Piper Jaffray Companies (PJC) swung to a net loss for the quarter ended Dec. 31, 2016. The company has made a net loss of $36.98 million, or $ 3 a share in the quarter, against a net profit of $13.27 million, or $0.88 a share in the last year period. On the other hand, adjusted net income for the quarter stood at $27.12 million, or $1.75 a share compared with $21.15 million or $1.40 a share, a year ago.
Revenue during the quarter grew 12.72 percent to $222.46 million from $197.36 million in the previous year period. Non-interest income for the quarter rose 7.44 percent over the last year period to $208.04 million.
"This was a year of remarkable performances across the firm," stated chairman and chief executive officer Andrew S. Duff, "highlighted by record results in Advisory and Public Finance which combined to produce record revenues in the fourth quarter and full year 2016. Strong execution by our new Energy and Financial Institutions groups contributed to the exceptional 2016 results. The growth and diversification of our business has enabled us to initiate a quarterly dividend for the first time in our firm's history."
Return on average equity was negative at 2.80 percent in the quarter against a positive 6.40 percent in the last year period.
Book value per share was $61.27 for the quarter, up 4.08 percent or $2.40 compared to $58.87 for the same period last year.
Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
