The net loss from continuing operations was $10.3 billion, or $12.57 per diluted share for the fourth quarter of 2007, compared to net earnings from continuing operations of $2.2 billion for the fourth quarter of 2006. Net loss was $9.8 billion, or $12.01 per diluted share for the fourth quarter of 2007, compared to net earnings of $2.3 billion, or $2.41 per diluted share for the fourth quarter of 2006.
For the full-year period of 2007, net loss from continuing operations was $8.6 billion, or $10.73 per diluted share, compared to net earnings from continuing operations of $7.1 billion, or $7.17 per diluted share for the full-year period of 2006. Net loss was $7.8 billion, or $9.69 per diluted share for the full-year period of 2007, compared to net earnings of $7.5 billion, or $7.59 per diluted share for the full-year period of 2006. Net revenue was $11.3 billion, a decrease of 67% for the full-year period of 2007, compared to $33.8 billion for the full-year period of 2006.
John Thain, chairman and CEO, said: While the firm’s earnings performance for the year is clearly unacceptable, over the last few weeks we have substantially strengthened the firm’s liquidity and balance sheet.
