Interactive Data Corporation (NYSE: IDC) today reported its
financial results for the second quarter ended June 30, 2008.
Interactive Data�s second-quarter 2008 revenue increased 9.5% to
$186.1 million from $170.0 million in the second quarter of 2007.
Net income for the second quarter of 2008 was $33.5 million, or
$0.35 per diluted share, a 15.1% increase over net income of $29.1
million, or $0.30 per diluted share, in the second quarter of 2007.
�We are pleased with Interactive Data�s second-quarter 2008
results, particularly in light of the turbulent market conditions,�
stated Stuart Clark, president and chief executive officer. �Our
strong second-quarter 2008 revenue growth of 9.5%, combined with
disciplined spending, produced a 13.6% increase in income from
operations and 15.1% net income growth. In addition, we enjoyed
another quarter of significant cash generation. Organic revenue
growth of 7.7% during the second quarter of 2008 reflects an
outstanding performance at our Pricing and Reference Data business
as well as continued momentum with our real-time datafeeds
business.� �During the second quarter of 2008, new sales activity
was robust and renewal rates across our institutional businesses
remained at approximately 95%,� Clark continued. �We believe that
our success in the marketplace and strong standing with our
customers reflects the mission-critical nature of our core products
and services, and our ability to help them address important trends
that are affecting their businesses. An important highlight during
the quarter was our agreement to acquire Kler�s Financial Data
Service, a leading provider of reference data to the Italian
financial industry. This acquisition will enable us to increase our
presence in Italy and further expand the breadth and depth of
valuable reference data that we collect and deliver to our clients
worldwide.� Andrew Hajducky, Interactive Data�s executive vice
president and chief financial officer, commented, �We ended the
second quarter with $254.8 million in cash, cash equivalents and
marketable securities and no debt. Upcoming uses of cash include
funding our recently approved regular quarterly dividend and the
acquisition of Kler�s, which we anticipate will close within the
next several weeks. With another good quarter of cash generation
behind us and an array of exciting growth opportunities in front of
us, we also plan to modestly accelerate our capital spending during
the second half of 2008 against our original plan as we further
fortify our technical infrastructure.� Clark concluded, �We have
continued to implement key elements of our growth strategy aimed at
delivering high-value services and expanding our business
internationally. As a result of our recent acquisitions, strategic
alliances and internal development activities, we are delivering
compelling new services, adding innovative capabilities to our
existing offerings, broadening our market coverage and scaling our
infrastructure. We move forward well positioned to continue
expanding our business with customers worldwide, and are on pace to
deliver another year of solid financial results.� Other
Second-Quarter 2008 and Recent Financial and Operating Highlights
Effects of Foreign Exchange: Interactive Data's second-quarter 2008
revenue was positively impacted by $2.3 million due to the effects
of foreign exchange. Second-quarter 2008 revenue before the effects
of foreign exchange grew by $13.9 million, or 8.2%, over the
comparable period in 2007. Total costs and expenses in the second
quarter of 2008 were negatively impacted by $2.4 million due to the
effects of foreign exchange. Second-quarter 2008 total costs and
expenses before the effects of foreign exchange increased by $7.8
million, or 6.2%, over the second quarter of 2007. Revenue by
Geography: Interactive Data�s total second-quarter 2008 revenue in
North America grew 8.5% to $131.5 million from $121.3 million in
the same period last year primarily due to growth within its
Pricing and Reference Data business and continued institutional
adoption of its real-time datafeed services. The Company�s
second-quarter 2008 revenue in Europe increased 10.9% to $49.9
million from $45.0 million in the comparable period one year ago
(or increased by 6.7% before the effects of foreign exchange) due
to strong results within its European Pricing and Reference Data
business. Interactive Data�s Asia-Pacific revenue of $4.7 million
in the second quarter of 2008 was up 27.0% from $3.7 million in the
second quarter of 2007 (or increased by 15.7% before the effects of
foreign exchange) due primarily to strength in Australia. A table
summarizing revenue by geography, including the impact of foreign
exchange and each major geographic region as a percentage of total
revenue, has been included on page 12 of this press release.
Institutional Services Segment: Interactive Data Pricing and
Reference Data reported second-quarter 2008 revenue of $117.8
million, an 11.5% increase over the prior year�s second quarter (or
an increase of 11.2% before the effects of foreign exchange).
Xcitek, which was acquired in May 2007, contributed incremental
revenue of $0.8 million to the second quarter of 2008. Excluding
the contributions from the Xcitek market data business that was
acquired in May 2007, intercompany eliminations resulting from the
Xcitek acquisition and the effects of foreign exchange,
second-quarter 2008 revenue increased 10.5% over the same period
last year. Revenue growth for this business in the second quarter
of 2008 primarily reflects the expansion of business with existing
customers in both North America and Europe. Recent highlights for
this business included the agreement to acquire Kler�s and the
introduction of enhanced valuation and reference data services.
Interactive Data Real-Time Services generated second-quarter 2008
revenue of $37.9 million, an increase of 11.3% over the same
quarter last year (or an increase of 5.8% before the effects of
foreign exchange). The revenue increase was driven by strong growth
in the real-time datafeeds business and continued expansion of the
Managed Solutions business in the United States. On July 1, 2008,
Interactive Data Real-Time Services launched its new-generation,
high-speed data distribution network, which is designed to
effectively manage the anticipated rapid growth of data volumes.
Interactive Data Fixed Income Analytics reported revenue for the
second quarter of 2008 of $8.1 million, which declined by 1.2% from
last year�s second quarter. New sales and one-time consulting
project revenue were essentially offset by the impact of
cancellations primarily caused by client consolidation activities.
Active Trader Services Segment: eSignal�s second-quarter 2008
revenue of $22.3 million increased 1.2% from the same quarter last
year (or an increase of 0.9% before the effects of foreign
exchange). eSignal ended the second quarter of 2008 with nearly
62,000 direct subscription terminals, which is essentially
unchanged from the same period one year ago. At the end of June,
eSignal released eSignal�10.1, an upgrade to its award-winning
flagship software, and extended the enhancements in this upgrade
across the eSignal Pro� and eSignal, Advanced GET� Edition product
lines. Six-Month Results For the six months ended June 30, 2008,
Interactive Data reported revenue of $367.9 million, an increase of
$35.4 million, or 10.6%, from $332.5 million for the comparable
period in 2007. Total costs and expenses rose 7.7%, or $19.2
million, to $268.9 million in the first six months of 2008. Net
income for the first six months of 2008 increased 20.2% to $65.8
million, or $0.68 per diluted share, from $54.8 million, or $0.57
per diluted share, in the comparable period of 2007. The tax rate
for the first six months of 2008 was 36.2% compared with 36.9% in
the same period last year and 31.8% for the full year 2007. Cash
Position, Stock Buyback Activities, and Quarterly Cash Dividend: As
of June 30, 2008, Interactive Data had no outstanding debt and had
cash, cash equivalents and marketable securities of $254.8 million.
During the second quarter of 2008, Interactive Data spent $14.2
million to repurchase 512,000 shares of common stock at an average
purchase price of $27.74 per share as part of its existing stock
buyback program. Entering the third quarter of 2008, more than 1.8
million shares remained available for repurchase under the existing
stock buyback program. During the second quarter of 2008,
Interactive Data paid $14.1 million to stockholders in connection
with its regular quarterly dividend of $0.15 per share to
stockholders. On July 16, 2008, Interactive Data announced that its
Board of Directors declared a quarterly cash dividend of $0.15 per
share of Interactive Data common stock payable on September 26,
2008 to stockholders of record on September 5, 2008. Kler�s
Financial Data Service S.r.l. Acquisition: On June 26, 2008,
Interactive Data announced an agreement to acquire Kler�s Financial
Data Service S.r.l., a leading provider of reference data to the
Italian financial industry, for a purchase price of �19.0 million
(or approximately $29.9 million based on current exchange rates) in
cash. The transaction is expected to be completed early in the
third quarter of 2008, contingent upon customary closing
conditions. This acquisition represents an important element in
Interactive Data�s strategy to expand its reference data services
and to continue increasing its direct presence across continental
Europe. CEO Succession Plan On May 21, 2008, Interactive Data
announced that its Board of Directors initiated a CEO succession
process after Stuart J. Clark informed the Board that he intends to
retire as president and chief executive officer during 2009.
Clark's current role as president and chief executive officer will
remain unchanged through the succession process. Once his successor
has been appointed by the Board, Clark plans to work closely with
this executive to ensure an orderly, seamless transition of
leadership before retiring. 2008 Outlook We are updating our
outlook for 2008 from prior guidance that was issued in February
2008 and reaffirmed in April 2008. -- 2008 revenue growth over 2007
on a percentage basis is now expected to be in the range of 8% to
10% compared with original guidance that called for revenue growth
in the 7% to 9% range. � -- Income from operations is now expected
to grow in the range of 11% to 13% versus original guidance for
income from operations growth in the 9% to 11% range. � -- Our 2008
effective tax rate is still expected to be in the range of 36% to
38%. � -- As a result of the anticipated increase in our 2008
effective tax rate over our 2007 effective tax rate and the
expected impact of lower interest rates on interest income, we
still anticipate that net income growth in 2008 on a percentage
basis will be in the range of 3% to 6%. � -- Due to the anticipated
acceleration of investments aimed at enhancing the Company's
technical infrastructure, capital expenditures in 2008 are now
expected to be approximately $49 million, which exceeds original
guidance in the range of $45 million to $47 million. The Company�s
updated 2008 outlook does not include the impact of the Kler�s
acquisition, which is expected to be completed within the next
several weeks. Once completed, the contribution from Kler�s is not
anticipated to have a material affect on the Company�s updated 2008
outlook. Conference Call Information Interactive Data Corporation's
management will conduct a conference call on Thursday, July 24,
2008 at 11:00 a.m. Eastern Time to discuss the second-quarter 2008
results, related financial and statistical information, and
additional business matters. The dial-in number for the conference
call is (706) 679-4631 and the related access code is 54976924. A
live webcast of the conference call, along with related slides,
will be broadcast on the investor relations section of the
Company�s Web site at www.interactivedata.com and through
www.streetevents.com. To listen, please register and download audio
software at the site at least 15 minutes prior to the call. For
those who cannot listen to the live broadcast, a replay of the call
will be available from July 24 at 2:00 p.m. until Thursday, August
7, 2008 at 2:00 p.m., and it can be accessed by dialing (706)
645-9291 or (800) 642-1687, using access code 54976924. A replay of
the call, the related slides and other financial and statistical
information presented on the conference call will also be available
on the investor relations section of the Company�s Web site at
www.interactivedata.com after the call is completed. The
information on the Company�s Web site is not incorporated by
reference into this press release. Non-GAAP Information In an
effort to provide investors with additional information regarding
our results on a generally accepted accounting principles (GAAP)
basis, we also disclose the following non-GAAP information, which
management believes provides the following useful information to
investors: Management refers to growth rates at constant foreign
currency exchange rates so that business results can be viewed
without the impact of changing foreign currency exchange rates,
thereby facilitating period-to-period comparisons of our underlying
business. Generally, when the U.S. dollar either strengthens or
weakens against other currencies, the growth at constant currency
rates will be higher or lower than growth reported at actual
exchange rates. Management includes information regarding organic
revenue growth, which excludes the contribution of businesses
recently acquired, related intercompany eliminations and the
effects of foreign currency exchange rates because management
believes that facilitating period-to-period comparisons of our
organic revenue growth on a constant dollar basis better reflects
actual trends. As part of determining organic growth, management
refers to revenue for our Interactive Data Pricing and Reference
Data, Interactive Data Real-Time Services, Interactive Data Fixed
Income Analytics, and eSignal businesses. Management uses such
information for evaluating its business, and for forecasting and
planning purposes. In addition, since we have historically reported
revenue for these businesses to the investment community as part of
our reports on Form 10-K and Form 10-Q, we believe that continuing
to offer such information provides consistency in our financial
reporting. Management includes information regarding core total
costs and expenses which excludes total costs and expenses
associated with businesses recently acquired, and the effects of
foreign exchange because management believes changes in our core
total costs and expenses on a constant dollar basis better reflect
actual trends in the core businesses. Management includes
information regarding core operating profit, which excludes revenue
and costs and expenses associated with recently acquired
businesses, intercompany eliminations and the effects of foreign
exchange because management believes changes in our core operating
profit on a constant dollar basis better reflect actual trends in
the core businesses. The above measures are non-GAAP financial
measures and should not be considered in isolation from (and are
not intended to represent an alternative measure of) revenue, total
costs and expenses, earnings or cash flows provided by operating
activities, each as determined in accordance with GAAP. In
addition, the above measures may not be comparable to similarly
titled measures reported by other companies. Forward-looking and
Cautionary Statements This press release contains certain
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995 and federal securities
laws, and is subject to the safe-harbor created by such Act and
laws. Forward-looking statements include all statements that are
not historical statements and include our statements discussing our
goals, beliefs, strategies, objectives, plans, future financial
conditions, results of operations and cash flows or projections,
our statements about accelerating innovation, strengthening and
expanding strategic customer relationships, and responding
decisively to emerging market opportunities, as well as our
statements appearing under the heading "2008 Outlook." These
statements are subject to known and unknown risks, uncertainties,
assumptions and other factors that may cause actual results to be
materially different from those contemplated by the forward-looking
statements. Such factors include, but are not limited to: (i) the
presence of competitors with greater financial resources than ours
and their strategic response to our services and offerings; (ii)
the impact of cost-cutting pressures across the industries we
serve; (iii) a decline in activity levels in the securities
markets; (iv) the possibility of a prolonged outage or other major
unexpected operational difficulty at any of our key facilities; (v)
our ability to maintain relationships with our key suppliers and
providers of market data; (vi) our ability to maintain our
relationships with service bureaus and custodian banks; (vii)
consolidation of financial services companies, both within an
industry and across industries; (viii) new offerings by competitors
or new technologies that could cause our offerings or services to
become less competitive or obsolete, or we may not be able to
develop new or enhanced services or offerings; (ix) our ability to
negotiate and enter into strategic acquisitions or alliances on
favorable terms, if at all; (x) our ability to realize the
anticipated benefits from any strategic acquisitions or alliances
that we enter into; (xi) we are subject to regulatory oversight and
we provide services to financial institutions that are subject to
significant regulatory oversight, and any investigation of us or
our customers relating to our services could be expensive, time
consuming and harm our reputation; (xii) new legislation of changes
in government or quasi-government rules, regulations, directives or
standards may reduce demand for our service or increase our
expenses; (xiii) certain of our subsidiaries are subject to complex
regulations and licensing requirements; (xiv) the risks of doing
business internationally; (xv) our ability to attract and retain
key personnel; and (xvi) the ability of our majority shareholder to
exert influence over our affairs, including the ability to approve
or disapprove any corporate actions submitted to a vote of our
stockholders; and other factors identified in our most recent
Annual Report on Form 10-K and Quarterly Report on Form 10-Q filed
with the Securities and Exchange Commission. We undertake no
obligation to update these forward-looking statements. About
Interactive Data Corporation Interactive Data Corporation (NYSE:
IDC) is a leading global provider of financial market data,
analytics and related services to financial institutions, active
traders and individual investors. The Company's businesses supply
real-time market data, time-sensitive pricing, evaluations and
reference data for millions of securities traded around the world,
including hard-to-value instruments. Many of the world's best-known
financial service and software companies subscribe to the Company's
services in support of their trading, analysis, portfolio
management and valuation activities. Through its businesses,
Interactive Data Pricing and Reference Data, Interactive Data
Real-Time Services, Interactive Data Fixed Income Analytics, and
eSignal, the Company has approximately 2,300 employees in offices
located throughout North America, Europe, Asia and Australia. The
Company is headquartered in Bedford, Mass. Pearson plc (NYSE: PSO;
LSE: PSON), an international media company, whose businesses
include the Financial Times Group, Pearson Education, and the
Penguin Group, is Interactive Data Corporation's majority
stockholder. Interactive Data Corporation is celebrating its 40th
anniversary in 2008. For more information about Interactive Data
Corporation and its businesses, please visit
www.interactivedata.com. INTERACTIVE DATA CORPORATION AND
SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited) (In thousands, except per share data) � � � � � � �
Three Months Ended Six Months Ended June 30, June 30, � 2008 � �
2007 � Change � 2008 � � 2007 � Change � � REVENUE $ 186,149 $
169,968 9.5 % $ 367,860 $ 332,503 10.6 % � COSTS & EXPENSES
Cost of services(a) 61,319 55,883 9.7 % 121,510 110,377 10.1 %
Selling, general & administrative(a) 61,153 58,368 4.8 %
120,374 115,427 4.3 % Depreciation 6,805 5,263 29.3 % 13,310 10,966
21.4 % Amortization � 6,901 � � 6,474 � 6.6 % � 13,755 � � 12,941 �
6.3 % Total costs & expenses � 136,178 � � 125,988 � 8.1 % �
268,949 � � 249,711 � 7.7 % � INCOME FROM OPERATIONS 49,971 43,980
13.6 % 98,911 82,792 19.5 % � Other income, net � 1,966 � � 2,062 �
-4.7 % � 4,315 � � 3,927 � 9.9 % INCOME BEFORE INCOME TAXES 51,937
46,042 12.8 % 103,226 86,719 19.0 % Income tax expense � 18,410 � �
16,901 � 8.9 % � 37,401 � � 31,959 � 17.0 % NET INCOME $ 33,527 � $
29,141 � 15.1 % $ 65,825 � $ 54,760 � 20.2 % � NET INCOME PER
SHARE: Basic $ 0.36 $ 0.31 16.1 % $ 0.70 $ 0.58 20.7 % Diluted $
0.35 $ 0.30 16.7 % $ 0.68 $ 0.57 19.3 % Cash dividends declared per
common share(b) $ 0.15 $ 0.125 20.0 % $ 0.15 $ 0.25 -40.0 % �
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING: Basic 94,011 94,134
-0.1 % 94,140 93,828 0.3 % Diluted 96,954 97,217 -0.3 % 97,153
96,735 0.4 % � (a) Certain prior year amounts have been
reclassified to conform with the current year�s presentation. � (b)
During the first quarter of 2008, Interactive Data paid a special
dividend of $0.50 per common share and a regular dividend of $0.15
per common share. Both dividends were declared in December 2007.
INTERACTIVE DATA CORPORATION AND SUBSIDIARIES CONDENSED
CONSOLIDATED BALANCE SHEETS (In Thousands) � � June 30, December
31, � 2008 � � � 2007 � ASSETS Unaudited � Current Assets: Cash and
cash equivalents $ 223,462 $ 205,470 Marketable securities 31,335
73,465 Accounts receivable, net 114,585 112,432 Prepaid expenses
and other current assets 17,800 18,523 Deferred income taxes �
5,252 � � � 5,276 � Total current assets � 392,434 � � � 415,166 �
Property and equipment, net 95,362 93,832 Goodwill 558,103 554,842
Other intangible assets, net 148,792 159,869 Other assets � 4,438 �
� � 4,517 � Total Assets $ 1,199,129 � � $ 1,228,226 � �
LIABILITIES AND STOCKHOLDERS' EQUITY � Current Liabilities:
Accounts payable, trade $ 15,212 $ 24,405 Accrued liabilities
73,216 84,706 Payable to affiliates 2,730 732 Income taxes payable
10,804 16,065 Deferred revenue 37,005 30,524 Dividends payable � -
� � � 61,331 � Total current liabilities � 138,967 � � � 217,763 �
Income taxes payable 8,416 7,667 Deferred tax liabilities 29,220
29,785 Other liabilities � 10,607 � � � 9,487 � Total Liabilities �
187,210 � � � 264,702 � � Stockholders' Equity: Preferred stock - -
Common stock 1,020 1,015 Additional paid-in capital 958,536 941,265
Treasury stock, at cost (164,923 ) (137,506 ) Accumulated earnings
164,942 113,595 Accumulated other comprehensive income � 52,344 � �
� 45,155 � Total Stockholders' Equity � 1,011,919 � � � 963,524 �
Total Liabilities and Stockholders' Equity $ 1,199,129 � � $
1,228,226 � INTERACTIVE DATA CORPORATION AND SUBSIDIARIES CONDENSED
CONSOLIDATED STATEMENTS OF CASH FLOWS (In Thousands) � � � Six
Months Ended June 30, (Unaudited) � 2008 � � � 2007 � � Cash flows
provided by (used in) operating activities: � Net income $ 65,825 $
54,760 Adjustments to reconcile net income to net cash provided by
operating activities: � Depreciation and amortization 27,065 23,907
Excess tax benefits from stock based compensation (906 ) (2,802 )
Deferred income taxes (1,139 ) (999 ) Amortization of discounts and
premiums on marketable securities, net 279 290 Stock-based
compensation 6,898 6,462 Provision for doubtful accounts 641 1,384
Loss on disposition of fixed assets 181 2,011 Changes in operating
assets and liabilities, net � (17,620 ) � � (16,860 ) NET CASH
PROVIDED BY OPERATING ACTIVITIES $ 81,224 $ 68,153 � Cash flows
provided by (used in) investing activities: � � Purchase of fixed
assets (14,674 ) (13,533 ) Acquisition of business - (25,123 )
Purchase and maturities of marketable securities, net � 41,830 � �
� (7,879 ) NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES
27,156 (46,535 ) � Cash flows provided by (used in) financing
activities: � Purchase of treasury stock (27,417 ) (12,005 )
Proceeds from exercise of stock options and employee stock purchase
plan 8,469 20,269 Common stock cash dividends paid (75,425 )
(23,499 ) Excess tax benefits from stock based compensation � 906 �
� � 2,802 � NET CASH USED IN FINANCING ACTIVITIES (93,467 ) (12,433
) � Effect of exchange rate on cash � 3,079 � � � 2,363 � NET
INCREASE IN CASH AND CASH EQUIVALENTS 17,992 11,548 CASH AND CASH
EQUIVALENTS AT BEGINNING OF PERIOD � 205,470 � � � 152,449 � � CASH
AND CASH EQUIVALENTS AT END OF PERIOD $ 223,462 � � $ 163,997 �
RECONCILIATION OF NON-GAAP MEASURES � � � � � � Revenue Before
Effects of Foreign Exchange, Acquisition-Related Revenue and
Intercompany Eliminations Resulting from Acquisitions (In
thousands) � Three Months Ended Six Months Ended June 30, June 30,
� 2008 � � � 2007 � � Change � 2008 � � � 2007 � � Change Revenue
Institutional Services: Pricing and Reference Data $ 117,822 $
105,638 11.5 % $ 231,626 $ 205,678 12.6 % Real-Time Services 37,884
34,042 11.3 % 75,863 66,465 14.1 % Fixed Income Analytics � 8,094 �
� � 8,196 � � -1.2 % � 16,199 � � � 16,278 � � -0.5 % Institutional
Services total 163,800 147,876 10.8 % 323,688 288,421 12.2 % �
Active Trader Services: eSignal � 22,349 � � � 22,092 � � 1.2 % �
44,172 � � � 44,082 � � 0.2 % Active Trader Services total 22,349
22,092 1.2 % 44,172 44,082 0.2 % � Total revenue 186,149 169,968
9.5 % 367,860 332,503 10.6 % � Effects of foreign exchange
Institutional Services: Pricing and Reference Data (356 ) - -
(1,202 ) - - Real-Time Services (1,882 ) - - (3,747 ) - - Fixed
Income Analytics � 1 � � � - � � - � � - � � � - � � - �
Institutional Services total (2,237 ) - (4,949 ) - � Active Trader
Services: eSignal � (50 ) � � - � � - � � (138 ) � � - � � - �
Active Trader Services total (50 ) - - (138 ) - - � Total effects
of foreign exchange (2,287 ) - - (5,087 ) - - � � Non-GAAP revenue
before effects of foreign exchange 183,862 169,968 8.2 % 362,773
332,503 9.1 % � Revenue � Xcitek Market Data � (785 ) � � - � � - �
� (3,058 ) � � - � � - � � Non-GAAP revenue before effects of
foreign exchange and acquisition-related revenue 183,077 169,968
7.7 % 359,715 332,503 8.2 % � Intercompany eliminations resulting
from Xcitek Market Data acquisition � - � � � (20 ) � - � � - � � �
(76 ) � - � � Non-GAAP revenue before above factors(a) $ 183,077 �
� $ 169,948 � � 7.7 % $ 359,715 � � $ 332,427 � � 8.2 % � (a)
Non-GAAP revenue before above factors is also referred to in this
news release as organic revenue. RECONCILIATION OF NON-GAAP
MEASURES (CONTINUED) � � � � � � Interactive Data Pricing and
Reference Data Revenue Before Effects of Foreign Exchange,
Acquisition-Related Revenue and Intercompany Eliminations Resulting
from Acquisitions (In thousands) � Three Months Ended Six Months
Ended June 30, June 30, � 2008 � � � 2007 � � Change � 2008 � � �
2007 � � Change Interactive Data Pricing and Reference Data revenue
$ 117,822 $ 105,638 11.5 % $ 231,626 $ 205,678 12.6 % Effects of
foreign exchange � (356 ) � � - � � - � � (1,202 ) � � - � � - �
117,466 105,638 11.2 % 230,424 205,678 12.0 % Revenue � Xcitek
Market Data (785 ) - - (3,058 ) - - Intercompany eliminations
resulting from Xcitek Market Data acquisition � - � � � (20 ) � - �
� - � � � (76 ) � - � Non-GAAP revenue before above factors $
116,681 � � $ 105,618 � � 10.5 % $ 227,366 � � $ 205,602 � � 10.6 %
Interactive Data Real-Time Services Revenue Before Effects of
Foreign Exchange (In thousands) � � � � � � Three Months Ended Six
Months Ended June 30, June 30, � 2008 � � � 2007 � Change � 2008 �
� � 2007 � Change Interactive Data Real-Time Services revenue $
37,884 $ 34,042 11.3 % $ 75,863 $ 66,465 14.1 % Effects of foreign
exchange $ (1,882 ) � $ - � - � $ (3,747 ) � $ - � - � Non-GAAP
revenue before effects of foreign exchange $ 36,002 � � $ 34,042 �
5.8 % $ 72,116 � � $ 66,465 � 8.5 % eSignal Revenue Before Effects
of Foreign Exchange (In thousands) � � � � � � Three Months Ended
Six Months Ended June 30, June 30, � 2008 � � � 2007 � Change �
2008 � � � 2007 � Change eSignal revenue $ 22,349 $ 22,092 1.2 % $
44,172 $ 44,082 0.2 % Effects of foreign exchange � (50 ) � � - � -
� � (138 ) � � - � - � Non-GAAP revenue before effects of foreign
exchange $ 22,299 � � $ 22,092 � 0.9 % $ 44,034 � � $ 44,082 � -0.1
% RECONCILIATION OF NON-GAAP MEASURES (CONTINUED) � � � � � �
Revenue by Geography Before Effects of Foreign Exchange (In
thousands) � Three Months Ended Six Months Ended June 30, June 30,
� 2008 � � � 2007 � � Change � 2008 � � � 2007 � � Change Revenue
by Geography North America $ 131,546 $ 121,251 8.5 % $ 258,230 $
237,356 8.8 % Europe 49,933 45,040 10.9 % 100,705 87,876 14.6 %
Asia-Pacific � 4,670 � � � 3,677 � � 27.0 % � 8,925 � � � 7,271 � �
22.7 % Total revenue $ 186,149 � � $ 169,968 � � 9.5 % $ 367,860 �
� $ 332,503 � � 10.6 % � � Three Months Ended Six Months Ended June
30, June 30, � 2008 � � � 2007 � � Change � 2008 � � � 2007 � �
Change North America 70.7 % 71.3 % -0.7 % 70.2 % 71.4 % -1.2 %
Europe 26.8 % 26.5 % 0.3 % 27.4 % 26.4 % 0.9 % Asia-Pacific � 2.5 %
� � 2.2 % � 0.3 % � 2.4 % � � 2.2 % � 0.2 % Total revenue � 100.0 %
� � 100.0 % � 0.0 % � 100.0 % � � 100.0 % � 0.0 % � � Three Months
Ended Six Months Ended June 30, June 30, � 2008 � � � 2007 � �
Change � 2008 � � � 2007 � � Change Revenue - Europe 49,933 45,040
10.9 % 100,705 87,876 14.6 % Effects of foreign exchange � (1,874 )
� � - � � - � � (4,249 ) � � - � � - � Non-GAAP revenue before
effects of foreign exchange $ 48,059 � � $ 45,040 � � 6.7 % $
96,456 � � $ 87,876 � � 9.8 % � Three Months Ended Six Months Ended
June 30, June 30, � 2008 � � � 2007 � � Change � 2008 � � � 2007 �
� Change Revenue - Asia Pacific 4,670 3,677 27.0 % 8,925 7,271 22.7
% Effects of foreign exchange � (414 ) � � - � � - � � (838 ) � � -
� � - � Non-GAAP revenue before effects of foreign exchange $ 4,256
� � $ 3,677 � � 15.7 % $ 8,087 � � $ 7,271 � � 11.2 %
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (CONTINUED) � � � � �
� Total Costs and Expenses Before Effects of Acquisition-Related
Total Costs and Expenses, and Foreign Exchange (In thousands) �
Three Months Ended Six Months Ended June 30, June 30, � 2008 � � �
2007 � Change � 2008 � � � 2007 � Change � Total costs &
expenses $ 136,178 $ 125,988 8.1 % $ 268,949 $ 249,711 7.7 % �
Effects of foreign exchange � (2,354 ) � � - � - � � (4,812 ) � � -
� - � � Total costs & expenses before the effects of foreign
exchange 133,824 125,988 6.2 % 264,137 249,711 5.8 % � � Total
costs & expenses � Xcitek Market Data � (457 ) � � - � - � �
(1,849 ) � � - � - � � Non-GAAP total costs & expenses before
above factors $ 133,367 � � $ 125,988 � 5.9 % $ 262,288 � � $
249,711 � 5.0 % Operating Profit Before Effects of Acquisitions and
Foreign Exchange (In thousands) � � � � � � Three Months Ended Six
Months Ended June 30, June 30, � 2008 � � 2007 � Change � 2008 � �
2007 � Change � Non-GAAP revenue before above factors $ 183,077 $
169,948 7.7 % $ 359,715 $ 332,427 8.2 % � Non-GAAP total costs and
expenses before above factors � 133,367 � � 125,988 � 5.9 % �
262,288 � � 249,711 � 5.0 % � Non-GAAP operating profit from core
businesses $ 49,710 � $ 43,960 � 13.1 % $ 97,427 � $ 82,716 � 17.8
%
Interactive Data (NYSE:IDC)
Historical Stock Chart
From Jun 2024 to Jul 2024
Interactive Data (NYSE:IDC)
Historical Stock Chart
From Jul 2023 to Jul 2024