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 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Revenues:        
Revenue $ 199,402 $ 180,371 $ 373,943 $ 333,583
Operating expenses:        
Cost of services 119,869 110,377 221,518 200,024
Selling, general and administrative expense 49,080 43,693 97,133 86,913
Depreciation and amortization expense 1,503 1,303 2,878 2,600
Total operating expenses 170,452 155,373 321,529 289,537
Operating income 28,950 24,998 52,414 44,046
Other income (expense), net 1,724 997 2,933 1,833
Interest expense (352) (374) (712) (756)
Income before provision for income taxes 30,322 25,621 54,635 45,123
Provision for income taxes 8,155 10,052 14,457 17,554
Net income 22,167 15,569 40,178 27,569
Other comprehensive (loss) income:        
Unrealized (losses) gains on marketable securities, net of tax of $(57), $111, $(221) and $176 for the three months ended June 30, 2018 and 2017 and the six months ended June 30, 2018 and 2017, respectively (164) 174 (656) 221
Foreign currency translation gain (loss), net of tax of $0 for each of the three months ended June 30, 2018 and 2017 and each of the six months ended June 30, 2018 and 2017 34 (23) 73 (25)
Total other comprehensive (loss) income (130) 151 (583) 196
Comprehensive income $ 22,037 $ 15,720 $ 39,595 $ 27,765
Earnings per share:        
Basic $ 0.57 $ 0.40 $ 1.03 $ 0.71
Diluted $ 0.56 $ 0.40 $ 1.02 $ 0.70
Weighted average common shares outstanding:        
Basic 39,154 39,002 39,124 38,976
Diluted 39,385 39,132 39,298 39,118
Real Estate Brokerage Commissions [Member]        
Revenues:        
Revenue $ 181,640 $ 162,575 $ 344,165 $ 302,712
Financing Fees [Member]        
Revenues:        
Revenue 15,563 12,709 25,287 22,763
Other Revenues [Member]        
Revenues:        
Revenue $ 2,199 $ 5,087 $ 4,491 $ 8,108