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Virtu Announces First Quarter 2018 Results
NEW YORK, NY, May 4, 2018 Virtu Financial, Inc. (NASDAQ: VIRT), a leading technology-enabled market maker and liquidity provider to the global financial markets, today reported results for the first quarter ended March 31, 2018.
First Quarter Selected Highlights
· Net income of $410.0 million, Normalized Adjusted Net Income* of $145.0 million
· Basic earnings per share of $1.89; Diluted earnings per share of $1.86; Normalized Adjusted EPS* of $0.76
· Total revenues of $815.1 million; Adjusted Net Trading Income* of $340.3 million
· Adjusted EBITDA* of $222.7 million; Adjusted EBITDA Margin* of 65.4%
· Results include $329 million net gain on sale of BondPoint transaction closed on January 2, 2018
· Expense and capital synergies on track with forecast as integration progresses
· Made $376 million of pre-payments on the term loan since the beginning of 2018, including $100 million pre-payment made on April 19
· Total to-date pre-payments of $626 million on the $1.15 billion term loan debt incurred in connection with KCG acquisition
· Repurchased to date $11 million out of $50 million previously announced share buyback program
· Quarterly cash dividend of $0.24 per share payable on June 15, 2018
The following information was filed by Virtu Financial, Inc. (VIRT) on Friday, May 4, 2018 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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