The Bear Stearns Companies Inc. has reported earnings per share (diluted) of USD4.00 for the fourth quarter ended 30 November 2006, up 38 percent from USD2.90 per share for the fourth quarter of 2005. Net income for the fourth quarter of 2006 was USD563 million, up 38 percent from USD407 million for the fourth quarter of 2005. Net revenues for the 2006 fourth quarter were USD2.4 billion, up 28 percent from USD1.9 billion for the 2005 fourth quarter.
The annualised return on common stockholders’ equity for the fourth quarter of 2006 was 20.5 percent. For the fiscal year ended 30 November 2006, earnings per share (diluted) were a record USD14.27, up 38 percent from USD10.31 for fiscal 2005. Net income for the fiscal year 2006 was USD2.1 billion, up 40 percent from the USD1.5 billion earned in the twelve-month period ended 30 November 2005. Net revenues for fiscal year 2006 were USD9.2 billion, an increase of 25 percent from USD7.4 billion in the prior fiscal year. The after-tax return on common stockholders’ equity was 19.1 percent for fiscal 2006.
“We are pleased to announce Bear Stearns’ fifth consecutive year of record net income and earnings per share,” says James E. Cayne, the chairman and chief executive officer of Bear Stearns. “Our continued success is a testament to our unwavering focus on serving our clients with excellence; attracting and retaining talented professionals and profitably expanding our broad and diverse franchise. I look forward to 2007 and our continued expansion both internationally and domestically.”