Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Net and Comprehensive Income

v3.8.0.1
Consolidated Statements of Net and Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Revenues:      
Real estate brokerage commissions $ 649,393 $ 662,220 $ 632,574
Financing fees 49,653 43,444 42,558
Other revenues 20,654 11,786 13,923
Total revenues 719,700 717,450 689,055
Operating expenses:      
Cost of services 446,557 444,768 423,389
Selling, general, and administrative expense 171,648 161,794 147,710
Depreciation and amortization expense 5,363 4,387 3,305
Total operating expenses 623,568 610,949 574,404
Operating income 96,132 106,501 114,651
Other income (expense), net 4,590 2,134 443
Interest expense (1,496) (1,533) (1,726)
Income before provision for income taxes 99,226 107,102 113,368
Provision for income taxes 47,702 42,445 47,018
Net income 51,524 64,657 66,350
Other comprehensive income:      
Unrealized gains (losses) on marketable securities, net of tax of $139, $197 and $(394) for the years ended December 31, 2017, 2016 and 2015, respectively 193 313 (592)
Foreign currency translation gain (loss), net of tax of $0, $0 and $(90) for the years ended December 31, 2017, 2016 and 2015, respectively (63) 40 890
Net current-period other comprehensive income (loss) 130 353 298
Comprehensive income $ 51,654 $ 65,010 $ 66,648
Earnings per share:      
Basic $ 1.32 $ 1.66 $ 1.71
Diluted $ 1.32 $ 1.66 $ 1.69
Weighted average common shares outstanding:      
Basic 38,988 38,899 38,848
Diluted 39,100 39,035 39,162