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Cowen: 4Q Earnings Snapshot

NEW YORK (AP) _ Cowen Group Inc. (COWN) on Thursday reported fourth-quarter net income of $5.1 million, after reporting a loss in the same period a year earlier.

The company, based in New York, said it had earnings of 11 cents per share. Earnings, adjusted for non-recurring costs, were 28 cents per share.

The financial services company posted revenue of $259.9 million in the period. Its revenue net of interest expense was $259.9 million, which topped Street forecasts.

For the year, the company reported net income of $42.8 million, or $1.17 per share, swinging to a profit in the period. Revenue was reported as $966.9 million.

Cowen shares have increased 14 percent since the beginning of the year. The stock has increased 24 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on COWN at https://www.zacks.com/ap/COWN