INTL FCStone’s earnings plunge 84.4%
May 10, 2012 | 05:20 PM
| Barbara O'Donovan
Tags
INTL FCStone,
MF Global,
base metals,
Barbara O'Donovan
NEW YORK — INTL FCStone Inc.’s earnings have fallen sharply due to costs associated with its expansion, including its acquisition of the MF Global metals team.
The New York-based company posted net income of $2.4 million for its fiscal second quarter, down 84.4 percent from the same period last year despite a 5.7-percent increase in net revenue to $116 million. And net income for the six months ended March 31 tumbled 89.7 percent to $2 million on net revenue that rose 3.8 percent from a year earlier....
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