FOR IMMEDIATE DISTRIBUTION
Highlights for the first quarter ended March 31, 2009:
- Net revenues were $347.3 million.
- The net earnings for the first quarter of 2009 were $38.3 million.
- The net earnings per common share (diluted) were $0.19.
- Fixed income and commodities revenues were a record $203 million.
“Our first quarter results make it clear that we have distinguished ourselves from both the TARP-subsidized institutions, as well as the small and mid-cap brokers and boutiques. The performance of our fixed income businesses highlights the breadth and depth of our full-service, client-focused, independently-funded Wall Street securities firm. We have invested many years, an immense amount of human effort and much expense to build what we believe is a first tier provider of sales, trading, research and investment banking services. Our first quarter results reflect only the beginning of what we expect to realize over time from this investment. The events of the last 21 months, and particularly the incredible change in the competitive landscape over the last 12 months, have only enhanced the long-term opportunity we envision for our firm. We thank everyone at Jefferies for their efforts.”
Conference Call
A conference call with management discussion of financial results for the first quarter ended March 31, 2009 will be held today, April 21, 2009, at 9:00 AM Eastern (date and time subject to change). Securities industry professionals may access the management discussion by calling 877-246-1929 or 706-634-9290. A one-week replay of the call will also be available at 800-633-8284 or 402-977-9140 (reservation code # 21419001). A live audio webcast and delayed replay can be accessed at www.jefferies.com.
About Jefferies
Jefferies, an independent, full-service global securities and investment banking firm, has served companies and their investors for more than 45 years. Headquartered in New York City, with offices in more than 25 cities around the world, Jefferies provides clients with capital markets and financial advisory services, institutional brokerage, securities research and asset management. The firm provides investors with fundamental research and trade execution in equity, equity-linked, and fixed income securities, including corporate bonds, high yield bonds, US government and agency securities, repo finance, mortgage- and asset-backed securities, municipal bonds, whole loans and emerging markets debt, as well as commodities and derivatives. Jefferies offers companies capital markets, merger and acquisition, restructuring and other financial advisory services. Jefferies & Company, Inc. is the principal operating subsidiary of Jefferies Group, Inc. (NYSE: JEF: www.jefferies.com).
For further information, please contact:
Peregrine C. Broadbent
Chief Financial Officer
(212) 284-2338
Full press release (with all tables) in PDF format
