This excerpt taken from the NDAQ 8-K filed Oct 26, 2005.
- Net Income Increases for Fourth Consecutive Quarter -
New York, N.Y.The NASDAQ Stock Market, Inc. (NASDAQ®; Nasdaq: NDAQ), today reported net income of $17.8 million, or $0.16 per diluted share, for the third quarter 2005, an increase of $23.3 million when compared to a net loss of $5.5 million, or $(0.08) per diluted share, for the third quarter 2004. Net income for the quarter increased 27.1%, or $3.8 million from net income of $14.0 million, or $0.13 per diluted share, for the second quarter of 2005.
Gross margin, which represents total revenues less cost of revenues, was $130.6 million for the third quarter 2005, an increase of 13.8% from $114.8 million in the year-ago period, and up slightly from $130.4 million in the second quarter 2005.
NASDAQs Chief Executive Officer, Robert Greifeld, commented, NASDAQs third quarter results represent our fourth consecutive quarter of net income growth. This quarter we continued to demonstrate our ability to innovate through the introduction of new products and services, and remain committed to product enhancements that differentiate NASDAQ from the competition. With the organization focused, offering an array of innovative products, and continuing to improve our operating leverage, we believe that NASDAQ is well-positioned to succeed in a changing competitive landscape.