Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Net and Comprehensive Income

v3.6.0.2
Consolidated Statements of Net and Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Revenues:      
Real estate brokerage commissions $ 662,220 $ 632,574 $ 524,951
Financing fees 43,444 42,558 33,881
Other revenues 11,786 13,923 13,356
Total revenues 717,450 689,055 572,188
Operating expenses:      
Cost of services 444,768 423,389 350,102
Selling, general, and administrative expense 161,794 147,710 134,274
Depreciation and amortization expense 4,387 3,305 3,206
Total operating expenses 610,949 574,404 487,582
Operating income 106,501 114,651 84,606
Other income (expense), net 2,134 443 28
Interest expense (1,533) (1,726) (1,651)
Income before provision for income taxes 107,102 113,368 82,983
Provision for income taxes 42,445 47,018 33,452
Net income 64,657 66,350 49,531
Other comprehensive income:      
Unrealized gain (loss) on marketable securities, net of tax of $197, $(394) and $16 for the years ended December 31, 2016, 2015 and 2014, respectively 313 (592) 24
Foreign currency translation gain (loss), net of tax of $0, $(90) and $90 for the years ended December 31, 2016, 2015 and 2014, respectively 40 890 135
Net current-period other (loss) comprehensive income 353 298 159
Comprehensive income $ 65,010 $ 66,648 $ 49,690
Earnings per share:      
Basic $ 1.66 $ 1.71 $ 1.27
Diluted $ 1.66 $ 1.69 $ 1.27
Weighted average common shares outstanding:      
Basic 38,899 38,848 38,851
Diluted 39,035 39,162 38,978