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Cowen posts 1Q profit

NEW YORK (AP) _ Cowen Group Inc. (COWN) on Thursday reported first-quarter net income of $3 million, after reporting a loss in the same period a year earlier.

The company, based in New York, said it had earnings of 5 cents per share. Earnings, adjusted for non-recurring costs, came to 19 cents per share.

The financial services company posted revenue of $115 million in the period.

Cowen shares have dropped 13 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $13.50, a decline of 12 percent in the last 12 months.

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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

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Keywords: Cowen Group, Earnings Report