Lehman Brothers Holdings Inc. today reported net income of $296 million, down 31 per cent on the $430 million recorded in the same period last year. For the first six months of 2002, net income was $594 million, down 27 per cent on the $817 million recorded in the first half of fiscal 2001.
“The strength and diversity of the Lehman Brothers franchise again enabled the firm to post solid earnings and returns for our shareholders, in spite of the continuation of difficult market conditions in the second quarter,” said Richard S. Fuld, Jr., Chairman and Chief Executive Officer. “We are pleased with our performance given the market environment.”