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
Sep. 30, 2014
Dec. 31, 2013
Current assets:    
Cash and cash equivalents $ 134,010 $ 100,952
Commissions and other receivables, net of allowance for doubtful accounts of $62 and $99 at September 30, 2014 and December 31, 2013, respectively 5,686 4,115
Employee notes receivable 220 229
Prepaid expenses and other current assets 5,475 5,204
Deferred tax assets, net 9,400 8,663
Total current assets 154,791 119,163
Prepaid rent 4,067 4,999
Investments held in rabbi trust 4,225 4,067
Property and equipment, net of accumulated depreciation of $14,963 and $19,412 at September 30, 2014 and December 31, 2013, respectively 7,829 8,560
Employee notes receivable 199 189
Deferred tax assets, net 24,967 27,185
Other assets 4,143 3,146
Total assets 200,221 167,309
Current liabilities:    
Accounts payable and accrued expenses 9,733 6,911
Accounts payable and accrued expenses - related party 172 506
Income tax payable 4,916 6,459
Notes payable to former stockholders 894 851
Commissions payable 17,195 25,086
Accrued bonuses and other employee related expenses 21,868 16,947
Total current liabilities 54,778 56,760
Deferred compensation and commissions 32,578 32,177
Notes payable to former stockholders 10,610 11,504
Other liabilities 2,473 4,371
Total liabilities 100,439 104,812
Stockholders' equity:    
Preferred stock, $0.0001 par value: Authorized shares - 25,000,000; issued and outstanding shares - none at September 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 September 30, 2014 and December 31, 2013, respectively 4 4
Additional paid-in capital 74,560 70,445
Stock notes receivable from employees (4) (13)
Retained earnings (accumulated deficit) 25,162 (7,939)
Accumulated other comprehensive income 60  
Total stockholders' equity 99,782 62,497
Total liabilities and stockholders' equity $ 200,221 $ 167,309