VIRT FY 2012 Earnings Report — Virtu Financial, Inc. Revenue & Financial Results | Market Cap Arena

Virtu Financial, Inc.VIRT

FY 2012 Earnings

Reported December 30, 2012

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2012	Prior Q	FY 2011	QoQ Change	YoY Change
Revenue	$616M	—	$461M	—	33.5%
Op. Income	$178M	—	$163M	—	9.5%
Gross Margin	57.0%	—	57.9%	—	-0.8pp
Net Margin	14.2%	—	19.4%	—	-5.1pp
EPS (Diluted)	$2.75	—	$2.81	—	-2.1%
Free Cash Flow	$145M	—	$145M	—	-0.6%

Revenue Flow

Item	Amount
REVENUE	$616M
Cost of Revenue	$264M
GROSS PROFIT	$351M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$55M
SG&A Expenses	$55M
Other Expenses	$117M
Operating Expenses	$173M
Cost & Expenses	$437M
OPERATING INCOME	$178M
Interest Income	$0
Interest Expense	$75M
Other Income/Expenses	-$89M
INCOME BEFORE TAX	$89M
Income Tax Expense	$2M
Net Income from Continuing Ops	$88M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$88M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$88M
D&A	$90M
EBIT	$165M
EBITDA	$254M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$616M
Cost of Revenue	$264M
GROSS PROFIT	$351M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$55M
SG&A Expenses	$55M
Other Expenses	$117M
Operating Expenses	$173M
Cost & Expenses	$437M
OPERATING INCOME	$178M
Interest Income	$0
Interest Expense	$75M
Other Income/Expenses	-$89M
INCOME BEFORE TAX	$89M
Income Tax Expense	$2M
Net Income from Continuing Ops	$88M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$88M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$88M
D&A	$90M
EBIT	$165M
EBITDA	$254M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$88M
Depreciation & Amortization	$90M
Stock-Based Compensation	$8M
Deferred Income Tax	$0
Other Non-Cash Items	-$225M
Change in Working Capital	$200M
OPERATING CASH FLOW	$160M
Capital Expenditure	-$16M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$13M
NET CASH FROM INVESTING	-$28M
Net Debt Issuance	$6M
Common Stock Repurchased	-$352.0K
Common Dividends Paid	-$134M
Other Financing Activities	$0
NET CASH FROM FINANCING	-$129M
FREE CASH FLOW	$145M
Net Change in Cash	$4M

Balance Sheet

Item	Amount
Cash & Equivalents	$40M
Short-Term Investments	$0
Net Receivables	$366M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$406M
PP&E (Net)	$31M
Goodwill	$715M
Intangible Assets	$3M
Long-Term Investments	$2.0B
Tax Assets	$0
Other Non-Current Assets	$41M
TOTAL NON-CURRENT ASSETS	$2.8B
TOTAL ASSETS	$3.2B
Account Payables	$333M
Short-Term Debt	$336M
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$669M
Long-Term Debt	$752M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$1.3B
TOTAL NON-CURRENT LIABILITIES	$2.1B
TOTAL LIABILITIES	$2.8B
Common Stock	$509M
Additional Paid-In Capital	$0
Retained Earnings	-$68M
Treasury Stock	$0
Accum. Other Comp. Income	-$55.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$440M
Minority Interest	$0
TOTAL EQUITY	$440M
TOTAL LIABILITIES & EQUITY	$3.2B
Total Debt	$1.1B
Net Debt	$1.0B