New York-based diversified firm Leucadia National Corp. (LUK) Thursday reported a substantial increase in second-quarter profit, resulting from a significant adjustment credited to income tax expenses. Second-quarter revenues also increased from the prior-year quarter.
Leucadia reported net income of $186.78 million or $0.76 per share for the second quarter compared to $26.30 million or $0.12 per share in the second quarter of 2007.
Results for the quarter included an income tax credit of $247.71 million, reducing the deferred tax valuation allowance.
Revenues and other income for the quarter improved to $337.55 million from $344.00 million in the year-ago quarter. Net securities gain was $19.05 million compared to $50.24 million in the prior-year quarter.
For the first half of 2008, the company recorded net income of $90.95 million or $0.39 per share compared to $34.67 million or $0.16 per share in the corresponding period last year. Revenues and other income for the six-month period advanced to $662.40 million from $541.19 million in the same period last year.
LUK ended Thursday's regular trading at $43.25, down $1.59 or 3.55%, on a volume of about 1.04 million shares.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.