NYSE Euronext reported a net loss of US$1.3 billion for the fourth quarter of 2008, and US$738 million for the full year.

The net loss for the fourth quarter and full year includes a pre-tax US$1.6 billion non-cash charge, primarily for the impairment of certain goodwill and indefinite-lived intangible assets related to the merger of NYSE Group and Euronext. The charge adjusts the carrying values of goodwill and indefinite-lived intangible assets to their estimated fair values.

“The impairment was driven primarily by adverse equity market conditions that have caused a material decline in industry market multiples in the latter part of 2008,” it said, adding that the charge has no impact on debt covenants, cash flows, or normal day-to-day business operations.

Pro-forma non-GAAP net income in the fourth quarter was US$137 million, and for the full year it was US$763 million, up 9% compared to 2007. Gross revenues were up 21% in the fourth quarter and 19% for the full year, driven by increased volumes across all venues and pricing changes in the U.S. and European cash markets. Diluted earnings per share in the fourth quarter declined by 20%, compared with the prior year, including a negative impact for currency fluctuations and planned investments in NYSE Liffe U.S. and NYSE Amex, which was operating at a loss for the fourth quarter.

“During this period of unprecedented market dislocation and uncertainty, we continue to focus on executing and delivering against our key strategic initiatives which will drive our long-term growth,” said Duncan Niederauer, CEO, NYSE Euronext. “We recorded revenue growth, grew pro forma earnings per share by 9% in 2008, continued to reduce fixed operating expenses as a result of our non-technology and technology-related savings initiatives and we implemented a new NYSE market model which has stabilized our market share in the U.S.”

He also noted that, in light of challenging market conditions, it is not executing stock buybacks but it will maintain its dividend. “With these two actions, we are attempting to strike the right balance between capital management and shareholder value,” he added.