NEW YORK ( TheStreet) --Shares of JGWPT Holdings Inc. are plummeting -17.36% to $11 on Wednesday after the company said net income for the 2014 first quarter decreased to $34.5 million, from $89.7 million for the same period last year.Adjusted net income was $10.1 million for the most recent quarter versus $23.5 million from the year ago quarter.
The company, which provides liquidity to customers by purchasing structured settlements, annuity and lottery payments streams, reported a 25.4% decline in revenue to $136.6 million, compared to $182.3 million from the 2013 first quarter.
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