Chairman and CEORichard Hendrix said the equity issuance environment has improved, and he ishopeful his company can produce better results in 2016.

FBRreported April 27 afirst-quarter net loss of $5.5 million, or 72 cents per share, on revenues of$17.9 million, compared to a net loss of $2.5 million, or 29 cents per share,on revenues of $27.1 million in the year-ago quarter. Hendrix said hiscompany's results were negatively impacted by the industrywide slowdown inequity issuance activity.

Henoted that IPOs were especially slow during the first quarter and reached theirlowest levels since the first quarter of 2009, the immediate aftermath of thefinancial crisis. "The overall health of the initial equity market is anessential element in the biggest part of our business, initial equityunderwriting," Hendrix said during an earnings conference call.

Hendrixsaid the equity markets have recovered of late, and that could help withissuance activity.

"Weare seeing very recent signs of improvement in the new issue environment andare encouraged that improvement will lead to better results," he said.

Hesaid energy is the most active sector for his company. However, he said hiscompany also has opportunities in areas such as health care and industrials.

"We'revery active right now working to put transactions in place that should executeover, certainly the balance of the year, but even potentially the balance of[the second] quarter," Hendrix said.