Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v2.4.0.8
Condensed Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Jun. 30, 2014
Dec. 31, 2013
Current assets:    
Cash and cash equivalents $ 104,613 $ 100,952
Commissions and other receivables, net of allowance for doubtful accounts of $73 and $99 at June 30, 2014 and December 31, 2013, respectively 5,827 4,115
Employee notes receivable 223 229
Prepaid expenses and other current assets 6,273 5,204
Deferred tax assets, net 6,838 8,663
Total current assets 123,774 119,163
Prepaid rent 4,236 4,999
Investments held in rabbi trust 4,280 4,067
Property and equipment, net of accumulated depreciation of $20,438 and $19,412 at June 30, 2014 and December 31, 2013, respectively 8,261 8,560
Employee notes receivable 199 189
Deferred tax assets, net 27,446 27,185
Other assets 3,920 3,146
Total assets 172,116 167,309
Current liabilities:    
Accounts payable and accrued expenses 6,330 6,911
Accounts payable and accrued expenses - related party 74 506
Income tax payable 4,937 6,459
Notes payable to former stockholders 894 851
Commissions payable 15,017 25,086
Accrued bonuses and other employee related expenses 13,656 16,947
Total current liabilities 40,908 56,760
Deferred compensation and commissions 30,468 32,177
Notes payable to former stockholders 10,610 11,504
Other liabilities 5,350 4,371
Total liabilities 87,336 104,812
Stockholders' equity:    
Preferred stock, $0.0001 par value: Authorized shares - 25,000,000; issued and outstanding shares - none at June 30, 2014 and December 31, 2013, respectively      
Common Stock $0.0001 par value: Authorized shares - 150,000,000; issued and outstanding shares - 36,623,781 and 36,600,897 at June 30, 2014 and December 31, 2013, respectively 4 4
Additional paid-in capital 73,143 70,445
Stock notes receivable from employees (9) (13)
Retained earnings (accumulated deficit) 11,639 (7,939)
Accumulated other comprehensive income 3  
Total stockholders' equity 84,780 62,497
Total liabilities and stockholders' equity $ 172,116 $ 167,309