This Day On The Street
Continue to site
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

IFMI Reports Fourth Quarter And Full Year 2012 Financial Results

Full Year Adjusted Operating Income of $7.5 million, or $0.47 per Diluted Share

Fourth Quarter Adjusted Operating Income of $4.3 million, or $0.26 per Diluted Share

Fourth Quarter Net Income of $4.1 million, or $0.26 per Diluted Share

Board Declares Dividend of $0.02 per Share

PHILADELPHIA and NEW YORK, Feb. 28, 2013 (GLOBE NEWSWIRE) -- Institutional Financial Markets, Inc. (NYSE MKT:IFMI), a financial services firm specializing in credit-related fixed income investments, today reported financial results for its fourth quarter and year ended December 31, 2012.

Adjusted operating income was $4.3 million, or $0.26 per diluted share, for the three months ended December 31, 2012, compared to adjusted operating income of $0.3 million, or $0.02 per diluted share, for the three months ended December 31, 2011, and adjusted operating income of $4.4 million, or $0.27 per diluted share, for the three months ended September 30, 2012. Adjusted operating income was $7.5 million, or $0.47 per diluted share, for the year ended December 31, 2012, compared to adjusted operating income of $3.5 million, or $0.22 per diluted share, for the year ended December 31, 2011. Adjusted operating income is not a measure recognized under generally accepted accounting principles ("GAAP"). See Note 1 on page 4.

The Company noted that during the fourth quarter, net trading revenue increased $4.5 million, or 33%, from the prior quarter and increased $2.5 million, or 16%, from the year-ago quarter, despite the Company having substantially reduced its headcount and compensation expenses in its capital markets businesses.

"We are pleased with our performance in the fourth quarter, and believe that our full year results are especially meaningful when considering the adverse conditions we have worked to overcome, particularly in the first half of 2012," said Daniel G. Cohen, Chairman and Chief Executive Officer of IFMI. "The fourth quarter was our second profitable quarter in a row at both the adjusted operating income and net income levels. In addition, we continued to work hard to control both our compensation and non-compensation costs across all of our operating segments. While market conditions remain difficult, we are encouraged by the progress made throughout our diverse operating units and our focus remains on increasing value for our shareholders."

1 of 6

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
Only $9.95
14-Days Free
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
SYM TRADE IT LAST %CHG

Markets

DOW 18,016.55 -109.57 -0.60%
S&P 500 2,107.52 -13.27 -0.63%
NASDAQ 5,068.9930 -28.9830 -0.57%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs