Interactive Data’s first-quarter 2014 revenue was a record $234.4 million, a 4.9% increase from $223.5 million in the first quarter of 2013. Excluding the impact of changes in foreign exchange rates, Interactive Data’s organic (non-GAAP) revenue for the first quarter of 2014 grew by 3.9% from the first quarter in 2013.
Interactive Data’s first-quarter 2014 income from operations was $40.9 million, compared with $43.4 million in the first quarter of 2013. Non-GAAP adjusted EBITDA (which excludes items that are either not part of the Company’s ongoing core operations, or do not require a cash outlay, or are not otherwise expected to recur in the ordinary course) for the first quarter of 2014 was $81.7 million, compared with $83.1 million in the same period one year ago.
“Interactive Data continued to grow despite the challenging spending environment,” stated Stephen Daffron, Interactive Data’s president and CEO. “Our organic revenue growth of 3.9% was primarily driven by the combination of continued expansion of our Pricing and Reference Data segment and a large customer implementation of our 7ticks trading infrastructure managed services. Our adjusted EBITDA performance reflected continued investment in key product and technology development initiatives, and hardware-related costs related to the 7ticks customer implementation.”