Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Net and Comprehensive Income (Unaudited)

v3.2.0.727
Condensed Consolidated Statements of Net and Comprehensive Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Revenues:        
Real estate brokerage commissions $ 160,221 $ 123,278 $ 294,414 $ 228,026
Financing fees 11,150 8,384 19,181 14,484
Other revenues 2,111 2,603 6,428 6,345
Total revenues 173,482 134,265 320,023 248,855
Operating expenses:        
Cost of services 105,557 79,601 191,715 147,997
Selling, general, and administrative expense 37,589 32,127 73,418 65,484
Depreciation and amortization expense 807 811 1,587 1,586
Total operating expenses 143,953 112,539 266,720 215,067
Operating income 29,529 21,726 53,303 33,788
Other income (expense), net 362 330 487 269
Interest expense (386) (401) (969) (805)
Income before provision for income taxes 29,505 21,655 52,821 33,252
Provision for income taxes 11,949 8,859 21,596 13,674
Net income 17,556 12,796 31,225 19,578
Other comprehensive (loss) income:        
Unrealized (loss) on marketable securities, net of tax of $332, $0, $206 and $0 for the three months ended June 30, 2015 and 2014 and the six months ended June 30, 2015 and 2014, respectively (493)   (305)  
Foreign currency translation (loss) gain, net of tax of $31, $28, $86 and $2 for the three months ended June 30, 2015 and 2014 and the six months ended June 30, 2015 and 2014, respectively (46) (39) 127 3
Total other comprehensive (loss) income (539) (39) (178) 3
Comprehensive income $ 17,017 $ 12,757 $ 31,047 $ 19,581
Earnings per share:        
Basic $ 0.45 $ 0.33 $ 0.80 $ 0.50
Diluted $ 0.45 $ 0.33 $ 0.80 $ 0.50
Weighted average common shares outstanding:        
Basic 38,870 38,847 38,858 38,847
Diluted 39,057 38,926 39,006 38,917