GAIN Capital -9.8% after reporting slow Q2; Q1 restated higher


Net loss of $5.2M or $0.13 per share vs. income of $17.2M and $0.44 one year ago. Adjusted EBITDA loss of $1.6M vs. gain of $26.9M a year ago.

Retail OTC trading volume of $522.2B up 13% Y/Y. Institutional trading volume of $1.3T up 27%. Average daily futures contracts of 26,322 up 19%. Total client assets of $840M up 76%.

Retail OTC segment revenue of $36.4M vs. $57.5M a year ago as FX volatility vanished. "Difficult trading conditions persist with currency volatility at levels not seen in over ten years."

Institutional sales and trading segment revenue of $23.5M vs. $7.8M.

Futures segment revenue of $8.9M vs. $6.4M.

Q1 earnings are restated to include $4.2M of additional revenue, with the net effect of boosting pre-tax earnings by $3M and EPS by $0.05 (see pg. 10 of investor presentation).

Conference call at 5 ET

Previously: GAIN Capital Holdings misses by $0.19, beats on revenue

GCAP -9.8% AH

This was corrected on 08/12/2014 at 09:35 AM.
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Comments (1)
  • ETedH
    , contributor
    Comments (11) | Send Message
     
    This article is confusing two companies. GAIN is the symbol for Gladstone Capital. Gain Capital holdings is the company they are talking about.
    12 Aug 2014, 09:29 AM Reply Like
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