OTC Markets Group: Building The Base For Long-Term Growth
Edison | May 30, 2018 01:58AM ET
Otc Markets Group (OTC:OTCM) continues to gain regulatory recognition for its premium markets, working with state regulators and their national association, while encouraging corporate transparency and facilitating data availability. Management believes that these initiatives will assist it in attracting issuers to its service offerings while enhancing the reputation of the market as a whole. Market Data Licensing is expanding the reach of its diverse range of products, including compliance analytics products. OTC Link ECN continues to add to broker dealer subscribers.
Q118 results
First quarter gross revenues increased by 7% versus Q117, with the strongest growth (+10%) seen in the Corporate Services segment, with contributors including the higher number of OTCQB clients (+2.5%), pricing and accelerated revenue recognition relating to departing OTCQX clients (21 graduated to a national securities exchange vs 11). Market Data Licensing was 7% up, reflecting price increases and take-up of compliance data products; the number of professional data users was little changed. These two divisions account for more than 80% of revenues. The group operating margin was maintained at 33% and pre-tax profits increased by 7%. After a sharply lower tax charge (of 18% vs 28%), fully diluted EPS were up 19% to $0.31 while a maintained quarterly dividend of $0.14 was announced.
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