earned $21 million in its fourth quarter, as revenue fell in all its major business lines compared with last year.
The St. Louis-based brokerage and investment bank earned $21 million, or 26 cents a share, for the quarter ended Feb. 28, compared with a loss of $37 million, or 46 cents a share, a year earlier, a period that included a big restructuring charge. Analysts had expected 28 cents a share in the latest quarter. Excluding charges, earnings for last year's quarter were $30 million, or 37 cents a share.
Total revenue was $514 million, compared with $582 million in the year-earlier period. The company said commission revenue and asset management fees decreased 11% and 12%, respectively, compared with the year before. The company's expenses also fell, primarily reflecting lower compensation costs due to lower trading volume and firings.
The shares were recently up 1% to $27.30.