NDAQ » Topics » - Matched Market Share Reaches Record Levels -

This excerpt taken from the NDAQ 8-K filed Oct 24, 2007.

- Matched Market Share Reaches Record Levels -

New York, N.Y.—The Nasdaq Stock Market, Inc. (“NASDAQ®”; NASDAQ: NDAQ), today reported third quarter 2007 net income of $365.0 million, or $2.41 per diluted share, an increase of $334.8 million from $30.2 million, or $0.22 per diluted share, in the third quarter of 2006, and an increase of $308.9 million from $56.1 million, or $0.39 per diluted share, in the second quarter of 2007.

Included in third quarter results are pre-tax gains of $431.4 million associated with NASDAQ’s sale of its share capital of the London Stock Exchange Group plc, and $35.2 million related to gains on foreign currency option contracts. Also included in third quarter 2007 results are the following pre-tax charges:

 

   

$19.5 million associated with tax benefits shared with strategic investors,

 

   

$5.8 million related to the early extinguishment of debt, and

 

   

$1.1 million in workforce reduction expenses.

When excluding these items, net income on a non-GAAP basis was $62.1 million, or $0.42 per diluted share.

Revenues less liquidity rebates, brokerage, clearance and exchange fees (“net exchange revenues”) were $210.0 million in the third quarter of 2007, an increase of 22.7% from $171.2 million in the year-ago period, and up 5.7% from $198.7 million reported in the second quarter of 2007.

“We are pleased to have once again reported record operating results, built largely on the success of new highs in trading volume and market share,” commented Bob Greifeld, NASDAQ’s President and Chief Executive Officer. “Our growth and liquidity has firmly established NASDAQ as the leader in the U.S. equities marketplace, driven largely by the pace at which we introduce new products and services designed to meet the needs of our customers. We know firsthand that working closely with customers to develop innovative products distinguishes NASDAQ from the competition and is a key driver behind our strong financial performance.”

This excerpt taken from the NDAQ 8-K filed Jul 19, 2007.

- Matched Market Share Reaches Record Levels -

New York, N.Y.—The Nasdaq Stock Market, Inc. (“NASDAQ®”; Nasdaq: NDAQ), today reported second quarter 2007 net income of $56.1 million, or $0.39 per diluted share, an increase of $39.5 million from $16.6 million, or $0.13 per diluted share, in the second quarter of 2006, and an increase of $37.8 million from $18.3 million, or $0.14 per diluted share, in the first quarter 2007.

Operating income was $99.0 million for the second quarter of 2007, an increase of $62.7 million when compared to $36.3 million for the second quarter of 2006, and up $17.6 million, or 21.6% from $81.4 million reported in the first quarter of 2007.

Revenues, less liquidity rebates, brokerage, clearance and exchange fees (“net exchange revenues”) were $198.7 million in the second quarter of 2007, an increase of 16.1% from $171.1 million in the year-ago period, and up 3.4% from $192.1 million reported in the first quarter of 2007.

“In the second quarter of 2007 NASDAQ’s core business operated on all cylinders, reaching record operating earnings on the back of new product innovation and customer service initiatives. In addition, we are pleased with the pace of our integration planning efforts with our prospective merger partner OMX and are confident that together we will create the strongest global marketplace and technology platform,” commented Bob Greifeld, President and Chief Executive Officer of NASDAQ. “Our ability to capture market share has grown NASDAQ into the largest single pool of liquidity for trading cash equities, creating a robust platform for growth. To that end, we believe our business is poised to deliver strong results over the second half of the year through continued product innovation and diversification.”

EXCERPTS ON THIS PAGE:

8-K
Oct 24, 2007
8-K
Jul 19, 2007

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