| Segment Information |
Segment information for the three months ended June 30, 2012 and
2011 was as follows:
| |
|
Independent
Brokerage and
Advisory
Services(1) |
|
|
Ladenburg |
|
|
Corporate |
|
|
Total(1) |
|
|
|
2012 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Revenues |
|
$ |
149,988 |
|
|
$ |
13,322 |
|
|
$ |
75 |
|
|
$ |
163,385 |
|
|
| Pre-tax (loss) income |
|
|
(1,829 |
)(2) |
|
|
322 |
|
|
|
(3,432 |
)(3) |
|
|
(4,939 |
) |
(2) |
| Identifiable assets |
|
|
313,912 |
|
|
|
24,346 |
|
|
|
2,087 |
|
|
|
340,345 |
|
|
| Depreciation and amortization |
|
|
3,847 |
|
|
|
206 |
|
|
|
17 |
|
|
|
4,070 |
|
|
| Interest |
|
|
4,444 |
|
|
|
68 |
|
|
|
1,680 |
|
|
|
6,192 |
|
|
| Capital expenditures |
|
|
2,087 |
|
|
|
— |
|
|
|
7 |
|
|
|
2,094 |
|
|
| Non-cash compensation |
|
|
438 |
|
|
|
220 |
|
|
|
569 |
|
|
|
1,227 |
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2011 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Revenues |
|
$ |
47,132 |
|
|
$ |
13,185 |
|
|
$ |
(86 |
) |
|
$ |
60,231 |
|
|
| Pre-tax income (loss) |
|
|
1,816 |
|
|
|
525 |
|
|
|
(1,820 |
)(3) |
|
|
521 |
|
|
| Identifiable assets |
|
|
81,758 |
|
|
|
26,064 |
|
|
|
1,738 |
|
|
|
109,560 |
|
|
| Depreciation and amortization |
|
|
611 |
|
|
|
267 |
|
|
|
17 |
|
|
|
895 |
|
|
| Interest |
|
|
9 |
|
|
|
1 |
|
|
|
810 |
|
|
|
820 |
|
|
| Capital expenditures |
|
|
61 |
|
|
|
12 |
|
|
|
— |
|
|
|
73 |
|
|
| Non-cash compensation |
|
|
147 |
|
|
|
353 |
|
|
|
627 |
|
|
|
1,127 |
|
|
Segment information for the six months ended June 30, 2012 and 2011
was as follows:
|
|
|
Independent
Brokerage and
Advisory
Services(1) |
|
|
Ladenburg |
|
|
Corporate |
|
|
Total(1) |
|
|
|
2012 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Revenues |
|
$ |
293,792 |
|
|
$ |
24,198 |
|
|
$ |
110 |
|
|
$ |
318,100 |
|
|
| Pre-tax (loss) income |
|
|
(514 |
)(2) |
|
|
57 |
|
|
|
(6,853 |
)(3) |
|
|
(7,310 |
) |
(2) |
| Identifiable assets |
|
|
313,912 |
|
|
|
24,346 |
|
|
|
2,087 |
|
|
|
340,345 |
|
|
| Depreciation and amortization |
|
|
7,670 |
|
|
|
429 |
|
|
|
34 |
|
|
|
8,133 |
|
|
| Interest |
|
|
8,910 |
|
|
|
72 |
|
|
|
3,270 |
|
|
|
12,252 |
|
|
| Capital expenditures |
|
|
2,777 |
|
|
|
11 |
|
|
|
7 |
|
|
|
2,795 |
|
|
| Non-cash compensation |
|
|
966 |
|
|
|
492 |
|
|
|
1,133 |
|
|
|
2,591 |
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2011 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Revenues |
|
$ |
89,238 |
|
|
$ |
28,451 |
|
|
$ |
(256 |
) |
|
$ |
117,433 |
|
|
| Pre-tax income (loss) |
|
|
3,063 |
|
|
|
2,102 |
|
|
|
(3,889 |
)(3) |
|
|
1,276 |
|
|
| Identifiable assets |
|
|
81,758 |
|
|
|
26,064 |
|
|
|
1,738 |
|
|
|
109,560 |
|
|
| Depreciation and amortization |
|
|
1,221 |
|
|
|
533 |
|
|
|
34 |
|
|
|
1,788 |
|
|
| Interest |
|
|
15 |
|
|
|
82 |
|
|
|
1,551 |
|
|
|
1,648 |
|
|
| Capital expenditures |
|
|
88 |
|
|
|
21 |
|
|
|
— |
|
|
|
109 |
|
|
| Non-cash compensation |
|
|
282 |
|
|
|
609 |
|
|
|
1,193 |
|
|
|
2,084 |
|
|
|
(1) |
Amounts for 2012 include Securities
America which was acquired on November 4, 2011. |
|
(2) |
Includes $647 and $6,202 income
from change in the fair value of contingent consideration related
to Securities America acquisition for the three and six months
ended June 30, 2012, respectively. |
|
(3) |
Includes interest on revolving
credit and forgivable loan notes, compensation, professional fees
and other general and administrative expenses. |
|