Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF NET AND COMPREHENSIVE INCOME

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CONDENSED CONSOLIDATED STATEMENTS OF NET AND COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Revenues:    
Real estate brokerage commissions $ 162,525 $ 140,137
Financing fees 9,724 10,054
Other revenues 2,292 3,021
Total revenues 174,541 153,212
Operating expenses:    
Cost of services 101,649 89,647
Selling, general, and administrative expense 48,053 43,220
Depreciation and amortization expense 1,375 1,297
Total operating expenses 151,077 134,164
Operating income 23,464 19,048
Other income (expense), net 1,209 836
Interest expense (360) (382)
Income before provision for income taxes 24,313 19,502
Provision for income taxes 6,302 7,502
Net income 18,011 12,000
Other comprehensive (loss) income:    
Unrealized (losses) gains on marketable securities, net of tax of $(164) and $65 for the three months ended March 31, 2018 and 2017, respectively (492) 47
Foreign currency translation gain (loss), net of tax of $0 for each of the three months ended March 31, 2018 and 2017 39 (2)
Total other comprehensive (loss) income (453) 45
Comprehensive income $ 17,558 $ 12,045
Earnings per share:    
Basic $ 0.46 $ 0.31
Diluted $ 0.46 $ 0.31
Weighted average common shares outstanding:    
Basic 39,095 38,948
Diluted 39,250 39,108