Financial Info iStock_000024396800SmallInteractive Data Corporation third quarter 2014 revenue was $233.5 million, a 4.1% increase from $224.3 million in the third quarter of 2013.  Excluding the impact of changes in foreign exchange rates, Interactive Data’s organic (non-GAAP) revenue for the third quarter of 2014 grew by 2.8% from the same quarter last year. 

Interactive Data’s third quarter 2014 income from operations was $58.1 million, compared with $41.2 million in the third 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 third quarter of 2014 was $93.5 million, compared with $88.5 million in the same period one year ago.

“During the third quarter we continued to produce revenue growth even as market conditions remained challenging,” stated Stephen Daffron, Interactive Data’s president and CEO. “Our organic revenue growth in the quarter was driven by continued growth in our Pricing and Reference Data segment, as well as expansion within our 7ticks trading infrastructure managed services area. We generated adjusted EBITDA growth of 5.6% in the quarter as we continue to take steps to prudently manage our cost structure.”

Segment Reporting and Related Operating Highlights

Pricing and Reference Data Segment:

  • Interactive Data’s Pricing and Reference Data segment reported third quarter 2014 revenue of $166.9 million, a 4.8% increase over $159.2 million in the third quarter of 2013. Excluding the impact of changes in foreign exchange rates, third quarter 2014 organic (non-GAAP) revenue for this segment increased by 3.8% from the same period last year. The segment’s performance reflects continued growth in the Company’s evaluated pricing and reference data services in North America. In August, the Company launched its Continuous Fixed Income Evaluated Pricing Service, which provides clients with greater pre-trade transparency support and price discovery capabilities on a continuous basis throughout the trading day. We believe this is a unique capability in the industry.

Trading Solutions Segment:

  • Interactive Data’s Trading Solutions segment generated third quarter 2014 revenue of $66.6 million, an increase of 2.2% over $65.2 million in the same period one year ago. Excluding the impact of changes in foreign exchange rates, third quarter 2014 organic (non-GAAP) revenue for this segment increased 0.5% from the same period last year as growth in the 7ticks trading infrastructure managed services product area was mostly offset by declines in our other Trading Solutions product areas. We are continuing our investment in the coverage, quality, features, and functionality of our real-time Consolidated Feed offering.

Results for the Nine Months Ended September 30, 2014

  • For the nine months ended September 30, 2014, Interactive Data reported revenue of $699.9 million, an increase of $27.0 million, or 4.0%, from $672.9 million in the same period last year. Excluding the effects of foreign exchange, organic revenue growth was 2.7% during the first nine months of 2014.
  • For the nine months ended September 30, 2014, Interactive Data reported income from operations of $126.9 million, compared with $134.2 million in the same period one year ago. For the first nine months of 2014, non-GAAP adjusted EBITDA (which excludes items that are 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) was $264.1 million, compared with $262.1 million in the same period one year ago.

Source:  Marketwired.com