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FXCM Inc. Announces Fourth Quarter 2012 And Full Year 2012 Results

FXCM Inc. (NYSE: FXCM), a leading online provider of foreign exchange, or FX, trading and related services, today announced revenues for the quarter ended December 31, 2012 of $108.1 million, compared to $108.7 million for the quarter ended December 31, 2011, a decrease of 1%. U.S. GAAP net income was $3.0 million or $0.11 per fully diluted Class A share for the fourth quarter 2012, compared to $3.2 million or $0.21 per fully diluted Class A share for the fourth quarter 2011, a decrease of 7% and 48%, respectively. This decrease is primarily due to $1.8 million or $0.12 per fully diluted share in deferred tax benefits recognized by FXCM’s Japanese subsidiary in the fourth quarter 2011 U.S. GAAP results.

Under U.S. GAAP, revenues for the year ended December 31, 2012 increased 0.4% to $417.3 million, compared to $415.6 million for the corresponding period in 2011. U.S. GAAP net income for the year ended December 31, 2012 was $9.0 million, or $0.37 cents per fully diluted Class A share versus $12.7 million or $0.77 cents per fully diluted Class A share, a decrease of 30% and 52% respectively.

Adjusted Pro Forma EBITDA for the fourth quarter 2012 was $29.8 million, compared to $26.4 million for the fourth quarter 2011, an increase of 13%. Adjusted Pro Forma Net Income was $9.7 million or $0.13 per fully exchanged, fully diluted share for the fourth quarter 2012, compared to $20.7 million or $0.28 per fully exchanged, fully diluted share for the fourth quarter 2011, a decrease of 53% and 54%, respectively. This decrease is primarily due to $8.2 million or $0.11 per fully exchanged, fully diluted share in deferred tax benefits recognized by FXCM’s Japanese subsidiary in the fourth quarter 2011 adjusted Pro Forma results.

Adjusted Pro Forma EBITDA for the year ended December 31, 2012 was $112.9 million, compared to $111.9 million, for the corresponding period in 2011, an increase of 1%. Adjusted Pro Forma Net Income for the year ended December 31, 2012 was $42.6 million, or $0.58 per share on a fully exchanged, fully diluted basis, compared to $67.2 million, or $0.90 per share on a fully exchanged, fully diluted basis, for the corresponding period in 2011, a decrease of 37% and 36% respectively.

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