Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements Of Cash Flows

v2.4.1.9
Condensed Consolidated Statements Of Cash Flows (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Cash flows from operating activities:    
Net (loss) income $ (3,572)us-gaap_ProfitLoss $ 4,264us-gaap_ProfitLoss
Adjustments to reconcile net (loss) income to net cash used in operating activities:    
Change in fair value of contingent consideration (31)lts_ChangeOfBusinessAcquisitionContingentConsiderationAtFairValue (12)lts_ChangeOfBusinessAcquisitionContingentConsiderationAtFairValue
Adjustment to deferred rent (58)us-gaap_OtherNoncashIncomeExpense (89)us-gaap_OtherNoncashIncomeExpense
Amortization of intangible assets 5,109us-gaap_AmortizationOfIntangibleAssets 2,821us-gaap_AmortizationOfIntangibleAssets
Depreciation and other amortization 1,481us-gaap_DepreciationDepletionAndAmortization 1,017us-gaap_DepreciationDepletionAndAmortization
Loss on extinguishment of debt 252us-gaap_GainsLossesOnExtinguishmentOfDebt 314us-gaap_GainsLossesOnExtinguishmentOfDebt
Amortization of debt discount 176us-gaap_AmortizationOfDebtDiscountPremium 142us-gaap_AmortizationOfDebtDiscountPremium
Amortization of debt issue cost 94us-gaap_AmortizationOfDeferredLoanOriginationFeesNet 100us-gaap_AmortizationOfDeferredLoanOriginationFeesNet
Amortization of retention and forgivable loans 2,698lts_AmortizationofRetentionLoans 1,788lts_AmortizationofRetentionLoans
Deferred income taxes (2,204)us-gaap_DeferredIncomeTaxExpenseBenefit 254us-gaap_DeferredIncomeTaxExpenseBenefit
Benefit attributable to reduction of goodwill 19us-gaap_GoodwillSubsequentRecognitionOfDeferredTaxAsset 20us-gaap_GoodwillSubsequentRecognitionOfDeferredTaxAsset
Non-cash interest expense on forgivable loans 251us-gaap_OtherOperatingActivitiesCashFlowStatement 210us-gaap_OtherOperatingActivitiesCashFlowStatement
Non-cash compensation expense 3,260us-gaap_ShareBasedCompensation 1,927us-gaap_ShareBasedCompensation
Loss on write-off of receivable from subtenant 855us-gaap_AllowanceForLoanAndLeaseLossesWriteOffs 0us-gaap_AllowanceForLoanAndLeaseLossesWriteOffs
Loss on write-off of furniture, fixtures and leasehold improvements, net 8us-gaap_GainLossOnSaleOfPropertyPlantEquipment 3us-gaap_GainLossOnSaleOfPropertyPlantEquipment
(Increase) decrease in operating assets, net of effects of acquisition:    
Securities owned, at fair value 1,082us-gaap_IncreaseDecreaseInFinancialInstrumentsUsedInOperatingActivities (1,928)us-gaap_IncreaseDecreaseInFinancialInstrumentsUsedInOperatingActivities
Receivables from clearing broker (6,228)us-gaap_IncreaseDecreaseInBrokerageReceivables (8,668)us-gaap_IncreaseDecreaseInBrokerageReceivables
Receivables from other broker-dealers (343)lts_IncreaseDecreaseInReceivablesFromOtherBrokerDealers (2,698)lts_IncreaseDecreaseInReceivablesFromOtherBrokerDealers
Other receivables, net 4,286us-gaap_IncreaseDecreaseInOtherReceivables (1,418)us-gaap_IncreaseDecreaseInOtherReceivables
Notes receivable from financial advisors, net (1,754)us-gaap_IncreaseDecreaseInNotesReceivables (10)us-gaap_IncreaseDecreaseInNotesReceivables
Cash surrender value of life insurance 666us-gaap_LifeInsuranceCorporateOrBankOwnedChangeInValue 844us-gaap_LifeInsuranceCorporateOrBankOwnedChangeInValue
Other assets (2,915)us-gaap_IncreaseDecreaseInOtherOperatingAssets 641us-gaap_IncreaseDecreaseInOtherOperatingAssets
Increase (decrease) in operating liabilities, net of effects of acquisition:    
Securities sold, but not yet purchased, at fair value 91us-gaap_IncreaseDecreaseInFinancialInstrumentsSoldNotYetPurchased 5,927us-gaap_IncreaseDecreaseInFinancialInstrumentsSoldNotYetPurchased
Accrued compensation (11,499)us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities (6,831)us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities
Accrued interest (350)us-gaap_IncreaseDecreaseInInterestPayableNet (276)us-gaap_IncreaseDecreaseInInterestPayableNet
Commissions and fees payable 61lts_IncreaseDecreaseInCommissionsAndFeesPayable 3,926lts_IncreaseDecreaseInCommissionsAndFeesPayable
Deferred compensation liability (423)us-gaap_IncreaseDecreaseInDeferredCompensation (599)us-gaap_IncreaseDecreaseInDeferredCompensation
Accounts payable and accrued liabilities (1,689)us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities (1,705)us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
Net cash used in operating activities (10,677)us-gaap_NetCashProvidedByUsedInOperatingActivities (36)us-gaap_NetCashProvidedByUsedInOperatingActivities
Cash flows from investing activities:    
Purchases of fixed assets (2,390)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (2,037)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Decrease (increase) in restricted assets (180)us-gaap_IncreaseDecreaseInRestrictedCash 100us-gaap_IncreaseDecreaseInRestrictedCash
Acquisition of SSN, net of cash acquired (16,919)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired 0us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired
Net cash used in investing activities (19,489)us-gaap_NetCashProvidedByUsedInInvestingActivities (1,937)us-gaap_NetCashProvidedByUsedInInvestingActivities
Cash flows from financing activities:    
Issuance of Series A preferred stock 69,476us-gaap_ProceedsFromIssuanceOfPreferredStockAndPreferenceStock 13,690us-gaap_ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
Issuance of common stock 814us-gaap_ProceedsFromIssuanceOfCommonStock 841us-gaap_ProceedsFromIssuanceOfCommonStock
Series A preferred stock dividends paid (6,332)us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock (3,225)us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock
Repurchases of common stock (1,589)us-gaap_PaymentsForRepurchaseOfCommonStock (904)us-gaap_PaymentsForRepurchaseOfCommonStock
Principal repayments on notes payable (12,399)us-gaap_RepaymentsOfNotesPayable (10,229)us-gaap_RepaymentsOfNotesPayable
Principal repayments under revolving credit facility, net (118)us-gaap_RepaymentsOfLinesOfCredit 0us-gaap_RepaymentsOfLinesOfCredit
Net cash provided by financing activities 49,852us-gaap_NetCashProvidedByUsedInFinancingActivities 173us-gaap_NetCashProvidedByUsedInFinancingActivities
Net increase (decrease) in cash and cash equivalents 19,686us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (1,800)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents, beginning of period 103,087us-gaap_CashAndCashEquivalentsAtCarryingValue 50,329us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents, end of period 122,773us-gaap_CashAndCashEquivalentsAtCarryingValue 48,529us-gaap_CashAndCashEquivalentsAtCarryingValue
Supplemental cash flow information:    
Interest paid 1,265us-gaap_InterestPaid 1,717us-gaap_InterestPaid
Taxes paid 1,118us-gaap_IncomeTaxesPaid 1,446us-gaap_IncomeTaxesPaid
Securities Service Network, Inc. (SSN)    
Cash flows from operating activities:    
Net (loss) income 636us-gaap_ProfitLoss
/ us-gaap_BusinessAcquisitionAxis
= lts_SecuritiesServiceNetworkInc.SSNMember
 
Statement [Line Items]    
Assets acquired 52,175us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets
/ us-gaap_BusinessAcquisitionAxis
= lts_SecuritiesServiceNetworkInc.SSNMember
 
Liabilities assumed (4,888)us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities
/ us-gaap_BusinessAcquisitionAxis
= lts_SecuritiesServiceNetworkInc.SSNMember
 
Total purchase price 47,287us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet
/ us-gaap_BusinessAcquisitionAxis
= lts_SecuritiesServiceNetworkInc.SSNMember
 
Cash paid in acquisition 25,000us-gaap_BusinessCombinationConsiderationTransferred1
/ us-gaap_BusinessAcquisitionAxis
= lts_SecuritiesServiceNetworkInc.SSNMember
 
Cash acquired in acquisition (8,081)us-gaap_CashAcquiredFromAcquisition
/ us-gaap_BusinessAcquisitionAxis
= lts_SecuritiesServiceNetworkInc.SSNMember
 
Net cash paid in acquisition 16,919us-gaap_PaymentsToAcquireBusinessesGross
/ us-gaap_BusinessAcquisitionAxis
= lts_SecuritiesServiceNetworkInc.SSNMember
 
Securities Service Network, Inc. (SSN) | Common Stock    
Statement [Line Items]    
Promissory note (18,697)us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1
/ us-gaap_BusinessAcquisitionAxis
= lts_SecuritiesServiceNetworkInc.SSNMember
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
 
Due to selling shareholders $ (3,590)lts_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedDuetoSellingShareholders
/ us-gaap_BusinessAcquisitionAxis
= lts_SecuritiesServiceNetworkInc.SSNMember
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember