CME posts 42% first income net

Chicago Mercantile Exchange Holdings Inc. posted a 42% increase in net income during the first quarter, as electronic trading volume grew sharply.
Net income during the first quarter increased to $130 million, or $3.69 per share, compared to $91.4 million, or $2.61 per share during the year-ago period.
Revenues hit a record $332.3 million, compared to $251.7 during the first quarter of 2006.
Analysts surveyed by Thomson Financial had expected earnings of $3.62 per share on revenue of $334.4 million.
Daily trading volume reached a record 6.5 million contracts during the first-quarter, a 30% increase from 5.1 million in the year-ago period.
Trading on its CME Globex electronic trading platform grew 40% to a record 4.8 million contracts per day during the first-quarter from 3.4 million per day during the first three months of 2006.
Electronic trading volume accounted for 75% of total CME volume in the quarter.
“During the first quarter, we surpassed volume records in all our products lines, leading to the strongest top-line, quarter-over-quarter growth since 2004 and resulting in record earnings and cash flow,” said CME executive chairman Terry Duffy, in a statement.