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Condensed Consolidated Statements Of Operations (USD $)
In Thousands, except Share data |
3 Months Ended | 6 Months Ended | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 30, 2012
|
Jun. 30, 2011
|
Jun. 30, 2012
|
Jun. 30, 2011
|
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| Revenues: | ||||||||||||
| Commissions | $ 83,662 | $ 30,119 | $ 163,332 | $ 58,852 | ||||||||
| Advisory fees | 57,009 | 17,191 | 112,447 | 32,949 | ||||||||
| Investment banking | 10,079 | 10,549 | 16,701 | 21,662 | ||||||||
| Principal transactions | (401) | (628) | (802) | (1,052) | ||||||||
| Interest and dividends | 1,173 | 132 | 2,051 | 289 | ||||||||
| Service fees and other income | 11,863 | 2,868 | 24,371 | 4,733 | ||||||||
| Total revenues | 163,385 | [1] | 60,231 | [1] | 318,100 | [1] | 117,433 | [1] | ||||
| Expenses: | ||||||||||||
| Commissions and fees | 120,679 | 37,815 | 234,767 | 71,687 | ||||||||
| Compensation and benefits | 20,941 | 12,457 | 40,581 | 26,600 | ||||||||
| Non-cash compensation | 1,227 | [1] | 1,127 | [1] | 2,591 | [1] | 2,084 | [1] | ||||
| Brokerage, communication and clearance fees | 2,566 | 1,929 | 5,008 | 3,876 | ||||||||
| Rent and occupancy, net of sublease revenue | 1,606 | 793 | 3,282 | 1,615 | ||||||||
| Professional services | 1,938 | 954 | 3,667 | 1,985 | ||||||||
| Interest | 6,192 | [1] | 820 | [1] | 12,252 | [1] | 1,648 | [1] | ||||
| Depreciation and amortization | 4,070 | [1] | 895 | [1] | 8,133 | [1] | 1,788 | [1] | ||||
| Amortization of retention loans | 1,791 | 3,583 | ||||||||||
| Other | 7,961 | 2,920 | 17,748 | 4,874 | ||||||||
| Total expenses | 168,971 | 59,710 | 331,612 | 116,157 | ||||||||
| (Loss) income before item shown below | (5,586) | 521 | (13,512) | 1,276 | ||||||||
| Change in fair value of contingent consideration | 647 | 6,202 | ||||||||||
| (Loss) income before income taxes | (4,939) | [1],[2] | 521 | [1] | (7,310) | [1],[2] | 1,276 | [1] | ||||
| Income tax expense | 44 | 321 | 652 | 667 | ||||||||
| Net (loss) income | $ (4,983) | $ 200 | $ (7,962) | $ 609 | ||||||||
| Net (loss) income per common share (basic and diluted) | $ (0.03) | $ 0.00 | $ (0.04) | $ 0.00 | ||||||||
| Weighted average common shares used in computation of per share data: | ||||||||||||
| Basic | 183,551,171 | 183,048,031 | 183,685,654 | 183,199,813 | ||||||||
| Diluted | 183,551,171 | 187,005,916 | 183,685,654 | 186,659,078 | ||||||||
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