This Day On The Street
Continue to site
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

Piper Jaffray Companies Announces 2013 Second Quarter Results

Piper Jaffray Companies (NYSE: PJC) today announced that for the quarter ended June 30, 2013, net income from continuing operations was $4.4 million, or $0.25 per diluted common share. These results compared to net income from continuing operations of $10.8 million, or $0.58 per diluted common share, in the year-ago period. The year-ago results included a $7.1 million, or $0.35 per diluted common share, tax benefit resulting from the resolution of a state income tax matter and a $2.2 million after-tax, or $0.12 per diluted common share, restructuring charge for severance and occupancy-related charges. In the first quarter of 2013, net income from continuing operations was $10.7 million, or $0.60 per diluted common share.

For the second quarter of 2013, net revenues from continuing operations were $99.8 million, compared to $103.1 million in the year-ago period and $109.5 million in the first quarter of 2013.

For the quarter ended June 30, 2013, net income, including continuing and discontinued operations, was $2.5 million, or $0.15 per diluted common share, compared to net income of $6.9 million, or $0.37 per diluted common share, in the year-ago period, and $10.1 million, or $0.57 per diluted common share, in the first quarter of 2013. Discontinued operations includes the operating results of our Hong Kong capital markets business, which we have shut down, and FAMCO, a division of our asset management segment. On April 30, 2013, the firm completed the sale of FAMCO under a previously announced definitive agreement.

“We experienced extremely challenging conditions in the fixed income markets this quarter which adversely impacted our Fixed Income Brokerage business and our results for the quarter. Outside of that business, most of our businesses performed well this quarter led by Asset Management and capital raising in Public Finance and Equities” said Andrew S. Duff, chairman and chief executive officer. “We made significant strategic progress during the quarter with our acquisitions of Seattle Northwest in public finance, and Edgeview Partners in M&A, both of which closed in the past week.”

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
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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $92.72 -0.56%
FB $119.49 1.43%
GOOG $711.12 1.38%
TSLA $214.93 1.61%
YHOO $37.23 0.79%


Chart of I:DJI
DOW 17,740.63 +79.92 0.45%
S&P 500 2,057.14 +6.51 0.32%
NASDAQ 4,736.1550 +19.0610 0.40%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs