Global Brokerage, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2016
March 20, 2017 at 06:00 am EDT
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Global Brokerage, Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2016. For the quarter, total net revenues were $80,593,000 against $66,994,000 a year ago. Operating income was $11,476,000 against loss of $4,138,000 a year ago. Income from continuing operations before income taxes was $36,545,000 against loss of $126,969,000 a year ago. Income from continuing operations was $35,826,000 against loss of $126,551,000 a year ago. Net loss attributable to Global Brokerage, Inc. was $359,000 or $0.06 per basic and diluted share against $104,950,000 or $19.29 per basic and diluted share a year ago. Adjusted EBITDA was $30,802,000 against $12,613,000 a year ago.
For the year, total net revenues were $284,056,000 against $402,278,000 a year ago. Operating loss was $1,168,000 against $151,621,000 a year ago. Income from continuing operations before income taxes was $162,570,000 against loss of $633,305,000 a year ago. Income from continuing operations was $161,793,000 against loss of $814,503,000 a year ago. Net income attributable to Global Brokerage, Inc. was $70,643,000 or $12.60 per basic and diluted share against loss of $553,929,000 or $108.89 per basic and diluted share a year ago. Adjusted EBITDA was $58,379,000 against $38,247,000 a year ago.
Global brokerage, Inc., formerly FXCM Inc. (FXCM), is engaged in providing online foreign exchange (FX) trading, contract for difference (CFD) trading, spread betting and related services. The Company owns over 50% of FXCM Group, LLC (FXCM Group). FXCM Group is a holding company of Forex Capital Markets LLC, (FXCM US), Forex Capital Markets Limited, inclusive of all EU branches (FXCM UK), FXCM Australia Pty. Limited, (FXCM AU). The Company focuses on providing global traders with access to market by offering trading tools, hiring trading educators. In addition, FXCM offers educational courses on FX trading and provides trading tools data and resources. FXCM Pro provides retail brokers, small hedge funds and market banks access to wholesale execution and liquidity, as well as providing high and medium frequency funds access to prime brokerage services through FXCM Prime.