NEW YORK (AP) _ Pzena Investment Management Inc. (PZN) on Tuesday reported a fourth-quarter loss of $1.5 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the New York-based company said it had a loss of 8 cents. Earnings, adjusted for non-recurring costs, were 20 cents per share.
The asset manager posted revenue of $38.4 million in the period.
For the year, the company reported profit of $8.5 million, or 46 cents per share. Revenue was reported as $150.7 million.
Pzena shares have decreased slightly more than 4% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $8.25, a fall of roughly 6% in the last 12 months.