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FXCM Inc. Announces Third Quarter 2013 Results

Stocks in this article: FXCM

FXCM Inc. (NYSE: FXCM), a leading online provider of foreign exchange, or FX, trading and related services, today announced for the quarter ended September 30, 2013, revenues of $113.2 million, compared to $114.9 million for the quarter ended September 30, 2012, a decrease of 1%.

Adjusted Pro Forma EBITDA for the Third Quarter 2013 was $33.0 million, compared to $37.2 million for the Third Quarter 2012, a decrease of 11%. Adjusted Pro Forma Net Income was $9.7 million or $0.13 per share for the Third Quarter 2013, compared to $12.5 million or $0.17 per fully diluted, fully exchanged share for the Third Quarter 2012, a decrease of 22% and 24% respectively.

U.S. GAAP net loss attributable to FXCM Inc. was $5.1 million for the Third Quarter 2013 or ($0.15) per diluted FXCM Inc. Class A share, compared to net income of $4.5 million or $0.17 per diluted FXCM Inc. Class A share for the Third Quarter 2012. Third Quarter 2013 results include a $15.0 million reserve established for certain regulatory matters.

For the nine months ended September 30, 2013, revenues were $376.2 million, compared to $309.2 million for the nine months ended September 30, 2012, an increase of 22%.

Adjusted Pro Forma EBITDA for the nine months ended September 30, 2013 was $131.2 million, compared to $83.1 million for the nine months ended September 30, 2012, an increase of 58%. Adjusted Pro Forma Net Income was $50.5 million or $0.66 per fully diluted, fully exchanged share for the nine months ended September 30, 2013, compared to $32.9 million or $0.45 per fully diluted, fully exchanged share for the nine months ended September 30, 2012, an increase of 53% and 47%, respectively.

U.S. GAAP net income attributable to FXCM Inc. was $11.9 million for the nine months ended September 30, 2013 or $0.37 per diluted FXCM Inc. Class A share, compared to $6.0 million or $0.27 per diluted FXCM Inc. Class A share for the nine months ended September 30, 2012, an increase of 98%% and 37% respectively.

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