CHICAGO (AP) -- Exchange operator CBOE Holdings Inc. said its fourth-quarter net income rose slightly from the year before as higher fees helped offset stagnant trading volume.
The company said Thursday that its net income for the quarter ended Dec. 31 was $31.3 million, or 35 cents per share, compared to $30.7 million, or 31 cents per share during the same period a year before.
The company also reported adjusted net income, excluding one-time costs, of 37 cents per share, compared to 31 cents per share in the 2010 period.
Revenue was $120.2 million, up from $117.4 million in the prior year period.
The results were slightly above analysts' expectations for net income of 36 cents per share on $120 million in revenue, according to FactSet.
CBOE said daily trading volumes rose 1 percent in the quarter while total trading volume fell 1 percent compared to the year before. Average fees on each contract rose 10 percent during the quarter, the company said.
For the full year, CBOE reported net income of $137.1 million, or $1.52 per share, compared to $98.2 million, or $1.03 per share, the year before.
The company also reported adjusted net income for the year, excluding one-time costs, of $1.60 per share, compared to an adjusted $1.09 per share in 2010.
Revenue for the year was $508.1 million, compared to $437.1 million the year before.
That was slightly above Wall Street's expectation for adjusted net income of $1.57 per share on $508 million in revenue, according to FactSet.
During 2012, CBOE expects to spend between $30 million to $35 million on capital expenditures, primarily for new hardware and software to update its trading technology.
Revenue from exchange services and other fees is forecast at $24 million to $26 million, which is about $6 million to $8 million more than in 2011, the company said. The company did not provide a specific net income outlook.
Shares rose 17 cents to close at $26.47.
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