UPDATE 2-Investment Technology Q4 profit tops Street view

jueves 29 de enero de 2009 19:14 CET

* Q4 EPS $0.66, vs estimate of $0.61

* Total revenue fell 3 percent

* Does not see reduction in headcount in '09

* Shares rise as much as 7 percent (Adds CEO comments, details from conference call, share movement)

By Sweta Singh

BANGALORE, Jan 29 (Reuters) - U.S. agency broker Investment Technology Group (ITG.N: Cotización) reported quarterly profit above analysts' average estimate and said it does not expect to reduce headcount in 2009, sending its shares up 7 percent.

The company also expects to pull a tight thread over its expenses in 2009 and said it had cut/postponed several development projects, including wealth management programs, that showed little near-term visibility, Chief Executive Bob Gasser said in a conference call with analysts.

Net income for the fourth quarter was $28.7 million, or 66 cents a share, compared with $30.0 million, or 68 cents a share, a year ago, the New York-based electronic trading firm said.

Included in the quarter's operating results were charges related to severance costs, write-downs of capitalized costs and unrealized loss on NYSE Euronext NYX.N, it said.   Continuación...