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.
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by RTT Staff Writer
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