MIAMI (AP) _ Ladenburg Thalmann Financial Services Inc. (LTS) on Friday reported fourth-quarter net income of $9.6 million, after reporting a loss in the same period a year earlier.
The Miami-based company said it had earnings of 1 cent per share.
The banking and brokerage company posted revenue of $355.1 million in the period. Its revenue net of interest expense was $355.1 million, exceeding Street forecasts.
For the year, the company reported net income of $33.8 million, or less than 1 cent on a per-share basis, swinging to a profit in the period. Revenue was reported as $1.39 billion.
The company's shares closed at $2.81. A year ago, they were trading at $3.60.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LTS at https://www.zacks.com/ap/LTS