Quarterly report pursuant to sections 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

v2.3.0.11
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Share data
 3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Revenues:        
Commissions $ 30,119 $ 25,648 $ 58,852 $ 51,650
Advisory fees 17,191 12,841 32,949 23,698
Investment banking 10,549 6,655 21,662 11,421
Principal transactions (628) (161) (1,052) 130
Interest and dividends 132 137 289 263
Other income 2,868 2,464 4,733 4,393
Total revenues 60,231 47,584 117,433 91,555
Expenses:        
Commissions and fees 37,815 28,624 71,687 55,550
Compensation and benefits 12,457 10,892 26,600 22,231
Non-cash compensation 1,127 1,605 2,084 3,365
Brokerage, communication and clearance fees 1,674 1,770 3,423 3,354
Rent and occupancy, net of sublease revenue 793 760 1,615 1,534
Professional services 954 1,035 1,985 2,147
Interest 820 936 1,648 1,892
Depreciation and amortization 895 1,018 1,788 2,034
Other 3,175 2,985 5,327 5,653
Total expenses 59,710 49,625 116,157 97,760
Income (loss) before income taxes 521 (2,041) 1,276 (6,205)
Income tax expense 321 188 667 427
Net income (loss) $ 200 $ (2,229) $ 609 $ (6,632)
Net income (loss) per common share (basic and diluted) $ 0.00 $ (0.01) $ 0.00 $ (0.04)
Weighted average common shares used in computation of per share data:        
Basic 183,048,031 170,744,411 183,199,813 169,326,908
Diluted 187,005,916 170,744,411 186,659,078 169,326,908