Q4 results confirmed:
MAXCOR FINANCIAL GROUP INC. CONFIRMS 2001 TOTAL NET INCOME OF $1.16 PER
SHARE
2001 4Q total net income is $.26 per share, up from $.01 per share in
2000 4Q
Year-to-year revenues up by 17%, to $155 million
(New York, New York - April 2, 2002) - Maxcor Financial Group Inc.
(Nasdaq: MAXF) today confirmed its previously announced estimates of its
fourth quarter and year-end 2001 results. For the fourth quarter ended
December 31, 2001, Maxcor achieved after-tax net income of $2.0 million,
or $.26 per share, bringing total after-tax earnings for the year to
$9.0 million, or $1.16 per share.
By comparison, net income was $56,000, or $.01 per share, for the
fourth quarter of 2000 and $2.0 million, or $.23 per share, for all of 2000.
The Company also confirmed that total revenues for the fourth quarter
of 2001 were $35.7 million, a 13% increase over revenues of $31.7
million for the comparable period in 2000, and $154.8 million for all of
2001, a 17% increase over revenues of $131.8 million for all of 2000.
As of December 31, 2001, the Company's book value per share was $4.88
per share, a 40% increase from its book value per share of $3.48 at
year-end 2000.
For a fuller discussion of its 2001 performance, Maxcor is referring
investors to its annual report (Form 10-K) for the year ended December
31, 2001, which was filed on Friday with the Securities and Exchange
Commission (www.sec.gov).
Maxcor Financial Group Inc. (www.maxf.com), through its various Euro
Brokers entities, is a leading domestic and international inter-dealer
brokerage firm. Maxcor Financial Inc. is the Company's U.S. registered
broker-dealer subsidiary, and Maxcor Financial Asset Management Inc. is
the Company's SEC registered investment adviser subsidiary. The Company
employs approximately 500 persons worldwide and maintains principal
offices in New York, London, and Tokyo.
* Please See Attached Document For Financial Information.
For further information, please contact:
Michelle Jordan (media)
714-435-0678 (office)
949-632-7848 (cellular)
Roger Schwed (Maxcor - New York)
212-748-7000 (office) |
