Net loss for the first quarter was $3m, or $(0.02) per basic and diluted share, against a net income of $0.4m, or $0.00 per basic and diluted share, in the comparable 2011 period.
For the quarter ended on 31 March 2012, its adjusted EBITDA was $5.3m, compared to adjusted EBITDA of $3.4m during the same period last year.
Commenting on the quarterly result of the firm, Ladenburg’s president and chief executive officer Richard Lampen said that the addition of Securities America helped drive strong performance at its independent brokerage and advisory business, resulting in significant growth in EBITDA for the quarter.
"We expanded our institutional equity business by adding a talented team of traders and salespeople and added a senior investment banker in the energy space at a time of heightened activity in that sector," Lampen added.
