LAB » Topics » Item 2.02. Results of Operations and Financial Condition.

This excerpt taken from the LAB 8-K filed Apr 21, 2009.

Item 2.02. Results of Operations and Financial Condition.

On April 21, 2009, LaBranche & Co Inc. (the “Company”) issued a press release announcing its results for the first quarter of 2009. A copy of this press release is furnished herewith as Exhibit 99.1.

The information in this Current Report, including the news release attached hereto, is being furnished pursuant to Item 2.02 of Form 8-K and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to liabilities of that Section.

This excerpt taken from the LAB 8-K filed Feb 24, 2009.

Item 2.02. Results of Operations and Financial Condition.

Subsequent to the filing of its earnings release for the fourth quarter and full year of 2008 on Form 8-K on January 21, 2009 (the “Earnings Release”), LaBranche & Co Inc. (the “Company”) was informed by management of a mortgage brokerage entity in which the Company owns a minority equity interest of approximately $3.0 million that the equity investment is expected to lose all of its economic value in light of that entity’s decision to commence liquidation. The Company had assumed this equity investment as part of a merger transaction in 2001 and the Company is a passive investor in the entity. The businesses and operations of this mortgage brokerage entity are not directly or indirectly related to any of the Company’s businesses or operations. The Company does not anticipate that it will be able to recover any of the value of this equity investment. The Company, therefore, has set up a reserve for the entire amount of this equity investment as of December 31, 2008.

The information available to the Company indicates that the events which gave rise to the impending liquidation of the entity existed prior to the Company’s December 31, 2008 balance sheet date. As a result, the Company is required to account for this event as a Type 1 subsequent event in its forthcoming Annual Report on Form 10-K for the fiscal year ended December 31, 2008.

This subsequent event adjustment results in a decrease in the GAAP earnings for the fourth quarter of 2008 previously announced by the Company in the Earnings Release from $3.0 million, or $0.05 per diluted share, to $1.2 million, or $0.02 per diluted share, and an increase in the Company’s GAAP net loss for the year ended December 31, 2008 from $64.2 million, or $1.04 per share, to $66.0 million, or $1.07 per share. This subsequent event adjustment also results in a decrease in the pro-forma earnings for the fourth quarter of 2008 previously announced by the Company in the Earnings Release from $24.7 million, or $0.41 per diluted share, to $23.0 million, or $0.38 per diluted share, and a decrease in the Company’s pro-forma earnings for the year ended December 31, 2008 from $47.8 million, or $0.78 per diluted share, to $46.0 million, or $0.75 per diluted share. These pro-forma results exclude the previously-reported unrealized changes in the fair value of the Company’s NYSE Euronext, Inc. common shares and the expense on early extinguishment of the Company’s debt in each period. This adjustment does not affect the Company’s cash position and will effectively reduce the value of the Company’s non-industry related investments from approximately $8.3 million, which is included in “other assets” on the Company’s Consolidated Statements of Financial Condition, to approximately $5.3 million.

The information in this Current Report, including the news release attached hereto, is being furnished pursuant to Item 2.02 of Form 8-K and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to liabilities of that Section.


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  LaBRANCHE & CO INC.
Date: February 24, 2009   By:  

/s/    Jeffrey A. McCutcheon

  Name:   Jeffrey A. McCutcheon
  Title:   Senior Vice President and Chief Financial Officer
This excerpt taken from the LAB 8-K filed Jan 26, 2007.

Item 2.02 Results of Operations and Financial Condition.

On January 26, 2007, LaBranche & Co Inc. issued a press release announcing its results for the fourth quarter and full year ended December 31, 2006. A copy of this press release is furnished herewith as Exhibit 99.1.

The information in this Current Report, including the news release attached hereto, is being furnished pursuant to Item 2.02 of Form 8-K and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to liabilities of that Section.

This excerpt taken from the LAB 8-K filed Oct 16, 2006.

Item 2.02.  Results of Operations and Financial Condition.

On October 16, 2006, LaBranche & Co Inc. issued a press release announcing its results for the quarter and nine months ended September 30, 2006.  A copy of this press release is furnished herewith as Exhibit 99.1.

The information in this Current Report, including the news release attached hereto, is being furnished pursuant to Item 2.02 of Form 8-K and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to liabilities of that Section.

This excerpt taken from the LAB 8-K filed Jul 7, 2006.

Item 2.02. Results of Operations and Financial Condition.

On July 6, 2006, LaBranche & Co Inc. issued a press release announcing its estimated results for the second quarter of 2006. In addition, certain additional financial information was provided by LaBranche in a conference call and webcast on July 6, 2006 following the issuance of the press release. A transcript of the conference call providing that additional financial information is set forth as Exhibit 99.1 to this report.

The information in this report, including the information set forth in Exhibit 99.1 hereto, is being furnished pursuant to Item 2.02 of Form 8-K and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to liabilities of that Section.

This excerpt taken from the LAB 8-K filed Jul 6, 2006.

Item 2.02. Results of Operations and Financial Condition.

On July 6, 2006, LaBranche & Co Inc. issued a press release announcing its estimated results for the second quarter of 2006. A copy of this press release is furnished herewith as Exhibit 99.1.

The information in this Current Report, including the news release attached hereto, is being furnished pursuant to Item 2.02 of Form 8-K and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to liabilities of that Section.

This excerpt taken from the LAB 8-K filed Apr 25, 2006.

Item 2.02.              Results of Operations and Financial Condition.

 

On April 25, 2006, LaBranche & Co Inc. issued a press release announcing its financial results for the first quarter ended March 31, 2006.  A copy of this press release is furnished herewith as Exhibit 99.1.

 

The information above, including the news release attached hereto, is being furnished pursuant to Item 2.02 of Form 8-K and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to liabilities of that Section.

 

This excerpt taken from the LAB 8-K filed Jan 24, 2006.

Item 2.02.         Results of Operations and Financial Condition.

On January 24, 2006, LaBranche & Co Inc. issued a press release announcing its financial results for the fourth quarter and full year ended December 31, 2005.  A copy of this press release is furnished herewith as Exhibit 99.1.

The information in this Current Report, including the news release attached hereto, is being furnished pursuant to Item 2.02 of Form 8-K and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to liabilities of that Section.

This excerpt taken from the LAB 8-K filed Oct 25, 2005.

Item 2.02.  Results of Operations and Financial Condition.

 

On October 25, 2005, LaBranche & Co Inc. issued a press release announcing its financial results for the third quarter and nine months ended September 30, 2005.  A copy of this press release is furnished herewith as Exhibit 99.1.

 

The information in this Current Report, including the news release attached hereto, is being furnished pursuant to Item 2.02 of Form 8-K and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to liabilities of that Section.

 

This excerpt taken from the LAB 8-K filed Jul 26, 2005.

Item 2.02.  Results of Operations and Financial Condition.

 

On July 26, 2005, LaBranche & Co Inc. issued a press release announcing its financial results for the second quarter and six months ended June 30, 2005.  A copy of this press release is furnished herewith as Exhibit 99.1.

 

The information in this Current Report, including the news release attached hereto, is being furnished pursuant to Item 2.02 of Form 8-K and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to liabilities of that Section.

 

This excerpt taken from the LAB 8-K filed Apr 27, 2005.

Item 2.02.  Results of Operations and Financial Condition.

 

On April 27, 2005, LaBranche & Co Inc. issued a press release announcing its financial results for the first quarter ended March 31, 2005.  A copy of this press release is furnished herewith as Exhibit 99.1.

 

The information in this Current Report, including the news release attached hereto, is being furnished pursuant to Item 2.02 of Form 8-K and shall not be deemed “filed” for purposes of Section 18 of the Securities Act of 1934, as amended, or otherwise subject to liabilities of that Section.

 

This excerpt taken from the LAB 8-K filed Apr 8, 2005.

Item 2.02.  Results of Operations and Financial Condition.

 

On April 8, 2005, LaBranche & Co Inc. issued a press release announcing its anticipated results for the first quarter of 2005.  A copy of this press release is furnished herewith as Exhibit 99.1.

 

The information in this Current Report, including the news release attached hereto, is being furnished pursuant to Item 2.02 of Form 8-K and shall not be deemed “filed” for purposes of Section 18 of the Securities Act of 1934, as amended, or otherwise subject to liabilities of that Section.

 

This excerpt taken from the LAB 8-K filed Jan 21, 2005.

Item 2.02.  Results of Operations and Financial Condition.

 

On January 21, 2005, LaBranche & Co Inc. issued a press release announcing its financial results for the fourth quarter and full year ended December 31, 2004.  A copy of this press release is furnished herewith as Exhibit 99.1.

 

The information in this Current Report, including the news release attached hereto, is being furnished pursuant to Item 2.02 of Form 8-K and shall not be deemed “filed” for purposes of Section 18 of the Securities Act of 1934, as amended, or otherwise subject to liabilities of that Section.

 

Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki