Jefferies Posts Q1 Loss - Quick Facts

(RTTNews) - Jefferies Group LLC, a wholly-owned subsidiary of Leucadia National Corp. (LUK), reported a first-quarter net Loss of $167 million, compared to profit of $11.7 million, prior year. The company said the net loss is primarily attributable to an approximately $90 million after-tax difference in results in the year related to two listed equity block positions, including KCG, and the company's share of the results of Jefferies Finance joint venture, as compared to results from the same items for last year's fiscal first quarter.

For the three months ended February 29, 2016, total net revenues were $299 million. Investment Banking net revenues were $231 million; while total sales and trading net revenues were $59 million, for the quarter.

Jefferies said, early indications for the three months ended May 31, 2016, show the company's business conditions improved in late February and in the first half of March. Total sales and trading net revenues for the first ten trading days are averaging above the company's recent periods' mean results.