For detailed information on the adjustments made, and a reconciliation of the non-GAAP financial results included in this press release to the most directly comparable GAAP financial metrics, refer to “Non-GAAP Financial Results,” below. While the Company believes that the non-GAAP financial results included herein are instructive, they should only be considered together with their corresponding GAAP financial metrics.Fourth Quarter 2011 vs. 2010 Net revenues declined by $3.6 million to $61.8 million for the quarter ended December 31, 2011, compared to $65.4 million in the fourth quarter of 2010. This decline was primarily attributable to decreases of $17.8 million in the MBS/ABS & Rates segment and $8.3 million in the Investment Banking segment, partially offset by $20.8 million of ClearPoint revenues, an increase of $1.4 million in the Corporate Credit segment and higher investment gains of $0.5 million resulting from a gain on sale of an investment security, partially offset by the change in value of the Company’s FATV investment. ClearPoint commenced operations at the Company as of January 2011, and consequently did not contribute revenues in 2010. Pre-tax income from continuing operations of $0.4 million for the quarter ended December 31, 2011 improved by $17.2 million compared to pre-tax loss from continuing operations of ($16.8) million, and improved by $9.0 million compared to non-GAAP pre-tax loss from continuing operations of ($8.6) million in the fourth quarter of 2010. Years Ended 2011 vs. 2010 Net revenues increased by $13.2 million to $261.8 million ($259.4 million on a non-GAAP basis) for the year ended December 31, 2011, compared to $248.6 million in the prior year. This increase was primarily attributable to ClearPoint net revenues of $46.9 million, which commenced operations as of January 2011, and higher investment gains of $3.6 million, resulting primarily from the change in value of the Company’s FATV investment and a gain on sale of an investment security. Net revenues also increased as a result of the $2.3 million bargain purchase gain related to the ClearPoint acquisition (excluded from non-GAAP net revenues). Partially offsetting these increases were decreases of $17.2 million in the MBS/ABS & Rates segment, $12.2 million in the Corporate Credit segment and $12.4 million in the Investment Banking segment.