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 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Revenues:        
Real estate brokerage commissions $ 140,220 $ 101,757 $ 368,246 $ 258,720
Financing fees 7,864 6,783 22,348 18,671
Other revenues 2,805 3,413 9,150 9,403
Total revenues 150,889 111,953 399,744 286,794
Operating expenses:        
Cost of services 92,269 67,718 240,266 170,395
Selling, general, and administrative expense 34,086 30,863 99,570 84,687
Depreciation and amortization expense 813 747 2,399 2,261
Total operating expenses 127,168 99,328 342,235 257,343
Operating income 23,721 12,625 57,509 29,451
Other (expense) income, net (308) 247 (39) 496
Interest expense (397)   (1,202)  
Income before provision for income taxes 23,016 12,872 56,268 29,947
Provision for income taxes 9,493 5,597 23,167 13,025
Net income 13,523 7,275 33,101 16,922
Other comprehensive income:        
Foreign currency translation gain, net of tax of $38, $0, $40, and $0 for the three months ended September 30, 2014 and 2013 and the nine months ended September 30, 2014 and 2013, respectively 57   60  
Total other comprehensive income 57   60  
Comprehensive income $ 13,580 $ 7,275 $ 33,161 $ 16,922
Earnings per share        
Basic $ 0.35 [1]   $ 0.85 [1]  
Diluted $ 0.35 [1]   $ 0.85 [1]  
Weighted average common shares outstanding        
Basic 38,847 [1]   38,847 [1]  
Diluted 39,011 [1]   38,949 [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.