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  • bluecheese4u bluecheese4u Jul 25, 2012 9:25 AM Flag


    July 25, 2012


     Q212 non-GAAP diluted EPS of $0.64, up $0.02 compared to prior year quarter; Q212
    GAAP diluted EPS of $0.53
     Q212 non-GAAP net exchange revenues1 were $413 million, down 0.5% year-over-year,
    but up 3% year-over-year on an organic basis (constant currency and excluding
    acquisitions); Q212 net exchange revenues were $424 million
     Performance driven by growth in Global Market Data Products (revenues up 8% yearover-
    year to $90 million) and Access Services (revenues up 11% year-over-year to $61

    New York, N.Y.—The NASDAQ OMX Group, Inc. (NASDAQ: NDAQ) today reported results
    for the second quarter of 2012. Second quarter non-GAAP net exchange revenues were
    $413 million, down 0.5% compared to the second quarter of 2011. Excluding the impact of
    foreign currency, non-GAAP second quarter 2012 net exchange revenues increased 3%
    compared to the second quarter of 2011.
    Operating expenses were $249 million, compared to $257 million in the second quarter of
    2011. On a non-GAAP basis, excluding $17 million of restructuring charges, $1 million of
    merger and strategic initiative expenses, and $2 million of other charges, second quarter
    2012 non-GAAP operating expenses were $229 million. Non-GAAP operating expenses were
    up $1 million year-over-year.
    Second quarter 2012 non-GAAP diluted earnings per share were $0.64, up $0.02 compared
    to the prior year quarter. Non-GAAP earnings per share in Q212 excludes income from
    open positions relating to the operations of the Exchange of $11 million, non-cash intangible
    asset impairment charges of $28 million, restructuring charges of $17 million, merger and
    strategic initiative expenses of $1 million, and other charges of $2 million. On a GAAP
    basis, net income attributable to NASDAQ OMX for the second quarter of 2012 was $93
    million, or $0.53 per diluted share, compared with $92 million, or $0.51 per diluted share,
    in the prior year quarter.
    Robert Greifeld, NASDAQ OMX’s CEO, commented: “The second quarter saw a
    continuation of solid growth in our recurring and subscription-based businesses. Strong
    growth in our Global Market Data, Access Services and Global Index businesses offset
    continued weak trends in our transaction-based businesses. This performance was a direct
    result of our continued focus on cost management, and the execution of our strategy to
    build strong, recurring and subscription-based revenue businesses that can drive growth,
    despite the trading environment.”
    Lee Shavel, NASDAQ OMX’s EVP and Chief Financial Officer, said: “Over the last three
    and a half years, NASDAQ OMX has clearly demonstrated its ability to generate strong free
    cash flow during a historically difficult business cycle. In the second quarter of 2012, we
    continued to generate substantial capital and to execute on our strategy to deploy that
    capital effectively. We paid our first cash dividend of $0.13 per common share in June
    2012, and repurchased $125 million of our common stock. In addition, we utilized


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