Why Andersen Group Stock Crushed it Today
A record-breaking fourth quarter was the catalyst behind the surge in Andersen Group (NYSE: ANDG) stock on Wednesday. Investors were obviously impressed with the tax and financial advisory company's performance in that frame, as they bid its stock up by almost 14% across the Hump Day trading session.
For the quarter, Andersen grew revenue by almost 20% year over year to slightly over $170 million. On the bottom line, equity restructuring costs arising from its transformation from a private partnership to a publicly traded company totaled more than $193 million. That drove it far into the red, with a headline net loss of over $193 million ($0.22 per share), from the year-ago deficit of under $10 million.
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Source Fool.com
