SWS Group, Inc. Reports First Quarter Fiscal 2011 Results: Loss of $0.64 Per Share

SWS Group, Inc. SWS today announced financial results for its first fiscal quarter ended September 24, 2010, citing solid performances in its clearing, retail and institutional segments, which each recorded pre-tax profits for the quarter. Elevated loan loss provisioning in the firm's banking subsidiary, Southwest Securities, FSB, led to a net loss for SWS Group of $20.7 million, or 64 cents per diluted share, for its fiscal 2011 first quarter. Net revenues (total revenues less interest expense) were $97.6 million in the first fiscal quarter ended September 24, 2010, as compared with $89.3 million in the quarter ended June 25, 2010 and $99.5 million in the first fiscal quarter a year ago.