Quick Facts
FONT-SIZE Plus   Neg
Share SHARE
mail  E-MAIL

Cowen Group Slips To Loss In Q4

3/2/2012 10:03 AM ET

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 are turning in a lackluster performance in morning trading on Monday after showing a strong move to the upside last week. The major averages have been unable to sustain any significant moves, bouncing back and forth across the unchanged line. Leading U.S. economic indicators showed continued improvement in the month of March, according to a report released by the Conference Board on Monday, with the leading economic index rising by slightly more than expected. The Conference Board said its leading economic index rose by 0.8 percent in March after climbing by 0.5 percent in February. Healthcare products maker Kimberly-Clark Corp. (KMB) said that its first-quarter net income attributable to the company rose to $538 million from the prior year's $531 million, with earnings per share improving to $1.41 from $1.36 last year. Adjusted earnings for the quarter were $1.48 per share,...
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.