Quarterly report pursuant to Section 13 or 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
 3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Revenues:        
Commissions $ 106,346 $ 98,971 $ 206,945 $ 192,038
Advisory fees 82,053 67,663 158,932 131,000
Investment banking 11,391 8,112 27,390 21,181
Principal transactions 484 429 1,266 849
Interest and dividends 1,669 1,702 3,372 3,313
Service fees and other income 18,810 16,992 34,666 32,793
Total revenues 220,753 193,869 432,571 381,174
Expenses:        
Commissions and fees 162,001 143,568 313,740 278,036
Compensation and benefits 25,091 21,821 52,981 45,456
Non-cash compensation 2,083 1,379 4,010 2,792
Brokerage, communication and clearance fees 4,247 2,736 8,654 5,324
Rent and occupancy, net of sublease revenue 1,517 1,471 3,050 2,970
Professional services 2,816 2,066 4,964 4,154
Interest 1,599 4,876 3,492 11,112
Depreciation and amortization 3,787 3,870 7,625 7,777
Acquisition-related expense 458 0 458 0
Loss on extinguishment of debt 0 3,754 314 3,754
Amortization of retention loans 1,782 1,841 3,570 3,649
Other 11,682 11,263 21,178 20,303
Total expenses 217,063 198,645 424,036 385,327
Income (loss) before item shown below 3,690 (4,776) 8,535 (4,153)
Change in fair value of contingent consideration 0 (144) 12 (121)
Income (loss) before income taxes 3,690 (4,920) [1] 8,547 (4,274) [2]
Income tax expense 767 616 1,360 1,139
Net income (loss) 2,923 (5,536) 7,187 (5,413)
Net loss attributable to noncontrolling interest (21) (13) (42) (26)
Net income (loss) attributable to the Company 2,944 (5,523) 7,229 (5,387)
Dividends declared on preferred stock (3,710) (1,028) (6,935) (1,028)
Net income (loss) available to common shareholders $ (766) $ (6,551) $ 294 $ (6,415)
Net income (loss) per share available to common shareholders (basic and diluted) $ 0.00 $ (0.04) $ 0.00 $ (0.03)
Weighted average common shares used in computation of per share data:        
Basic (in shares) 181,739,505 183,488,108 181,621,442 183,473,696
Diluted (in shares) 181,739,505 183,488,108 202,727,441 183,473,696
[1] Includes interest on revolving credit and forgivable loan notes, compensation, professional fees and other general and administrative expenses.
[2] Management fees paid by the Company's operating segments to the Company have been reclassified within segments to conform to the current period’s presentation.