Piper Jaffray Q4 Earnings Surge

By RTT News, 
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(RTTNews.com) - Piper Jaffray Companies ( PJC ), a provider of investment banking, institutional brokerage, asset management, and related financial services, Wednesday reported a surge in earnings for the fourth quarter mainly on the back of significant growth in revenue.

Earnings applicable to the company's common stockholders increased to $24.44 million from $10.19 million a year ago. Earnings per share rose to $1.70 from $0.67 last year.

Excluding certain items, earnings from continuing operations applicable to company's common stockholders increased to $27.43 million, or $1.91 per share, from $14.51 million, or $0.95 per share, a year ago.

One analyst polled by Thomson-Reuters estimated the company's earnings to be $0.73 for the quarter. Analysts' estimates typically exclude one-time items.

Total revenue rose to $193.89 million from $147.16 million a year ago. Net revenue increased by 33.1 percent to $187.58 million from $140.91 million a year ago.

Non-interest expenses were $145.52 million compared with $118.13 million last year.

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Referenced Stocks: PJC , TRI

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