Jefferies (NYSE:LUK) swung to a loss of $92.4M in the quarter ended November 30 vs a profit of $109.9M one year earlier. Excluding a $52M goodwill write-down and an $8M write-down related to Bache, Jefferies posted a $19M profit on the quarter.
Overall revenue fell 43.5% year-over-year, led by fixed-income revenue tumbling 73%. Investment banking revenue fell 24%.
Maybe giving up plans to turn into a full-service investment bank and instead return to boutique status, the company is considering options for Bache - the commodities and derivatives business it bought from Prudential in 2011.
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