Rodman & Renshaw Capital (RODM) Reports Preliminary Q2 Results
More News related to RODM
- Rodman & Renshaw Announces Pricing of GeoResources, Inc. Public Offering of Common Stock
- China Green Agriculture, Inc. Announces Closing of $20 Million Registered Direct Offering
- GSME Acquisition Partners I Completes Initial Public Offering
- China Green Agriculture (CGA) Enters into $20M Direct Placement
- China Green Agriculture, Inc. to Raise Approximately $20 Million in Registered Direct Offering
More News related to Corporate News
- Hoku Scientific (HOKU) Amends Poly Deal with Jinko Solar
- American International Group (AIG), Greenberg and Smith Settle Disputes
- Heska (HSKA) Announces Agreements with Roche for Blood Gas Product Supply/Affiliated Consumables
- AIG, Greenberg and Smith to settle all disputes
- DryShips (DRYS) Announces Exercise of Over-Allotment Option by Underwriters, Closes Convertible Senior Notes Offering for Net Proceeds of $448M
Rodman & Renshaw Capital Group, Inc. (NASDAQ: RODM) reports preliminary Q2 revenue of $27 million, versus $6.9 million in Q109.
Cash and cash equivalents were approximately $14.3 million as of June 30, 2009, compared to $8.8 million as of March 31, 2009. Liquid assets were approximately $19.5 million, consisting of cash and cash equivalents, "Level I" assets2, and current receivables, compared to $12.1 million as of March 31, 2009. The increase in cash and cash equivalents of approximately $5.5 million since March 31, 2009 is a result of cash inflows from operations of approximately $8.4 million offset by cash outflows of $1.2 million to Miller Mathis, $0.6 million to Aceras for investing purposes, and approximately $1.1 million related to leasehold improvements, severance, and legal fees related to an ongoing arbitration.
"In April we began to see increased financing activity in our targeted verticals, especially in life sciences, as well as increased demand for our core product offerings, private placements and registered direct offerings," stated Edward Rubin, Rodman's Chief Executive Officer and President. "Our operating cash flows for the second quarter are a result of improved market conditions coupled with our decision to reduce Rodman's fixed cost structure and to focus on high margin revenue products. Although there can be no assurance that the current level of deal activity will continue, Rodman is well positioned to take advantage of improvements in the market as we demonstrated in the second quarter, and we believe that Rodman can continue to do so if markets hold up or improve further."
These preliminary results are subject to further quarterly review procedures by the Company. The Company expects to release final results for the second quarter on August 12, 2009.
Related Categories
Corporate NewsGuidance
Stocks Mentioned
-0.09Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
