Management Statement
Auditors’ Report to Shareholders
Consolidated Balance Sheets
Consolidated Statements
of Income
>
Consolidated Statements of Changes in Shareholders’ Equity
Consolidated Statements
of Cash Flows
Notes to Consolidated
Financial Statements
Three-Year Review
 

CONSOLIDATED STATEMENTS OF INCOME

Years ended December 31, 2005 and 2004
(in thousands of dollars, except per share amounts)
2005
2004
Revenue:
Listing
$   87,724
$   75,022
Trading and related
125,532
99,629
Market data
67,430
58,793
Business services (note 22)
7,910
8,367
Other
1,368
1,619
289,964
243,430
Expenses:
Compensation and benefits
72,510
73,639
Information and trading systems
17,443
15,798
General and administration
35,762
42,118
Amortization
13,477
12,976
139,192
144,531

Income from operations
150,772
98,899
Loss from investment in affiliate
(693)
(1,210)
Investment income
6,876
4,772
Income before income taxes
156,955
102,461
Income taxes (note 21)
53,602
33,971
Net income
$ 103,353
$   68,490
Earnings per share (note 20):
Basic
$ 1.52
$ 1.01
Diluted
$ 1.51
$ 1.00

See accompanying notes to consolidated financial statements.