SAN FRANCISCO (AP) _ JMP Group Inc. (JMP) on Wednesday reported a first-quarter loss of $11.7 million, after reporting a profit in the same period a year earlier.
The company, based in San Francisco, said it had a loss of 60 cents per share. Losses, adjusted for non-recurring costs, were 3 cents per share.
The nvestment banking and asset services company posted revenue of $5.3 million in the period. Its revenue net of interest expense was $5.3 million, which fell short of Street forecasts.
In the final minutes of trading on Wednesday, the company's shares hit $2.53. A year ago, they were trading at $3.97.