International Assets Holding Corp. (IAAC, Financial) filed Quarterly Report for the period ended 2012-06-30.
International Assets Holding Corp. has a market cap of $240.16 million; its shares were traded at around $0 with a P/E ratio of 8.6. International Assets Holding Corp. had an annual average earning growth of 29% over the past 5 years.
Compensation and Benefits: Compensation and benefits expense increased by 24% from $44.0 million to $54.6 million, and represented 47% and 51% of total non-interest expenses in Q3 2012 and Q3 2011, respectively. Total compensation and benefits were 44% of operating revenues and 44% of adjusted operating revenues in Q3 2012, respectively, compared to 42% and 43% in Q3 2011, respectively. The variable portion of compensation and benefits increased by 20% from $22.1 million in Q3 2011 to $26.6 million in Q3 2012, mainly as a result of the 20% increase in adjusted operating revenues. The fixed portion of compensation and benefits increased 28% from $21.9 million in Q3 2011 to $28.0 million in Q3 2012, primarily as a result of the acquisition of Ambrian Commodities Limited, the LME metals team and TRX Futures Limited, as well as an expansion of investment banking and information technology development departments. Administrative and executive bonuses were $3.8 million in Q3 2012, compared with $4.3 million in Q3 2011. Stock-based compensation, including stock option and restricted stock expense, in Q3 2012 was $1.5 million, compared with $0.5 million in Q3 2011. The number of employees remained relatively constant, with 1,061 at the beginning of Q3 2012 and 1,066 at the end of Q3 2012.
Compensation and Benefits: Compensation and benefits expense increased by 20% from $129.6 million to $155.5 million, and represented 48% and 50% of total non-interest expenses in YTD 2012 and YTD 2011, respectively. Total compensation and benefits were 46% of operating revenues and adjusted operating revenues in YTD 2012, respectively, compared to 41% and 42% in YTD 2011, respectively. The variable portion of compensation and benefits increased by 6% from $71.2 million in YTD 2011 to $75.5 million in YTD 2012, mainly as a result of the 9% increase in adjusted operating revenues. The fixed portion of compensation and benefits increased 37% from $58.4 million in YTD 2011 to $80.0 million in YTD 2012, primarily as a result of the acquisition of certain assets of Hudson Capital Energy, Ambrian Commodities Limited, the LME metals team and TRX Futures Limited, as well as an expansion of investment banking and information technology development departments. Administrative and executive bonuses were $10.6 million in YTD 2012, compared with $9.7 million in YTD 2011. Stock-based compensation, including stock option and restricted stock expense, in YTD 2012 was $3.8 million, compared with $1.6 million in YTD 2011. The number of employees increased 18% from 904 at the end of fiscal 2011 to 1,066 at the end of Q3 2012, primarily as a result of the acquisitions of Ambrian Commodities Limited, the LME metals team and TRX Futures Limited. The number of employees at the end of Q3 2011was 872.
Within the soft commodities product line, operating revenues increased 7% from $51.3 million in Q3 2011 to $54.7 million in Q3 2012. Exchange-traded contract volumes increased 9% and OTC contract volumes increased 52%, respectively over the prior year comparative period, which includes primarily agricultural and energy commodities. The increase in exchange traded contract volumes, driven by volatility in agricultural commodities, contributed to an increase of 7%, or $1.1 million in commission and clearing fee revenues compared to the prior year period. The strong growth in OTC contract volumes, primarily in agricultural commodities and driven by volatility caused by weather conditions in the United States, contributed to a $3.0 million increase in overall OTC revenues. Interest income decreased 64% from the prior year period to $0.9 million as a result of lower short term interest rates, a 10% decrease in the average level of exchange traded customer deposits to $857 million in Q3 2011 and lower overall OTC margin deposits.
Operating revenues in the segment were $3.8 million for Q3 2012 compared to $3.3 million for Q3 2011. Assets under management as of June 30, 2012 were $489.6 million compared with $352.0 million as of June 30, 2011. Operating revenues in the asset management product line increased $0.3 million to $2.3 million in Q3 2012 as compared to the prior year period. Operating revenues in the grain financing and physical commodity origination product line increased $0.1 million to $1.5 million in Q3 2012 primarily related to an increase in physical commodity origination sales. Segment income was $1.5 million in Q3 2012 compared to $1.3 million in Q3 2011.
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International Assets Holding Corp. has a market cap of $240.16 million; its shares were traded at around $0 with a P/E ratio of 8.6. International Assets Holding Corp. had an annual average earning growth of 29% over the past 5 years.
Highlight of Business Operations:
The Company s operating revenues under U.S. GAAP for YTD 2012 and YTD 2011 were $339.7 million and $315.1 million, respectively. This increase in operating revenue was primarily impacted by increases in operating revenues of 13% in the Foreign Exchange segment, 24% in the Securities segment, 38% in the CES segment and 14% in the Other segment. This increase was partially offset by a 3% decrease in the operating revenues in the C&RM segment. Adjusted operating revenues increased 9% from $311.3 million in YTD 2011 to $339.7 million in YTD 2012.Compensation and Benefits: Compensation and benefits expense increased by 24% from $44.0 million to $54.6 million, and represented 47% and 51% of total non-interest expenses in Q3 2012 and Q3 2011, respectively. Total compensation and benefits were 44% of operating revenues and 44% of adjusted operating revenues in Q3 2012, respectively, compared to 42% and 43% in Q3 2011, respectively. The variable portion of compensation and benefits increased by 20% from $22.1 million in Q3 2011 to $26.6 million in Q3 2012, mainly as a result of the 20% increase in adjusted operating revenues. The fixed portion of compensation and benefits increased 28% from $21.9 million in Q3 2011 to $28.0 million in Q3 2012, primarily as a result of the acquisition of Ambrian Commodities Limited, the LME metals team and TRX Futures Limited, as well as an expansion of investment banking and information technology development departments. Administrative and executive bonuses were $3.8 million in Q3 2012, compared with $4.3 million in Q3 2011. Stock-based compensation, including stock option and restricted stock expense, in Q3 2012 was $1.5 million, compared with $0.5 million in Q3 2011. The number of employees remained relatively constant, with 1,061 at the beginning of Q3 2012 and 1,066 at the end of Q3 2012.
Compensation and Benefits: Compensation and benefits expense increased by 20% from $129.6 million to $155.5 million, and represented 48% and 50% of total non-interest expenses in YTD 2012 and YTD 2011, respectively. Total compensation and benefits were 46% of operating revenues and adjusted operating revenues in YTD 2012, respectively, compared to 41% and 42% in YTD 2011, respectively. The variable portion of compensation and benefits increased by 6% from $71.2 million in YTD 2011 to $75.5 million in YTD 2012, mainly as a result of the 9% increase in adjusted operating revenues. The fixed portion of compensation and benefits increased 37% from $58.4 million in YTD 2011 to $80.0 million in YTD 2012, primarily as a result of the acquisition of certain assets of Hudson Capital Energy, Ambrian Commodities Limited, the LME metals team and TRX Futures Limited, as well as an expansion of investment banking and information technology development departments. Administrative and executive bonuses were $10.6 million in YTD 2012, compared with $9.7 million in YTD 2011. Stock-based compensation, including stock option and restricted stock expense, in YTD 2012 was $3.8 million, compared with $1.6 million in YTD 2011. The number of employees increased 18% from 904 at the end of fiscal 2011 to 1,066 at the end of Q3 2012, primarily as a result of the acquisitions of Ambrian Commodities Limited, the LME metals team and TRX Futures Limited. The number of employees at the end of Q3 2011was 872.
Within the soft commodities product line, operating revenues increased 7% from $51.3 million in Q3 2011 to $54.7 million in Q3 2012. Exchange-traded contract volumes increased 9% and OTC contract volumes increased 52%, respectively over the prior year comparative period, which includes primarily agricultural and energy commodities. The increase in exchange traded contract volumes, driven by volatility in agricultural commodities, contributed to an increase of 7%, or $1.1 million in commission and clearing fee revenues compared to the prior year period. The strong growth in OTC contract volumes, primarily in agricultural commodities and driven by volatility caused by weather conditions in the United States, contributed to a $3.0 million increase in overall OTC revenues. Interest income decreased 64% from the prior year period to $0.9 million as a result of lower short term interest rates, a 10% decrease in the average level of exchange traded customer deposits to $857 million in Q3 2011 and lower overall OTC margin deposits.
Operating revenues in the segment were $3.8 million for Q3 2012 compared to $3.3 million for Q3 2011. Assets under management as of June 30, 2012 were $489.6 million compared with $352.0 million as of June 30, 2011. Operating revenues in the asset management product line increased $0.3 million to $2.3 million in Q3 2012 as compared to the prior year period. Operating revenues in the grain financing and physical commodity origination product line increased $0.1 million to $1.5 million in Q3 2012 primarily related to an increase in physical commodity origination sales. Segment income was $1.5 million in Q3 2012 compared to $1.3 million in Q3 2011.
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