The Brazilian Securities, Commodities and Futures Exchanges net income reached BRL22.0 million, with earnings per share of BRL0.11. Unadjusted net income for the first quarter declined by 1.4% from the same quarter a year earlier.
1Q 09 net revenues of BRL316.5 million, decreased by 20.2% from the same quarter in the previous year. 1Q09 operational expenses reached BRL148.8 million (BRL139.8 million net of depreciation).
However, excluding depreciation and costs incurred for the employee stock option plan and employee terminations, adjusted operational expenses amounted to BRL103.0 million, a 17.4% decrease from the same quarter in the previous year, in line with the BRL450 million target for the year.
The Exchanges Adjusted Net Income in the 1Q09 amounted to BRL258.3 million and the Adjusted EBITDA to BRL 213.5 million, excluding the above mentioned effects of the employee stock options plan and of employee terminations.
The Adjusted EBITDA Margin for 1Q09 was 67.5%. The Board of Directors approved a BRL112 million distribution of interest on shareholders equity.
L.D.