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GAIN Capital Reports Fourth Quarter and Full Year 2016 Results

Highlights
Quarterly GAAP net income of $20.8 million increased 91% year-over-year, while full year 2016 GAAP net income of $35.3 million increased 243%
Achieved approximately $100 million in adjusted EBITDA(1) for the full year, driven by a strong fourth quarter performance, with quarterly adjusted EBITDA(1) of $36.9 million
Reported GAAP diluted EPS of $0.42 and $0.67, for the fourth quarter and full year 2016, respectively
Adjusted diluted EPS(1) of $0.43 and $0.92, for the fourth quarter and full year 2016, respectively
Returned over $20 million to investors via buybacks and dividends during full year 2016
Completed the migration of over 47,000 former customers of FXCM's U.S. business to FOREX.com on February 24, 2017

BEDMINSTER, N.J., March 9, 2016 /PRNewswire/ -- GAIN Capital Holdings, Inc. ("GAIN") (NYSE: GCAP), a leading global provider of online trading services, announced financial results for the fourth quarter and a full year ended December 31, 2016.

Net revenue for fiscal year 2016 was $411.8 million, down from $435.4 million in fiscal year 2015. GAAP Net Income of $35.3 million for fiscal year 2016 represented a 243% increase from $10.3 million in fiscal year 2015. Adjusted EBITDA for the year was $99.6 million, up from $80.6 million in 2015. GAIN’s financial highlights are included in the chart below.

 
Three Months Ended
December 31,
 
Fiscal Year Ended
December 31,
 
2016
 
2015
 
2016
 
2015
Net Revenue
$
115.8

 
$
102.8

 
$
411.8

 
$
435.4

Operating Expenses
(78.9
)
 
(79.1
)
 
(312.2
)
 
(348.1
)
Earnout Adjustment

 
(2.3
)
 

 
(6.7
)
Adjusted EBITDA(1)
$
36.9

 
$
21.4

 
$
99.6

 
$
80.6

 
 
 
 
 
 
 
 
Net Income
$
20.8

 
$
10.9

 
$
35.3

 
$
10.3

Adjusted Net Income(1)
$
20.8

 
$
7.2

 
$
45.0

 
$
32.3

 
 
 
 
 
 
 
 
Diluted GAAP EPS
$
0.42

 
$
0.23

 
$
0.67

 
$
0.22

Adjusted EPS(1)
$
0.43

 
$
0.15

 
$
0.92

 
$
0.67

_____________________________________
Note: Dollars in millions, except where noted otherwise. Columns may not add due to rounding.
1See below for reconciliation of non-GAAP financial measures.



The following information was filed by Gain Capital Holdings, Inc. (GCAP) on Thursday, March 9, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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