03.08.2011 23:18:00

Leucadia National Corporation Announces Six Month 2011 Results

Leucadia National Corporation (NYSE: LUK) today announced its operating results for the six month period ended June 30, 2011. Net income attributable to Leucadia National Corporation common shareholders for the six month period ended June 30, 2011 was $196,816,000 ($.80 per diluted common share) compared to net loss attributable to Leucadia National Corporation common shareholders for 2010 of $43,665,000 ($.18 per diluted common share).

For more information on the Company’s results of operations for the first half of 2011, please see the Company’s Form 10-Q for the six months ended June 30, 2011, which was filed with the Securities and Exchange Commission today.

SUMMARY FOR LEUCADIA NATIONAL CORPORATION AND SUBSIDIARIES

(In thousands, except per share amounts)

(Unaudited)

 
       

For the Three Month

Period Ended June 30,

       

For the Six Month

Period Ended June 30,

2011

       

2010

2011

       

2010

 
Revenues and other income $ 753,441   $ 289,200   $ 1,037,475   $ 548,495  
 
Net securities gains $ 529,637   $ 71,413   $ 531,940   $ 170,480  
 
Income from continuing operations before income taxes and
losses related to associated companies $ 519,192 $ 80,295 $ 598,722 $ 128,135
 
Income taxes   190,108     4,665     229,161     7,367  
 
Income from continuing operations before losses related to
associated companies 329,084 75,630 369,561 120,768
 
Losses related to associated companies, net of taxes   (145,796 )   (321,922 )   (173,844 )   (170,728 )
 
Income (loss) from continuing operations 183,288 (246,292 ) 195,717 (49,960 )
 
Income from discontinued operations, including gain on
disposal, net of taxes   3,170     10,014     1,527     5,187  
 
Net income (loss) 186,458 (236,278 ) 197,244 (44,773 )
 
Net (income) loss attributable to the noncontrolling interest   (149 )   1,134     (428 )   1,108  
 
Net income (loss) attributable to
Leucadia National Corporation common shareholders $ 186,309   $ (235,144 ) $ 196,816   $ (43,665 )
 
Basic earnings (loss) per common share attributable to
Leucadia National Corporation common shareholders:
Income (loss) from continuing operations $ .75 $ (1.01 ) $ .80 $ (.20 )
Income from discontinued operations, including
gain on disposal   .01     .04     .01     .02  
Net income (loss) $ .76   $ (.97 ) $ .81   $ (.18 )
 
Number of shares in calculation   244,521     243,312     244,290     243,302  
 
Diluted earnings (loss) per common share attributable to
Leucadia National Corporation common shareholders:
Income (loss) from continuing operations $ .74 $ (1.01 ) $ .79 $ (.20 )
Income from discontinued operations, including
gain on disposal   .01     .04     .01     .02  
Net income (loss) $ .75   $ (.97 ) $ .80   $ (.18 )
 
Number of shares in calculation   249,026     243,312     248,971     243,302  

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