Gain Capital (GCAP) Prelim. Q3 Results Top Expectations

Gain Capital (NYSE: GCAP) announced preliminary results for the third quarter ended September 30, 2014. Net revenues for the third quarter ended September 30, 2014 were a record $102.8 million, an increase of 69% from $60.8 million from a year earlier. Adjusted EBITDA for the period was $26.6 million, an increase of 120% from $12.1 million from a year earlier. Net income was $14.7 million, or $0.32 per diluted share, up 163% from $5.6 million, or $0.14 per diluted share a year earlier. Cash earnings per share, which reflect earnings per share less the impact of depreciation and amortization, purchased intangible amortization and non-cash interest was $0.40 per diluted share, an increase of 124% from a year earlier. The Company will review its full third quarter results on Thursday November 6, 2014 during a conference call scheduled for 8:00 a.m. Details for the conference call with be forthcoming.

The Street is looking for Q3 revs of $75.1 million and loss of 1 cent per share.

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