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RTRSY » Topics » Preliminary First Quarter Results

This excerpt taken from the RTRSY 6-K filed Apr 25, 2005.

Preliminary First Quarter Results

Instinet Group Incorporated today announced preliminary results for the first quarter of 2005. Instinet Group expects to report net income of $14 million or $0.04 per diluted share for the first quarter of 2005 compared to net income of $22 million or $0.06 per diluted share for the first quarter of 2004 and net income of $9 million or $0.03 per diluted share for the fourth quarter of 2004. The first quarter 2005 results included $3 million in net investment gains, a net $1 million reversal of previously expensed severance charges and $1 million in advisory fees. The first quarter of 2004 included a $5 million investment gain and a $5 million insurance recovery. The fourth quarter of 2004 included an impairment of goodwill of $25 million related to Bridge Trading Company, severance expense of $7 million and net fixed asset expense of $1 million partially offset by a $11 million investment gain. Prior period information has been restated to incorporate Bridge Trading Company which was acquired on March 31, 2005

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