NYFIX, Inc., a trusted provider of innovative solutions that optimize trading efficiency, today reported results for second quarter and first half 2009. Continued growth in order routing channels connected on the NYFIX Marketplace and a lower cost structure translated into improved results over second quarter and first half 2008.
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Revenues were $26.6 million for second quarter 2009, compared to $28.6 million of revenues generated in second quarter 2008. Overall expenses declined 15% during second quarter 2009, compared to second quarter 2008. EBITDA was $(0.7) million for second quarter 2009 reflecting the impact of a lease restructuring charge of $(0.7) million and break-even EBITDA from other operations. EBITDA was $(4.2) million for second quarter 2008, reflecting the impact of integration costs of $(0.6) million, a restructuring charge for the discontinuation of the Fusion OMS business of $(0.4) million, $(0.1) million in costs related to historical stock options matters and $(3.1) million of EBITDA from other operations. On a GAAP basis, the Company's net loss narrowed to $(3.8) million compared to $(6.8) million for second quarter 2008.
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