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MarketAxess Holdings Inc. Reports Operating Results (10-Q)

July 26, 2012 | About:
10qk

10qk

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MarketAxess Holdings Inc. (MKTX) filed Quarterly Report for the period ended 2012-06-30.

Marketaxess Holdings Inc. has a market cap of $1.07 billion; its shares were traded at around $31.2 with a P/E ratio of 22.8 and P/S ratio of 5.9. The dividend yield of Marketaxess Holdings Inc. stocks is 1.5%. Marketaxess Holdings Inc. had an annual average earning growth of 16.8% over the past 10 years.

Highlight of Business Operations:

Total revenues increased by $3.0 million or 6.6% to $48.8 million for the three months ended June 30, 2012, from $45.8 million for the three months ended June 30, 2011. This increase in total revenues was primarily due to an increase in commissions of $3.6 million, offset by a decrease in technology products and services of $0.8 million.

Technology Products and Services. Technology products and services revenues decreased by $0.8 million or 19.2% to $3.2 million for the three months ended June 30, 2012, from $4.0 million for the three months ended June 30, 2011. The decrease was primarily a result of lower professional service fees.

Total revenues increased by $10.2 million or 11.4% to $99.6 million for the six months ended June 30, 2012, from $89.4 million for the six months ended June 30, 2011. This increase in total revenues was primarily due to an increase in commissions of $10.7 million, offset by a decrease in technology products and services of $1.0 million.

Technology Products and Services. Technology products and services revenues decreased by $1.0 million or 13.6% to $6.1 million for the six months ended June 30, 2012, from $7.1 million for the six months ended June 30, 2011. The decrease was primarily a result of lower professional consulting and software license fees.

General and Administrative. General and administrative expenses increased by $1.3 million or 46.7% to $4.1 million for the six months ended June 30, 2012, from $2.8 million for the six months ended June 30, 2011. During the first quarter of 2011, the Company received a $0.7 million reimbursement of previously paid sales tax. The increase in general and administrative expenses was primarily attributable to the 2011 sales tax credit coupled with a higher provision for doubtful accounts of $0.6 million.

Read the The complete Report

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