logo
Share SHARE
FONT-SIZE Plus   Neg

Cowen Group Slips To Loss In Q4

Cowen Group Inc. (COWN) reported that its fourth-quarter net loss attributable to stockholders was $79.90 million or $0.21 per share, compared to net income of $4.11 million in the same quarter last year.

Economic Loss excluding certain non-cash items was $25.53 million, compared to Economic Income of $12.45 million last year.

Revenues for the quarter declined to $49.53 million from $69.73 million in the prior year quarter. Total Economic Income revenue for the fourth quarter 2011 was $70.2 million, a 31% decrease compared to $101.0 million in the fourth quarter 2010. The decline in Economic Income revenue was primarily the result of a decrease in investment banking fees and brokerage revenues, partially offset by an increase in management fees.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Microsoft Corp. (MSFT) has cut the price of Xbox One bundles by $50 ahead of next month's Electronic Entertainment Expo. The 500GB Xbox One bundled with either Quantum Break, Gears of War: Ultimate Edition, The Lego Movie Videogame, Forza Motorsport 6, Rise of the Tomb Raider, or Rare Replay is now... Red-hot Las Vegas beat other big cities to become the best and most budget-friendly summer travel destination this year, according to financial website WalletHub. WalletHub's Shares of Allergan plc rose in early trades Tuesday after billionaire investor Carl Icahn said he recently acquired a "large position" in the Botox maker and was very supportive of CEO Brent Saunders. Icahn did not disclose details of the stake he acquired in Allergan.
comments powered by Disqus
Follow RTT