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Virtu Announces Third Quarter 2017 Results
NEW YORK, NY, November 7, 2017 Virtu Financial, Inc. (NASDAQ: VIRT), a leading technology-enabled market maker and liquidity provider to the global financial markets, today reported results for the third quarter ended September 30, 2017.
Third Quarter Highlights
Reported results include KCG from July 20 through September 30, 2017
· Net loss of $40.0 million, burdened by costs associated with the KCG acquisition and amortization of purchased intangibles; Normalized Adjusted Net Income* of $22.2 million
· Basic and Diluted loss per share of $0.17; Normalized Adjusted EPS* of $0.08
· Total revenues of $271.3 million; Adjusted Net Trading Income* of $159.8 million
· Adjusted EBITDA* of $58.9 million; Adjusted EBITDA Margin* of 36.8%
· KCG integration on track; Expense and Capital Synergy progress ahead of plan
· Made total to-date voluntary pre-payments of $200 million on the $1.15B term loan debt incurred in connection with KCG acquisition
· Quarterly cash dividend of $0.24 per share payable on December 15, 2017
The following information was filed by Virtu Financial, Inc. (VIRT) on Tuesday, November 7, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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