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Jefferies Sees Higher Fourth-Quarter Earnings

Tuesday, 18 Dec 2012 | 8:31 AM ET
Jefferies Group
F. Carter Smith | Bloomberg | Getty Images
Jefferies Group

Jefferies Group reported a stronger adjusted fourth-quarter profit as the investment bank benefited from higher income from its fixed-income unit.

Net income rose to $72 million, or 31 cents per share, from $48 million, or 21 cents per share, a year earlier.

The company, which has agreed to be bought by its biggest shareholder, Leucadia National for $2.76 billion, earned 35 cents per share on an adjusted basis.

Analysts were expecting the company to earn 32 cents per share, according to Thomson Reuters I/B/E/S.

Revenue for the quarter rose 39 percent to $769 million from a year earlier. Investment banking revenue rose 8 percent to $283 million.

"Combining our company with an extremely well-capitalized parent will allow us to continue to aggressively add value to our clients," Jefferies said in a statement.

Jefferies shares, which have risen 12 percent since the deal was announced in mid-November, closed at $18.24 on Monday on the New York Stock Exchange.

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