International Securities Exchange First Quarter 2006 ... - Ise.com

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Appendix 1. DIAMONDS® is a registered trademark of Dow Jones & Company, Inc. ("Dow Jones") for securities issued by the Diamonds® Trust, Series 1 and has been licensed for use for certain purposes by Dow Jones to PDR Services Corporation ("PDR") and the American Stock Exchange LLC ("Amex") pursuant to a license agreement with Dow Jones. DIAMONDS and options which have DIAMONDS as their sole underlying interest ("DIAMONDS Options") are not sponsored, endorsed, sold or promoted by Dow Jones. Dow Jones, PDR, and Amex have not licensed or authorized ISE to (i) engage in the creation, listing, provision of a market for trading, marketing, and promotion of DIAMONDS Options or (ii) to use and refer to the DIAMONDS® trademark in connection with the listing, provision of a market for trading, marketing, and promotion of DIAMONDS Options or with making disclosures concerning DIAMONDS Options under any applicable federal or state laws, rules or regulations, and do not sponsor, endorse, or promote such activity by ISE. ISE is not affiliated in any manner with Dow Jones, PDR or Amex. 2. The International Securities Exchange analyzes its performance using non-GAAP results that exclude certain non-operating charges that were incurred in connection with the Company’s plan to reorganize into a holding company structure as well as expenses related to its secondary offering. These non-GAAP measures should be considered in context with GAAP results. A reconciliation of GAAP results to non-GAAP results can be found in the Company’s earnings release dated April 27, 2006.
GAAP to Non-GAAP Reconciliation Three Months Ended March 31, March 31, 2006 2005 GAAP Transaction fees, as reported $ 36,867 $ 26,714 Less activity remittance fees 4,345 2,702 Less license fees 1,625 931 Net transaction fees, as adjusted 30,897 23,081 GAAP Total expenses, as reported $ 21,028 $ 17,157 Less ISE Stock Exchange direct expenses 900 117 Total expenses excluding ISE Stock Exchange expenses 20,128 17,040 GAAP Income before provision for income taxes, as reported 22,157 16,417 Less ISE Stock Exchange direct expenses 900 117 Income before provision for income taxes excluding ISE Stock Exchange expenses 23,057 16,534 GAAP Net income, as reported $ 12,418 $ 8,861 Less ISE Stock Exchange direct expenses, net of tax 495 64 Net income excluding ISE Stock Exchange expenses 12,913 8,925 GAAP Diluted earnings per share, as reported $ 0.32 $ 0.25 Less ISE Stock Exchange direct expenses, net of tax 0.01 0.01 Diluted earnings per share excluding ISE Stock Exchange expenses $ 0.33 $ 0.26 Gross Margin 41,574 33,252 GAAP pre-tax margins, as reported 53.3% 49.4% Pre-tax margins excluding ISE Stock Exchange expenses 55.5% 49.7%
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Page 3 and 4: First Quarter 2006 Highlights • R
Page 5 and 6: Premium Products Average Daily Volu
Page 7 and 8: Summary Financial Performance ($MM)
Page 9 and 10: Net Revenues Revenues ($MM) Q1 06 Q
Page 11 and 12: Summary Cash Flow ($MM) Net Income
Page 13: Summary • Delivered strong financ

International Securities Exchange First Quarter 2006 ... - Ise.com

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