Summary
This Form 8-K filing from The Nasdaq Stock Market, Inc. (NDAQ), dated February 8, 2005, provides an early look at the company's fourth quarter and full-year 2004 financial results. Investors should note that while the company reported net income of $7.4 million for Q4 2004 and $11.4 million for the full year, the net income available to common stockholders was a loss of $1.8 million for the full year, translating to a loss per share of $(0.02). This performance was impacted by several significant one-time items. Key adjustments impacting the results include a non-cash charge related to a preferred stock exchange, substantial charges associated with expense reduction initiatives, and a pre-tax gain from the release of a reserve related to the sale of Nasdaq Europe. These items collectively reduced earnings per share. The company also announced its intention to issue a more detailed press release on February 24, 2005, after market close, which will provide complete fourth quarter and full-year 2004 results.
Key Highlights
- 1The Nasdaq Stock Market, Inc. reported net income of $7.4 million for Q4 2004 and $11.4 million for the full year 2004.
- 2Net income available to common stockholders was a loss of $1.8 million for the full year 2004, with a loss per share of $(0.02).
- 3Fourth quarter 2004 net income available to common stockholders was $1.6 million.
- 4Gross margin for Q4 2004 was $121.4 million, and $484.6 million for the full year 2004.
- 5The company incurred a $3.9 million non-cash charge related to preferred stock exchange.
- 6Significant pre-tax charges totaling $25.5 million in Q4 and $62.6 million for the full year were recorded for expense reduction efforts.
- 7A $15.1 million pre-tax gain from discontinued operations related to the Nasdaq Europe divestiture was recognized.