logo
Share SHARE
FONT-SIZE Plus   Neg

BGC Partners Now Sees Q4 Earnings, Revenues At Low End Of Prior Guidance

BGC Partners Inc. (BGCP) Monday said it now expects fourth-quarter distributable earnings and revenues at the low end of the guidance issued on October 27, 2011, which saw post-tax distributable earnings in the range of $41 million to $46 million, while pre-tax distributable earnings are anticipated between $48 million and $54 million. The company also noted that fully-diluted share count was 288.6 million, as of September 30, 2011.

Distributable earnings revenues, as per the prior guidance, were expected between $350 million and $380 million, with a contribution of $35 million to $45 million from recently acquired Newmark Knight Frank. Consensus of analysts' estimates currently sees fourth-quarter earnings of $0.16 per share on revenues of $370.45 million.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
The month of May saw the FDA greenlight 5 new drugs, including 1 new molecular entity, and surprisingly turn down 1 drug candidate, whose approval was considered a no-brainer by some experts. Lab equipment maker Thermo Fisher Scientific Inc. has agreed to acquire electron microscope maker FEI Co. for about $4.2 billion in cash, the two companies said Friday. Thermo Fisher noted that FEI's electron microscopy platform will complement its own mass spectrometry systems to accelerate advancements in structural biology. While reporting a wider loss for the first quarter, Sears Holdings Corp. said it has decided to "aggressively evaluate" all potential alternatives for its top brands - Kenmore, Craftsman and DieHard or KCD, and the Sears Home Services or SHS businesses. Sears has retained Citigroup Global Markets and LionTree Advisors to assist in its efforts.
comments powered by Disqus
Follow RTT