JMP Group Reports First Quarter 2011 Financial Results

JMP Group Inc. JMP, an investment banking and alternative asset management firm, reported financial results today for the quarter ended March 31, 2011. Total net revenues were $42.9 million, compared to $25.2 million for the first quarter of 2010. Adjusting for the impact of non-cash items, adjusted net revenues were a record $47.4 million, compared to $26.5 million for the first quarter of 2010. For more information on adjusted net revenues, including a reconciliation to net revenues, please see the section below titled “Non-GAAP Financial Measures.” Net income attributable to JMP Group was $3.5 million, or $0.15 per diluted share, compared to $1.7 million, or $0.08 per diluted share, for the first quarter of 2010.