Quarterly report pursuant to sections 13 or 15(d)

Segment Information

v2.4.0.6
Segment Information
9 Months Ended
Sep. 30, 2012
Segment Information
12. Segment Information

 

The Company has two operating segments. The independent brokerage and advisory services segment includes the broker-dealer and investment advisory services provided by Securities America, Investacorp and Triad to their independent contractor financial advisors and wealth management services provided by Premier Trust. The Ladenburg segment includes the investment banking, sales and trading and asset management services and investment activities conducted by Ladenburg and LTAM.

 

Segment information for the three months ended September 30, 2012 and 2011 was as follows:

 

    Independent
Brokerage and
Advisory Services (1)
    Ladenburg     Corporate     Total (1)  
2012                                
Revenues   $ 149,201     $ 10,560     $ 73     $ 159,834  
Pre-tax loss     (2,226 )(2)     (358 )     (3,045 )(3)     (5,629) (2)
Identifiable assets     310,724       21,208       1,904       333,836  
Depreciation and amortization     3,759       203       17       3,979  
Interest     4,942       3       1,203       6,148  
Capital expenditures     853       4             857  
Non-cash compensation     244       195       615       1,054  
                                 
2011                                
Revenues   $ 40,339     $ 6,872     $ 1,687     $ 48,898  
Pre-tax income (loss)     1,283       (2,498 )     (1,571 )(3)     (2,786 )
Identifiable assets     76,777       21,556       2,459       100,792  
Depreciation and amortization     613       232       17       862  
Interest     4       3       813       820  
Capital expenditures     70       8             78  
Non-cash compensation     153       195       340       688  

 

 

Segment information for the nine months ended September 30, 2012 and 2011 was as follows:

 

    Independent
Brokerage and
Advisory Services (1)
    Ladenburg     Corporate     Total (1)  
2012                                
Revenues   $ 442,993     $ 34,758     $ 183     $ 477,934  
Pre-tax loss     (3,738 )(2)     (301 )     (8,900 )(3)     (12,939) (2)
Identifiable assets     310,724       21,208       1,904       333,836  
Depreciation and amortization     11,430       631       51       12,112  
Interest     14,850       75       3,475       18,400  
Capital expenditures     3,631       15       6       3,652  
Non-cash compensation     1,210       687       1,748       3,645  
                                 
2011                                
Revenues   $ 129,577     $ 35,323     $ 1,431     $ 166,331  
Pre-tax income (loss)     4,346       (396 )     (5,460 )(3)     (1,510 )
Identifiable assets     76,777       21,556       2,459       100,792  
Depreciation and amortization     1,834       765       51       2,650  
Interest     19       85       2,364       2,468  
Capital expenditures     159       29             188  
Non-cash compensation     435       804       1,533       2,772  

 

(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.
(3) Includes interest on revolving credit and forgivable loan notes, compensation, professional fees and other general and administrative expenses.