Business
Montreal Exchange reports second quarter 2007 results
Montreal Exchange reports second quarter 2007 results.
About this update from Stampede Drilling Inc.
[{"type":"text","content":"\n\n\n\n MX Announces Special Dividend of $0.35 per Share\n and Launch of Carbon Trading\n\nFinancial Highlights (Q2 2007 vs. Q2 2006)\n- Revenues increased 3% to $21.4 million\n- Operating margin of 40% up from 36%\n- Net earnings increased 7% to $6.9 million\n- Diluted earnings per share of $0.22 compared to $0.24 per share\n- Average daily volume of 176,560 contracts, up 1.6%\n- Strong financial position - $131 million in cash\n\nNOTE TO EDITORS: ALL REFERENCES TO EARNINGS PER SHARE AND DIVIDENDS PER\nSHARE HAVE BEEN RESTATED TO REFLECT THE THREE-FOR-ONE STOCK SPLIT THAT MX\nEFFECTED ON MARCH 15, 2007. ALL DOLLAR AMOUNTS IN THIS PRESS RELEASE ARE\nSTATED IN CANADIAN DOLLARS.\n\n\nMONTREAL, July 25 /CNW Telbec/ - Montreal Exchange Inc. (MX) (TSX: MXX)\nannounced today its financial results for the second quarter ended June 30,\n2007, including a 7% increase in net earnings to $6.9 million from the same\nperiod of 2006.\n\n\nRevenues for the second quarter 2007 amounted to $21.4 million,\nrepresenting an increase of 3% compared to $20.7 million in the same period of\n2006. This was due principally to a 1.6% increase in trading volumes in the\nquarter. For the six month period ended June 30, 2007, revenues grew 9% to\n$43.3 million, mainly because of a 13% increase in trading volumes from the\nsame period of 2006.\n\n\n"MX trading activity grew at a modest pace in the second quarter\nprimarily because of the stable short-term interest rate environment," said\nLuc Bertrand, President and Chief Executive Officer of the Montreal Exchange.\n"Trading in our short-term interest rate futures contract, the BAX, declined\nin the quarter and grew at a below average rate in the first half, largely due\nto monetary policy trends and a slowdown in market moving economic events. The\nquarterly decrease in BAX trading was partly offset by double-digit increases\nin volumes of our long-term interest rate futures contract, the CGB, as well\nas in MX's equity index futures contract, the SXF."\n\n\nExpenses in the second quarter 2007 declined 4% to $12.9 million. The\ndecrease in expenses was primarily attributable to lower amortization and\nlower computer licences and maintenance expenses. For the first half of 2007,\nexpenses increased 5% to $28.3 million, mainly due to non-recurring fees\nrelated to the listing of MX shares ...