Daily Banking Industry News
Saturday 20th of February 2010

Banking Sectors:

By company:

By organisation:

New!

Also see:

February 3, 2010

Lazard announces Q4 and annual results

by Richard Kilner

Story link: Lazard announces Q4 and annual results

Lazard Ltd. has announced its financial results for Q4 and the full-year 2009.

The bank enjoyed its third best quarter ever in terms of revenue, with operating revenue of $514.4m for the quarter and $1,617.6m for the year.

However, on a US GAAP basis, the firm did incur a net loss of $142.4m, or $1.64 per share, for Q4, a downward shift compared to the same quarter last year when a net income of $38m was recorded.

In the third quarter the firm made net profits of $52.5m, equating to $0.41 per diluted share.

For the year, Lazard made a net loss of $130.2m, or $1.68 per share, another decline from 2008 when profits of $3.1m were made.

On a fully exchanged basis the firm made a 2009 net profit of $11.1m, although Q4 was still in the red with a net loss of $54.9m.

Chairman and CEO Kenneth M. Jacobs described the firm’s very strong revenue was an indication of the strength of its strategic approach.

Jacobs added that the firm took an extra hit from compensation in the fourth quarter, before going to express his confidence in the firm’s long term prospects and potential for growth.

 

Add to Bookmarks:

ADD TO NETSCAPE     ADD TO DEL.ICIO.US     ADD TO DIGG     ADD TO FURL

ADD TO STUMBLEUPON     ADD TO YAHOO MYWEB     ADD TO GOOGLE     ADD TO SPURL


Related stories to: Lazard announces Q4 and annual results

Lazard announces Q3 profits  ...

Lazard appoint new chairman and CEO  ...

Rohatyn returns to Lazard  ...

Lazard record Q2 profits  ...

Lazard appoints International vice chairman  ...

No Comments »

No comments yet.

Leave a comment


Previous: « Nationwide sees consumer confidence rise
Next: FSA issues ultimatum to investment banks »

Visited 415 times, 1 so far today

Investment Banking News


Savings & Investment News




Financial Reports News