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May 03, 2015 6:35 PM ET

Media

Company Overview of Markit Ltd.

Company Overview

Markit Ltd. provides financial information services worldwide. It operates through three divisions: Information, Processing, and Solutions. The Information division provides pricing and reference data, indices, and valuation and trading services across multiple asset classes and geographies through direct and third-party distribution channels. Its products and services are used for independent valuations, research, trading, and liquidity and risk assessments. The Processing division offers trade processing solutions for over-the-counter derivatives, foreign exchange, and syndicated loans. The Solutions division provides configurable enterprise software platforms, managed services, and hosted...

Ropemaker Place

4th Floor

25 Ropemaker Street

London,  EC2Y 9LY

United Kingdom

Founded in 2003

3,600 Employees

Phone:

44 20 7260 2000

Key Executives for Markit Ltd.

Markit Ltd. does not have any Key Executives recorded.

Markit Ltd. Key Developments

Markit Ltd. Provides Earnings Guidance for the Year 2015

Markit Ltd. provided earnings guidance for the year 2015. For the year, the company said that it don't expect earnings to be positive in 2015.

Markit Ltd. Announces Consolidated Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Announces Impairment Charges for the Fourth Quarter Ended December 31, 2014

Markit Ltd. announced consolidated unaudited earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported revenue of $271.4 million against $243.8 million a year ago. Operating profit was $45.4 million against $18.9 million a year ago. Profit before income tax was $35.4 million against $14.5 million a year ago. Profit attributable to owners of the parent was $15.7 million against $2.9 million a year ago. Earnings per diluted share were $0.08 against $0.02 a year ago. Adjusted EBITDA was $124.7 million against $108.4 million a year ago, reflecting growth across all three segments. Adjusted earnings were $69.1 million against $65.4 million a year ago. Adjusted earnings per diluted share were $0.37 against $0.37 a year ago. On a constant currency basis, revenue growth was 12.4%, or $30.2 million, for the three months ended December 31, 2014 as compared to the three months ended December 31, 2013. Adjusted earnings per share, diluted was affected by a higher weighted average number of shares, primarily due to option exercises during the period and an increase in the share price compared to the fourth quarter of 2013. For the full year, the company reported revenue of $1,065.1 million against $947.9 million a year ago. Operating profit was $243.4 million against $230.1 million a year ago. Profit before income tax was $220.6 million against $210.7 million a year ago. Profit attributable to owners of the parent was $165.2 million against $139.4 million a year ago. Earnings per diluted share were $0.90 against $0.79 a year ago. Net cash generated from operating activities was $369.9 million against $339.8 million a year ago. Purchases of property, plant and equipment was $23.5 million against $35.0 million a year ago. Purchases of intangible assets were $101.4 million against $95.5 million a year ago. Adjusted EBITDA was $488.2 million against $421.3 million a year ago, due to increases in Adjusted EBITDA across all of segments. Adjusted earnings were $279 million against $248.4 million a year ago. Adjusted earnings per diluted share were $1.51 against $1.41 a year ago. This was due to the improved financial performance discussed above, partially offset by an increase in non-acquisition-related intangible asset amortization, reflecting the continued investment in the development of new products and services and an increase in the tax charge, including a $7.5 million tax charge associated with the out of period deferred tax adjustment. On a constant currency basis, revenue growth was 10.9%, or $102.6 million. The company announced $31.5 million of impairment charges principally related to Markit Analytics within its Solutions segment for the fourth quarter ended December 31, 2014.

Markit Mulls Acquisitions

Markit Ltd. (NasdaqGS:MRKT), which has recorded net income of $15.7 million for fourth quarter ended on December 31, 2015, attributable to shareholders, is looking for acquisitions. Chief Executive Officer, Lance Uggla said, “We will continue to invest in innovative products and service enhancements for our customers, while maintaining a disciplined approach to acquisitions. We believe demand for our products and services will continue to provide us with significant opportunities for profitable long-term growth.”

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