Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Cowen Group Slips To Loss In Q4

Cowen Group Inc. (COWN: Quote) 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.

Click here to receive FREE breaking news email alerts for Cowen Group Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Stocks showed a lack of direction over the course of the trading day on Friday after failing to sustain an initial upward move. Despite the choppy trading, the Dow once again managed to end the session at a new record closing high. The major averages turned in a mixed performance on the day. President Barack Obama delivered a statement Thursday evening thanking members of Congress for voting to approve legislation granting the U.S. military the authority to train and arm moderate Syrian rebels fighting against the terrorist group known as the Islamic State. While the Conference Board released a report on Friday showing a continued increase by its index of leading U.S. economic indicators in the month of August, the pace of growth showed a significant slowdown compared to the previous month.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.