Piper Jaffray Companies (PJC) Misses Q1 EPS by 12c

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Piper Jaffray Companies Announces 2016 First Quarter Results

April 28, 2016 8:01 AM EDT

MINNEAPOLIS--(BUSINESS WIRE)-- Piper Jaffray Companies (NYSE: PJC) today announced its financial results for the quarter ended March 31, 2016.

Financial Highlights

On February 26, 2016, we completed the acquisition of Simmons & Company International, which continues to build on our strategy to grow our advisory business. Adjusted net income(1) was $10.6 million, or $0.70 per diluted common share(1), in the first quarter of 2016, compared to $18.8 million, or $1.14 per diluted common share, in the first quarter of 2015, and $21.1 million, or $1.40 per diluted common share, in the fourth quarter of 2015.... More