Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Net and Comprehensive Income (Unaudited)

v2.4.0.8
Condensed Consolidated Statements of Net and Comprehensive Income (Unaudited) (USD $)
In Thousands, except Per Share data, unless otherwise specified
 3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Revenues:        
Real estate brokerage commissions $ 123,278 $ 95,765 $ 228,026 $ 156,963
Financing fees 8,384 6,874 14,484 11,888
Other revenues 2,603 2,832 6,345 5,990
Total revenues 134,265 105,471 248,855 174,841
Operating expenses:        
Cost of services 79,601 61,456 147,997 102,677
Selling, general, and administrative expense 32,127 29,092 65,484 53,824
Depreciation and amortization expense 811 754 1,586 1,514
Total operating expenses 112,539 91,302 215,067 158,015
Operating income 21,726 14,169 33,788 16,826
Other income, net 330 7 269 249
Interest expense (401)   (805)  
Income before provision for income taxes 21,655 14,176 33,252 17,075
Provision for income taxes 8,859 6,167 13,674 7,428
Net income 12,796 8,009 19,578 9,647
Other comprehensive income (loss):        
Foreign currency translation (loss) gain, net of tax of $28, $0, $2, and $0 for the three months ended June 30, 2014 and 2013 and the six months ended June 30, 2014 and 2013, respectively (39)   3  
Total other comprehensive income (loss) (39)   3  
Comprehensive income $ 12,757 $ 8,009 $ 19,581 $ 9,647
Earnings per share        
Basic $ 0.33 [1]   $ 0.50 [1]  
Diluted $ 0.33 [1]   $ 0.50 [1]  
Weighted average common shares outstanding        
Basic 38,847 [1]   38,847 [1]  
Diluted 38,926 [1]   38,917 [1]  
[1] Earnings per share information has not been presented for periods prior to the IPO on October 31, 2013 as it was not meaningful.