FXCM, an online provider of foreign exchange, trading and related services, has posted 11% fall in revenues under US GAAP of $91.7m for the second quarter of 2012 compared to $103.3m during the second three months of 2011.
Adjusted Pro Forma EBITDA for the latest quarter period stood at $21m, down by 26% against $28.5m during the comparable quarter earlier year.
Adjusted Pro Forma Net Income slashed by 50% to $7.9m for the second quarter 2012, versus $15.6m during the same period last year.
The company said that its second quarter 2012 results under US GAAP included $15.8m of one-time expenses, including $11.9m pertaining to employee severance and the renegotiation of certain employment contracts in its institutional foreign exchange ("FX") and retail businesses.
FXCM chief executive officer Drew Niv said FXCM has always been strong with larger retail clients as they are attracted to its brand, agency execution model and platform.
Client equity had increased by 20% from just year-end 2011 to $1.3bn and increased by 50% from June 30, 2011, Niv added.