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

November 02, 2012 | About:
10qk

10qk

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MarketAxess Holdings Inc. (MKTX) filed Quarterly Report for the period ended 2012-09-30.

Marketaxess Holdings, Inc. has a market cap of $1.16 billion; its shares were traded at around $31.17 with a P/E ratio of 23.5 and P/S ratio of 6.4. The dividend yield of Marketaxess Holdings, Inc. stocks is 1.4%. 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 $1.7 million or 3.6% to $48.3 million for the three months ended September 30, 2012, from $46.6 million for the three months ended September 30, 2011. This increase in total revenues was primarily due to an increase in commissions of $2.6 million, offset by a decrease in revenue from technology products and services of $0.8 million.

Technology Products and Services. Technology products and services revenues decreased by $0.8 million or 21.2% to $3.0 million for the three months ended September 30, 2012, from $3.8 million for the three months ended September 30, 2011. The decrease was primarily a result of lower professional service fees.

Total revenues increased by $11.9 million or 8.7% to $147.8 million for the nine months ended September 30, 2012, from $136.0 million for the nine months ended September 30, 2011. This increase in total revenues was primarily due to an increase in commissions of $13.3 million, offset by a decrease in technology products and services of $1.8 million.

Technology Products and Services. Technology products and services revenues decreased by $1.8 million or 16.2% to $9.1 million for the nine months ended September 30, 2012, from $10.9 million for the nine months ended September 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 $1.6 million or 36.0% to $6.2 million for the nine months ended September 30, 2012, from $4.6 million for the nine months ended September 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 $0.3 million.

Read the The complete Report

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