For the fourth quarter of 2012, net revenues from continuing operations were $140.9m, compared to $93.1m in the fourth quarter of 2011, and $131.5m in the third quarter of 2012.
On a GAAP basis, net loss from continuing operations in the year-ago period was $116m, or $7.35 per diluted common share. In the third quarter of 2012, net income from continuing operations was $14.5m, or $0.82 per diluted common share.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
For the quarter ended 31 December 2012, net income, including continuing and discontinued operations, was $11.8m, or $0.67 per diluted common share, compared to non-GAAP net income of $2.1 m, or $0.11 per diluted common share, in the year-ago period, and $19.7m, or $1.11 per diluted common share in the third quarter of 2012.
For the fourth quarter of 2012, compensation and benefits expenses were $87.4 million, up 44% and 12% compared to the fourth quarter of 2011 and the third quarter of 2012, respectively, due to improved financial results.
Piper Jaffray chairman and CEO, Andrew Duff, said: " We produced solid results for the quarter and the year despite adverse market conditions facing several of our businesses."
"Compared to the prior quarter, strong performance in M&A and public finance, and improved results in equities, more than offset weaker results in our fixed income trading businesses, while our equity capital raising and asset management businesses were flat sequentially," Duff said.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
