Quarterly report pursuant to sections 13 or 15(d)

Condensed Consolidated Statements Of Operations

v2.4.0.6
Condensed Consolidated Statements Of Operations (USD $)
In Thousands, except Share data, unless otherwise specified
 3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Revenues:        
Commissions $ 80,599 $ 25,824 $ 243,931 $ 84,676
Advisory fees 58,660 14,971 171,107 47,920
Investment banking 6,140 3,509 22,841 25,171
Principal transactions 33 (524) (769) (1,576)
Interest and dividends 1,321 130 3,372 419
Service fees and other income 13,081 4,988 37,452 9,721
Total revenues 159,834 [1] 48,898 [1] 477,934 [1] 166,331 [1]
Expenses:        
Commissions and fees 119,050 31,158 353,817 102,845
Compensation and benefits 18,700 10,903 59,281 37,503
Non-cash compensation 1,054 [1] 688 [1] 3,645 [1] 2,772 [1]
Brokerage, communication and clearance fees 2,412 1,933 7,420 5,809
Rent and occupancy, net of sublease revenue 1,642 810 4,924 2,425
Professional services 2,145 769 5,812 2,754
Interest 6,148 [1] 820 [1] 18,400 [1] 2,468 [1]
Depreciation and amortization 3,979 [1] 862 [1] 12,112 [1] 2,650 [1]
Amortization of retention loans 1,712   5,295  
Acquisition related expense   700   700
Other 9,530 3,041 27,278 7,915
Total expenses 166,372 51,684 497,984 167,841
Loss before item shown below (6,538) (2,786) (20,050) (1,510)
Change in fair value of contingent consideration 909   7,111  
Loss before taxes (5,629) [1],[2] (2,786) [1] (12,939) [1],[2] (1,510) [1]
Income tax expense 408 284 1,060 951
Net loss $ (6,037) $ (3,070) $ (13,999) $ (2,461)
Net loss per common share (basic and diluted) $ (0.03) $ (0.02) $ (0.08) $ (0.01)
Weighted average common shares used in computation of per share data:        
Basic and diluted 183,460,777 182,810,137 183,610,148 183,068,493
[1] Amounts for 2012 include Securities America which was acquired on November 4, 2011.
[2] Includes $909 and $7,111 income from change in the fair value of contingent consideration related to Securities America acquisition for the three and nine months ended September 30, 2012, respectively.