Piper Jaffray sees Q4 and annual profits decline
Piper Jaffray Companies has announced that in the fourth quarter of 2011 it made a non-GAAP net income of $2.1m, equating to $0.11 per diluted common share.
On a GAAP basis, the quarter saw a net loss of $116.4m ($7.38 per diluted common share), due to the non-GAAP figures excluding a $118.4m after-tax goodwill impairment charge.
In the corresponding period last year the firm enjoyed a more impressive performance, recording net income of $9.4m ($0.49 per diluted common share).
In the immediately preceding quarter (Q3 2011) the firm incurred a net loss of $3.6m ($0.23 per diluted common share).
Quarterly net revenues fell, year-on-year, from a record $176.4m to $99.2m in Q4 2011.
Annual non-GAAP net income came to $16.4m, equating to $0.86 per diluted common share.
On a GAAP basis the firm incurred an annual net loss of $102m ($6.51 per diluted common share).
Both sets of figures are inferior to 2010′s, when the firm made a net income of $24.4m ($1.23 per diluted common share), and net revenues fell by 14% to $458.1m.
Category: Banking News, Financial Reports News
Visited 814 times, 2 so far today
Comments (0)
Trackback URL | Comments RSS Feed
There are no comments yet. Why not be the first to speak your mind.