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 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Revenues:        
Commissions $ 109,575 $ 101,469 $ 316,520 $ 293,507
Advisory fees 86,333 69,893 245,265 200,893
Investment banking 10,916 10,090 38,306 31,271
Principal transactions 433 841 1,699 1,690
Interest and dividends 1,760 1,826 5,132 5,139
Service fees and other income 14,715 16,370 49,381 49,163
Total revenues 223,732 200,489 656,303 581,663
Expenses:        
Commissions and fees 163,393 146,906 477,133 424,942
Compensation and benefits 28,410 23,860 81,391 69,316
Non-cash compensation 3,679 1,647 7,689 4,439
Brokerage, communication and clearance fees 4,349 2,761 13,003 8,085
Rent and occupancy, net of sublease revenue 1,905 1,631 4,955 4,601
Professional services 3,127 2,247 8,091 6,401
Interest 1,701 2,283 5,193 13,395
Depreciation and amortization 4,902 3,776 12,527 11,553
Acquisition-related expense 850 0 1,308 0
Loss on extinguishment of debt 0 446 314 4,200
Amortization of retention loans 1,538 1,690 5,108 5,339
Other 10,449 10,284 31,627 30,587
Total expenses 224,303 197,531 648,339 582,858
Income (loss) before item shown below (571) 2,958 7,964 (1,195)
Change in fair value of contingent consideration 0 0 12 (121)
Income (loss) before income taxes (571) 2,958 [1] 7,976 (1,316) [1]
Income tax expense (benefit) (13,354) 579 (11,994) 1,718
Net income (loss) 12,783 2,379 19,970 (3,034)
Net loss attributable to noncontrolling interest (20) (23) (62) (49)
Net income (loss) attributable to the Company 12,803 2,402 20,032 (2,985)
Dividends declared on preferred stock (4,848) (2,879) (11,783) (3,907)
Net income (loss) available to common shareholders $ 7,955 $ (477) $ 8,249 $ (6,892)
Net income (loss) per share available to common shareholders (basic) $ 0.04 $ 0.00 $ 0.05 $ (0.04)
Net income (loss) per share available to common shareholders (diluted) $ 0.04 $ 0.00 $ 0.04 $ (0.04)
Weighted average common shares used in computation of per share data:        
Basic (in shares) 182,988,516 181,759,305 182,082,141 182,895,952
Diluted (in shares) 210,535,372 181,759,305 205,243,355 182,895,952
[1] 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.