Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Net and Comprehensive Income (Unaudited)

v3.3.0.814
Condensed Consolidated Statements of Net and Comprehensive Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Revenues:        
Real estate brokerage commissions $ 151,942 $ 140,220 $ 446,356 $ 368,246
Financing fees 10,865 7,864 30,046 22,348
Other revenues 3,069 2,805 9,497 9,150
Total revenues 165,876 150,889 485,899 399,744
Operating expenses:        
Cost of services 102,010 92,269 293,725 240,266
Selling, general, and administrative expense 35,646 34,086 109,064 99,570
Depreciation and amortization expense 802 813 2,389 2,399
Total operating expenses 138,458 127,168 405,178 342,235
Operating income 27,418 23,721 80,721 57,509
Other income (expense), net (464) (308) 23 (39)
Interest expense (380) (397) (1,349) (1,202)
Income before provision for income taxes 26,574 23,016 79,395 56,268
Provision for income taxes 11,398 9,493 32,994 23,167
Net income 15,176 13,523 46,401 33,101
Other comprehensive income:        
Unrealized gain (loss) on marketable securities, net of tax of $47, $0, $159 and $0 for the three months ended September 30, 2015 and 2014 and the nine months ended September 30, 2015 and 2014, respectively 56   (249)  
Foreign currency translation gain, net of tax of $140, $38, $226 and $40 for the three months ended September 30, 2015 and 2014 and the nine months ended September 30, 2015 and 2014, respectively 234 57 361 60
Total other comprehensive (loss) income 290 57 112 60
Comprehensive income $ 15,466 $ 13,580 $ 46,513 $ 33,161
Earnings per share:        
Basic $ 0.39 $ 0.35 $ 1.19 $ 0.85
Diluted $ 0.39 $ 0.35 $ 1.19 $ 0.85
Weighted average common shares outstanding:        
Basic 38,890 38,847 38,868 38,847
Diluted 39,160 39,011 39,051 38,949