Raymond James Financial Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended December 31, 2011; Reports Net Charge-Offs; Provides Earnings Guidance for the Second Quarter of 2012
January 25, 2012 at 10:30 pm
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Raymond James Financial Inc. reported unaudited consolidated earnings results for the first quarter ended December 31, 2011. For the period, the company reported income including non-controlling interests and before provision for income taxes of $104.6 million, net income attributable to the company of $67.3 million or $0.53 diluted per share on total revenues of $798.8 million against income including non-controlling interests and before provision for income taxes of $126.7 million, net income attributable to the company of $81.7 million or $0.65 diluted per share on total revenues of $830.3 million for the same period a year ago. The company reported non-GAAP net income of $67.3 million or $0.53 non-GAAP diluted per share against non-GAAP net income of $81.7 million or $0.65 non-GAAP diluted per share for the same period a year ago. ROE for the quarter was about 10.3%. The book value per share ended the quarter at $21.34. Tangible book value ended at $20.76.
The company reported net charge-offs of $5.7 million for the first quarter ended December 31, 2011 against $12.3 million for the same period a year ago.
Despite uncertain market conditions, the company anticipates improving results for the second quarter of 2012.
Raymond James Financial, Inc. specializes in financial services. Revenues (including intragroup) by activity break down as follows:
- investment services (76.9%): securities brokerage, stock exchange intermediation, intervention on equity, interest rate and foreign exchange markets, derivatives, trading services, etc. for private and institutional clients;
- retail banking and merchant banking (15.7%);
- asset management (6.9%): USD 196.4 billion in assets under management at the end of September 2023;
- other (0.5%).
Revenues are distributed geographically as follows: the United States (91.3%), Canada (4.9%) and Europe (3.8%).
Raymond James Financial Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended December 31, 2011; Reports Net Charge-Offs; Provides Earnings Guidance for the Second Quarter of 2012