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#2
Stock Picking / RODM
August 23, 2008, 12:44:45 PM
(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
For comments and feedback: contact [email protected]
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
For comments and feedback: contact [email protected]
#5
Stock Picking / Re: SHZ China Shen Zhou Mining & Resources
April 03, 2008, 09:54:24 PM
watch out shz
#6
Penny Stock Picking / Re: CHND.OB, an undervalued stock
September 28, 2007, 09:03:25 PM
wow! it has doubled
#12
Personal Logs / chart plays
June 12, 2007, 10:58:01 PM
SMIT, low float (1.98M) and low p/e (15.4)
#13
Stock Picking / Re: abp on the move....
May 27, 2007, 03:23:49 PM
that ABP broke through the downstrend line was confirmed
