Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Net and Comprehensive Income (Unaudited)

v3.7.0.1
Condensed Consolidated Statements of Net and Comprehensive Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Revenues:        
Real estate brokerage commissions $ 162,575 $ 170,118 $ 302,712 $ 323,782
Financing fees 12,709 10,726 22,763 19,459
Other revenues 5,087 2,543 8,108 4,418
Total revenues 180,371 183,387 333,583 347,659
Operating expenses:        
Cost of services 110,377 113,126 200,024 209,279
Selling, general and administrative expense 43,693 40,420 86,913 82,675
Depreciation and amortization expense 1,303 1,009 2,600 2,015
Total operating expenses 155,373 154,555 289,537 293,969
Operating income 24,998 28,832 44,046 53,690
Other income (expense), net 997 618 1,833 848
Interest expense (374) (384) (756) (775)
Income before provision for income taxes 25,621 29,066 45,123 53,763
Provision for income taxes 10,052 11,542 17,554 21,424
Net income 15,569 17,524 27,569 32,339
Other comprehensive income:        
Unrealized gains on marketable securities, net of tax of $111, $271, $176 and $721 for the three months ended June 30, 2017 and 2016 and the six months ended June 30, 2017 and 2016, respectively 174 426 221 1,106
Foreign currency translation (loss) gain, net of tax of $0 for each of the three months ended June 30, 2017 and 2016 and each of the six months ended June 30, 2017 and 2016 (23) (12) (25) 35
Net current-period other comprehensive income (loss) 151 414 196 1,141
Comprehensive income $ 15,720 $ 17,938 $ 27,765 $ 33,480
Earnings per share:        
Basic $ 0.40 $ 0.45 $ 0.71 $ 0.83
Diluted $ 0.40 $ 0.45 $ 0.70 $ 0.83
Weighted average common shares outstanding:        
Basic 39,002 38,918 38,976 38,905
Diluted 39,132 39,054 39,118 39,008