This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

IFMI Reports Fourth Quarter And Full Year 2010 Financial Results

Institutional Financial Markets, Inc. (NYSE AMEX: IFMI), a leading investment firm specializing in credit-related fixed income investments, today reported financial results for the quarter and year ended December 31, 2010.

Financial Highlights

  • Adjusted operating income was $4.7 million, or $0.30 per diluted share, for the three months ended December 31, 2010, as compared to adjusted operating income of $0.6 million, or $0.06 per diluted share, for the three months ended December 31, 2009. Adjusted operating income was $25.4 million, or $1.62 per diluted share, for the year ended December 31, 2010, as compared to adjusted operating loss of ($2.0) million, or ($0.21) per diluted share, for the year ended December 31, 2009. Adjusted operating income is not a measure recognized under generally accepted accounting principles. See Note 1 on page 3.
  • Revenue was $24.9 million for the three months ended December 31, 2010, as compared to revenue of $22.2 million for the three months ended December 31, 2009. Revenue was $125.6 million for the year ended December 31, 2010, as compared to revenue of $84.1 million for the year ended December 31, 2009.
  • Net income was $3.6 million for the three months ended December 31, 2010, as compared to net loss of ($1.0) million for the three months ended December 31, 2009. Net income was $11.2 million for the year ended December 31, 2010, as compared to net loss of ($11.8) million for the year ended December 31, 2009.
  • Net income attributable to IFMI was $2.6 million, or $0.25 per diluted share, for the three months ended December 31, 2010, as compared to net loss of ($1.0) million, or ($0.10) per diluted share, for the three months ended December 31, 2009. Net income attributable to IFMI was $7.6 million, or $0.73 per diluted share, for the year ended December 31, 2010, as compared to net loss of ($11.7) million, or ($1.21) per diluted share, for the year ended December 31, 2009.

Total Equity and Dividend Declaration

  • At December 31, 2010, total equity was $89.5 million, as compared to $77.7 million as of December 31, 2009.
  • At December 31, 2010, diluted book value per share was $5.68, as compared to $4.98 as of December 31, 2009.
  • The Company’s Board of Directors has declared a dividend of $0.05 per share. The dividend will be payable on March 28, 2011 to stockholders of record on March 14, 2011.

“We are pleased with our results for the fourth quarter and full year, which included significant revenue and income growth and an increase in diluted book value per share,” said Daniel G. Cohen, Chairman and Chief Executive Officer of IFMI. “Our capital levels remain strong and we continue to maintain a healthy balance sheet, enabling us to once again provide tangible stockholder value through a dividend.”

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,203.76 -84.87 -0.46%
S&P 500 2,105.45 -11.94 -0.56%
NASDAQ 4,972.3270 -35.7690 -0.71%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs