| Bear Stearns Cos.
Earnings Call |
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Bear Stearns Fourth Quarter Earnings Call
24th December 2007 00:00 AM |
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| Bear Stearns reported a loss of $854 million, as the firm continues to stagger from the collapse in subprime. |
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| Bear Stearns reported negative revenue of $379 million versus $2.4 billion a year ago. The company wrote down about $1.9 billion in mortgage inventory net of hedges, which reduced earnings by $8.21 a share. Bear Stearns has laid off about 900 workers and announced plans to cut an additional 650 jobs. Compensation expenses were $326 million, down 69% from $1.1 billion in the 2006 quarter. |
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Bear Stearns Third Quarter Earnings Call
25th September 2007 00:00 AM |
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| Income fell 62% to $168 million from $449 million in 2006 as a result of poor revenues performance. |
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| The financial services firm realized a 38% decrease in revenues from $2.1 billion in 2006 to $1.33 billion, due to declines in fixed income and asset management business revenues, following lack of global liquidity and price declines in mortgage and leverage finance assets. However, the liquidity position was enhanced by strengthening the balance sheet to ensure ability to meet short term unsecured debt maturities. The share repurchase authorization was increased to $2.5 billion. |
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Bear Stearns Cos. Second Quarter Earnings Call
21st August 2007 00:00 AM |
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| Revenues increased 1% to $2.51 billion, reflecting the generally favorable market environment. |
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| The firm reported EPS, after a non-cash charge, of $2.52, down 32% from a year ago. Results include the effect of a $227 million non-cash charge related to the write-down of intangible assets, representing goodwill and specialist rights of Bear Wagner Specialists. Asset management net revenues reached $184 million, due to higher management and performance fees and favorable investment performance. The increase in the income tax rate from Q1 2007 was due to a charge of approximately $20 million. |
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