Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

v3.8.0.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Revenues:        
Commissions $ 131,453 $ 127,515 $ 394,466 $ 380,523
Advisory fees 146,400 118,873 407,542 341,749
Investment banking 14,745 4,424 34,121 15,445
Principal transactions 107 173 685 686
Interest and dividends 7,303 2,799 16,945 7,198
Service fees and other income 22,301 20,539 70,377 64,293
Total revenues 322,309 274,323 924,136 809,894
Expenses:        
Commissions and fees 235,020 207,342 679,843 605,881
Compensation and benefits 45,131 35,984 125,131 108,871
Non-cash compensation 1,341 1,300 4,148 3,996
Brokerage, communication and clearance fees 4,173 4,331 13,647 12,304
Rent and occupancy, net of sublease revenue 2,305 2,334 7,165 7,021
Professional services 4,717 3,371 12,651 9,785
Interest 601 1,133 1,599 3,512
Depreciation and amortization 7,104 7,014 21,830 21,130
Acquisition-related expenses 55 936 320 1,003
Amortization of retention and forgivable loans 1,808 1,403 5,070 4,381
Other 15,394 16,014 51,492 46,704
Total expenses 317,649 281,162 922,896 824,588
Income (loss) before item shown below 4,660 (6,839) 1,240 (14,694)
Change in fair value of contingent consideration (3) (72) 86 (178)
Income (loss) before income taxes 4,657 (6,911) 1,326 (14,872)
Income tax expense 1,255 604 278 8,060
Net income (loss) 3,402 (7,515) 1,048 (22,932)
Net income (loss) attributable to noncontrolling interest 3 (1) (5) (33)
Net income (loss) attributable to the Company 3,399 (7,514) 1,053 (22,899)
Dividends declared on preferred stock (8,149) (7,780) (24,026) (22,514)
Net loss available to common shareholders $ (4,750) $ (15,294) $ (22,973) $ (45,413)
Net loss per common share available to common shareholders (basic) (in USD per share) $ (0.02) $ (0.08) $ (0.12) $ (0.25)
Net loss per common share available to common shareholders (diluted) (in USD per share) $ (0.02) $ (0.08) $ (0.12) $ (0.25)
Weighted average common shares used in computation of per share data:        
Basic (in shares) 192,912,643 181,032,730 192,498,380 181,023,737
Diluted (in shares) 192,912,643 181,032,730 192,498,380 181,023,737