Annual report pursuant to section 13 and 15(d)

Condensed Consolidated Statements Of Operations

v2.4.0.8
Condensed Consolidated Statements Of Operations (USD $)
In Thousands, except Share data, unless otherwise specified
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Revenues:      
Commissions $ 394,414 $ 326,132 $ 139,549
Advisory fees 274,018 233,672 87,865
Investment banking 41,991 29,278 27,514
Principal transactions 2,667 (1,081) (1,210)
Interest and dividends 6,813 4,773 1,026
Service fees and other income 73,213 57,337 18,856
Total revenues 793,116 650,111 273,600
Expenses:      
Commissions and fees 573,621 477,104 182,462
Compensation and benefits 95,346 80,151 52,043
Non-cash compensation 6,766 4,744 4,014
Brokerage, communication and clearance fees 11,614 9,939 7,692
Rent and occupancy, net of sublease revenue 6,289 6,600 3,813
Professional services 9,162 8,347 4,223
Interest 15,438 24,541 6,543
Depreciation and amortization 15,315 16,061 5,632
Acquisition-related expense 0 0 2,971
Amortization of retention loans 7,160 7,346 1,634
Loss on extinguishment of debt 4,547 0 0
Other 45,333 37,281 14,875
Total expenses 790,591 672,114 285,902
Income (loss) before item shown below 2,525 (22,003) (12,302)
Change in fair value of contingent consideration (121) 7,111 0
Income (loss) before income taxes 2,404 (14,892) (12,302)
Income tax expense (benefit) 2,926 1,462 (16,195)
Net (loss) income (522) (16,354) 3,893
Net loss attributable to noncontrolling interest (68) 0 0
Net (loss) income attributable to the Company (454) (16,354) 3,893
Dividends declared on preferred stock (6,911) 0 0
Net (loss) income available to common shareholders $ (7,365) $ (16,354) $ 3,893
Net (loss) income per share available to common shareholders (basic and diluted) $ (0.04) $ (0.09) $ 0.02
Weighted average common shares used in computation of per share data:      
Basic 182,295,476 183,572,582 183,023,590
Diluted 182,295,476 183,572,582 189,014,028