Second Quarter 2012 Highlights:

  • Investment banking revenue of $2.3 million, compared to $14.7 million and $23.5 million in the second quarter of 2011 and the first quarter of 2012, respectively.
  • Revenue, excluding principal transactions, of $9.3 million, compared to $21.1 million and $25.2 million in the second quarter of 2011 and the first quarter of 2012, respectively.
  • Net loss of $9.0 million, or ($0.25) per diluted share.
  • 10 financing transactions were completed, raising $0.1 billion in the second quarter of 2012, compared to 26 financing transactions raising $0.7 billion in the second quarter of 2011 and 22 financing transactions raising $1.1 billion in the first quarter of 2012.

BUSINESS HIGHLIGHTS

Investment Banking

Investment banking revenue was $2.3 million for the second quarter of 2012, which included $0.4 million related to warrants received as compensation for activities as underwriter or placement agent valued using Black-Scholes, compared to $14.7 million in investment banking revenue, which included $3.5 million related to warrants received, for the second quarter of 2011 and $23.5 million in investment banking revenue, which included $1.0 million related to warrants received, for the first quarter of 2012. Private placement and underwriting revenue for the second quarter of 2012 was $1.8 million, compared to $13.0 million for the second quarter of 2011 and $15.7 million for the first quarter of 2012. Strategic advisory fees for the second quarter of 2012 were $0.5 million, compared to $1.7 million for the second quarter of 2011 and $7.7 million for the first quarter of 2012.

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