NEW YORK (
reported a narrower loss than last year due to a loan loss reserve.
The broker reported a fourth quarter net loss of $24 million, or $0.11 loss per share, compared with a net loss of $67 million, or $0.36 loss per share, in the fourth quarter of 2009. The fourth quater results included a $60 million loan loss reserve. For the year the company reported a net loss of $28 million, or $0.13 loss per share, compared to a net loss of $1.3 billion, or $11.85 loss per share in 2009.
For the fourth quarter the company's revenue slid to $517.9 million, from $523.4 million in 2009. The results still beat analysts
of 4 cents a share on revenue of $322 million.
For the full year, the company reported total net revenue of $2.1 billion, compared with $2.2 billion in 2009.
--Written by Maria Woehr in New York.
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