Pharma Investments, Ventures & Law Weekly
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Lazard Ltd
Lazard Ltd Reports Nine-Month and Third-Quarter 2008 Results
November 16th, 2008
Lazard Ltd (NYSE: LAZ) announced financial results for the first nine months and third quarter ended September 30, 2008. Net income on a fully exchanged basis, excluding a previously announced one-time, after-tax charge relating to the acquisition of Lazard Asset Management (LAM) equity units, was $135.3 million, or $1.15 per share (diluted), for the first nine months of 2008, compared to $200.1 million, or $1.72 per share (diluted), for the first nine months of 2007. Nine-month 2008 net income also included provisions for counterparty defaults of $12.4 million ($9.3 million after-tax), or $0.07 per share (diluted) relating primarily to the bankruptcy filing of one of our prime...
Source: Pharma Investments, Ventures & Law Weekly (2008-11-16)
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