| Segment Information |
The
Company has three operating segments. The Ladenburg segment
includes the investment banking, sales and trading and asset
management services and investment activities conducted by
Ladenburg and LTAM. The independent brokerage and advisory services
segment includes the broker-dealer and investment advisory services
provided by Investacorp and Triad to their independent contractor
financial advisors. The Premier segment includes the trust services
provided by Premier.
Segment
information for the three months ended September 30, 2011 and 2010
was as follows:
|
|
|
Ladenburg
|
|
|
Independent
Brokerage and
Advisory Services
|
|
|
Premier
|
|
|
Corporate
|
|
|
Total
|
|
|
2011
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues
|
|
$ |
6,872 |
|
|
$ |
39,641 |
|
|
$ |
698 |
|
|
$ |
1,687 |
(1) |
|
$ |
48,898 |
|
|
Pre-tax
(loss) income
|
|
|
(2,498 |
) |
|
|
1,378 |
|
|
|
(95 |
) |
|
|
(1,571 |
)(2) |
|
|
(2,786 |
) |
|
Identifiable
assets
|
|
|
21,556 |
|
|
|
74,172 |
|
|
|
2,605 |
|
|
|
2,459 |
|
|
|
100,792 |
|
|
Depreciation
and amortization
|
|
|
232 |
|
|
|
573 |
|
|
|
40 |
|
|
|
17 |
|
|
|
862 |
|
|
Interest
|
|
|
3 |
|
|
|
4 |
|
|
|
— |
|
|
|
813 |
|
|
|
820 |
|
|
Capital
expenditures
|
|
|
8 |
|
|
|
63 |
|
|
|
7 |
|
|
|
— |
|
|
|
78 |
|
|
Non-cash
compensation
|
|
|
195 |
|
|
|
123 |
|
|
|
30 |
|
|
|
340 |
|
|
|
688 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2010
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues
|
|
$ |
7,420 |
|
|
$ |
38,819 |
|
|
$ |
194 |
|
|
$ |
1,930 |
(1) |
|
$ |
48,363 |
|
|
Pre-tax
(loss) income
|
|
|
(2,272 |
) |
|
|
(149 |
) |
|
|
9 |
|
|
|
(566 |
)(2) |
|
|
(2,978 |
) |
|
Identifiable
assets
|
|
|
19,101 |
|
|
|
74,029 |
|
|
|
2,559 |
|
|
|
304 |
|
|
|
95,993 |
|
|
Depreciation
and amortization
|
|
|
420 |
|
|
|
558 |
|
|
|
1 |
|
|
|
17 |
|
|
|
996 |
|
|
Interest
|
|
|
4 |
|
|
|
3 |
|
|
|
— |
|
|
|
634 |
|
|
|
641 |
|
|
Capital
expenditures
|
|
|
— |
|
|
|
146 |
|
|
|
33 |
|
|
|
— |
|
|
|
179 |
|
|
Non-cash
compensation
|
|
|
283 |
|
|
|
510 |
|
|
|
— |
|
|
|
498 |
|
|
|
1,291 |
|
Segment
information for the nine months ended September 30, 2011 and 2010
was as follows:
|
|
|
Ladenburg
|
|
|
Independent
Brokerage and
Advisory Services
|
|
|
Premier
|
|
|
Corporate
|
|
|
Total
|
|
|
2011
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues
|
|
$ |
35,323 |
|
|
$ |
127,535 |
|
|
$ |
2,042 |
|
|
$ |
1,431 |
(1) |
|
$ |
166,331 |
|
|
Pre-tax
(loss) income
|
|
|
(396 |
) |
|
|
4,422 |
|
|
|
(76 |
) |
|
|
(5,460 |
)(2) |
|
|
(1,510 |
) |
|
Identifiable
assets
|
|
|
21,556 |
|
|
|
74,172 |
|
|
|
2,605 |
|
|
|
2,459 |
|
|
|
100,792 |
|
|
Depreciation
and amortization
|
|
|
765 |
|
|
|
1,716 |
|
|
|
118 |
|
|
|
51 |
|
|
|
2,650 |
|
|
Interest
|
|
|
85 |
|
|
|
19 |
|
|
|
— |
|
|
|
2,364 |
|
|
|
2,468 |
|
|
Capital
expenditures
|
|
|
29 |
|
|
|
136 |
|
|
|
23 |
|
|
|
— |
|
|
|
188 |
|
|
Non-cash
compensation
|
|
|
804 |
|
|
|
354 |
|
|
|
81 |
|
|
|
1,533 |
|
|
|
2,772 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2010
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues
|
|
$ |
29,617 |
|
|
$ |
108,122 |
|
|
$ |
194 |
|
|
$ |
1,985 |
(1) |
|
$ |
139,918 |
|
|
Pre-tax
(loss) income
|
|
|
(4,712 |
) |
|
|
299 |
|
|
|
9 |
|
|
|
(4,779 |
)(2) |
|
|
(9,183 |
) |
|
Identifiable
assets
|
|
|
19,101 |
|
|
|
74,029 |
|
|
|
2,559 |
|
|
|
304 |
|
|
|
95,993 |
|
|
Depreciation
and amortization
|
|
|
1,309 |
|
|
|
1,669 |
|
|
|
1 |
|
|
|
51 |
|
|
|
3,030 |
|
|
Interest
|
|
|
13 |
|
|
|
17 |
|
|
|
— |
|
|
|
2,503 |
|
|
|
2,533 |
|
|
Capital
expenditures
|
|
|
89 |
|
|
|
181 |
|
|
|
33 |
|
|
|
— |
|
|
|
303 |
|
|
Non-cash
compensation
|
|
|
1,290 |
|
|
|
1,597 |
|
|
|
— |
|
|
|
1,769 |
|
|
|
4,656 |
|
|
|
(1)
|
Includes
consolidation and elimination entries
|
|
|
(2)
|
Includes
interest, compensation, professional fees and other general and
administrative expenses.
|
|