Quarterly gross revenues of $12.9 million represent 19 percent growth from 3Q14 while the 37 percent profit margin was higher than last year’s 34. Net income was $3.1 million or $0.26 per diluted share.
As a result of the strong showing the company’s board declared a special cash dividend of $0.60 per share and a quarterly cash dividend of $0.14 per share.
Twenty OTC companies graduated to a national exchange during the quarter.
OTC Markets Group President and CEO R. Cromwell Coulson said they continue to provide increasing value to growing firms.
“During the third quarter, we continued to execute our strategy of delivering elegant, reliable and cost-effective public trading markets and information services that provide unique value for broker-dealers, market data users, and corporate clients. The OTCQB Venture Market has completed the initial phase of its transformation into a better regulated, more transparent, world-leading venture market for developing companies.”
That value proposition includes maintaining a high standard for participation, Mr. Coulson added.
“We also recently proposed amended OTCQX Rules that will strengthen financial standards, enhance our current rules that prohibit penny stocks from qualifying for OTCQX by adding a continuing penny stock prohibition, and introduce corporate governance standards for U.S. companies based on common sense, best practices that we believe are already followed by the majority of OTCQX U.S. companies. These amendments will allow investors, regulators and market participants to more easily identify our strongest and most investor-focused companies and further differentiate the OTCQX Best Market.”