On wider Q2 loss, LaBranche & Co. Inc. dips in pre-market trading
Before the opening bell, trading firm LaBranche & Co., Inc. (NYSE: LAB) reported a wider second-quarter loss. The New York City-based company's net loss for the second quarter was $368.9 million, or $6 per share, compared with a $22.4 million loss, or $0.37 per share, a year earlier.
LaBranche is continuing with a previously disclosed strategic review. Freeman & Co Securities LLC is assisting the company's board of directors in its review of alternatives available for enhancing stockholder value.
Excluding one-time items, the small-cap company earned $0.11 a share. Analysts surveyed by Thomson Financial were looking for earnings of $0.02 per share.
In pre-market trading, shares of LaBranche are down $0.26, or 3.73%, at $6.71.
