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(RTTNews) -  Rodman & Renshaw Capital Group, Inc. (RODM: News ) reported a surge in second quarter profit from last year on higher revenues and lower expenses. Subsequent to the news, Rodman & Renshaw stock rose 10.47%.

Michael Lacovara, Chief Executive Officer said, "Despite the challenging environment, we achieved record revenue driven by particular strength within our core healthcare sector."

Second quarter net income for the New York-based company was $6.00 million, up from $3.21 million in the prior-year quarter. Earnings per share, however, were flat at $0.18.

On a non-U.S. GAAP basis, including after-tax amortization of the pre-Offering restricted stock and option awards in the period, net income for the quarter was $6.59 million or $0.20 per share.

On average, three analysts polled by First Call/Thomson Financial expected the company to earn $0.03 per share for the quarter.

Revenues for the quarter increased to $29.53 million from $26.31 million in the prior-year quarter. Revenues from investment banking and interest and other income decreased 7.7% and 19% respectively, while commissions revenue and conference fees increased 8.01% and 17.23% respectively from the prior-year quarter.

Principal transactions revenues for the quarter were $4.44 million compared to negative revenues of $0.44 million in the year-ago quarter.

Operating income was $10.17 million, up from $4.21 million in the year-earlier quarter. Operating expenses decreased to $19.37 million from $22.10 million in the comparable quarter last year.

For the six-month period, net income was $7.10 million or $0.21 per share, down from $10.03 million from $0.45 per share from the year-ago quarter. Revenues decreased to $44.71 million from $45.93 million in the prior-year period.

RODM is currently trading at $1.90, up $0.18 or 10.47%, on a volume of 92,244 shares.

by RTT Staff Writer

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RODM: Q2 EPS 18c vs 16c Beats 5c Est
Tuesday , August 12, 2008 08:07ET

QUARTER RESULTS
Rodman & Renshaw Capital Group, Inc. (RODM) reported Q2 results ended June 2008. Q2 Revenues were $29.53M; +12.24% vs yr-ago; BEATING revenue consensus by +89.90%. Q2 EPS was 18c; +12.50% vs yr-ago; BEATING earnings consensus by +260.00%.

Q2 RESULTS      Reported      Year-Ago     Y/Y Chg      Estimate    SURPRISE
----------  ------------  ------------  ----------  ------------  ----------
Revenues:        $29.53M       $26.31M     +12.24%       $15.55M     +89.90%
----------  ------------  ------------  ----------  ------------  ----------
EPS:                 18c           16c     +12.50%            5c    +260.00%
----------  ------------  ------------  ----------  ------------  ----------

RODM: Volume Spike; 20% > 20-adsv, Stock +6.98%
Friday , August 22, 2008 12:25ET

This is the 1st VOLUME alert for RODM in the past 7 calendar days.

Trading for Rodman & Renshaw Capital Group, Inc. (NASDAQ NM: RODM) has been heavier than usual in today's session. By 12:25 ET, the stock had already traded 95,449 shares via 175 trades. The cumulative volume is 20.28% above its 20-day average of 79,358. Normally the stock experiences around 131 individual trades per session.

So far, today's volume surge has caused a net rise in RODM's stock price. At the time of this alert, the stock was trading at $2.300, up $0.150 (+6.98%).

One year ago, the Company's shares closed at $8.000. The price has declined more than 71 percent since then.

Over the last 10 trading session RODM has traded in a range between $1.580 and $2.990 and is currently trading 72.94% below its 52-week high of $8.500 set on September 12,2007 and 74.24% above its 52-week low of $1.320 from July 16,2008.

In the previous 3 sessions, RODM trading has displayed a mixed trend. Closing results have been as follows:

August 21, 2008 --- closed at $2.150 up $0.100 (+4.88%) on 49,150 shares
August 20, 2008 --- closed at $2.050 down $0.010 (-0.49%) on 66,700 shares
August 19, 2008 --- closed at $2.060 down $0.090 (-4.19%) on 79,140 shares