KBW, Inc. Announces 2012 First Quarter Results and Declares Quarterly Cash Dividend

NEW YORK--(BUSINESS WIRE)--KBW, Inc. (NYSE: KBW), a full-service investment bank that specializes in the financial services sector, today announced revenues of $69.2 million and non-GAAP operating net income of $2.0 million, or $0.06 per diluted share, for the quarter ended March 31, 2012. This compares with total revenues of $95.2 million and net income of $4.6 million, or $0.13 per diluted share, for the first quarter of 2011 and total revenues of $54.9 million and a non-GAAP operating net loss of $8.3 million, or negative $0.28 per diluted share, for the fourth quarter of 2011. See “Non-GAAP Financial Measures” below for a reconciliation of our non-GAAP operating results to our GAAP results. GAAP net income for the first quarter of 2012 was $0.5 million, or $0.01 per diluted share. The GAAP net loss for the fourth quarter of 2011 was $16.3 million, or negative $0.55 per diluted share.