Rodman Reports Third Quarter EPS of $(0.10)

Rodman & Renshaw Capital Group, Inc. RODM today announced financial results for the third quarter of 2010.

Third Quarter 2010 Highlights:

• Investment banking revenue of $15.1 million, compared to $31.3 million and $20.8 million in the third quarter of 2009 and the second quarter of 2010, respectively.
• Revenue, excluding principal transactions, of $18.4 million, compared to $63.2 million and $23.7 million in the third quarter of 2009 and the second quarter of 2010, respectively.
• Net loss of $4.3 million, or $0.12 per diluted share. Non-GAAP operating net loss of $3.7 million, or $0.10 per diluted share. For the second quarter of 2010, the Company reported Non-GAAP operating net income of $0.2 million, or $0.01 per diluted share and a 1% pre-tax operating margin. A reconciliation between GAAP results and non-U.S. GAAP measures is contained in the tables that accompany this release, under “Non-U.S. GAAP Financial Measures”.
• 11 financing transactions were completed raising $244 million in the third quarter of 2010, compared to 32 financing transactions raising $644 million in the third quarter of 2009 and 29 financing transactions raising $439 million in the second quarter of 2010.
• 7 advisory transactions generated $9.0 million in investment banking revenue during the third quarter of 2010.