Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Net and Comprehensive Income (Unaudited)

v3.5.0.2
Condensed Consolidated Statements of Net and Comprehensive Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Revenues:        
Real estate brokerage commissions $ 165,695 $ 151,942 $ 489,477 $ 446,356
Financing fees 11,320 10,865 30,779 30,046
Other revenues 3,619 3,069 8,037 9,497
Total revenues 180,634 165,876 528,293 485,899
Operating expenses:        
Cost of services 113,852 102,010 323,131 293,725
Selling, general, and administrative expense 40,728 35,646 123,403 109,064
Depreciation and amortization expense 1,149 802 3,164 2,389
Total operating expenses 155,729 138,458 449,698 405,178
Operating income 24,905 27,418 78,595 80,721
Other income (expense), net 719 (464) 1,567 23
Interest expense (380) (380) (1,155) (1,349)
Income before provision for income taxes 25,244 26,574 79,007 79,395
Provision for income taxes 10,100 11,398 31,524 32,994
Net income 15,144 15,176 47,483 46,401
Other comprehensive (loss) income:        
Unrealized (loss) gain on marketable securities, net of tax of $(37), $47, $684 and $(159) for the three months ended September 30, 2016, and 2015 and the nine months ended September 30, 2016 and 2015, respectively (56) 56 1,050 (249)
Foreign currency translation (loss) gain, net of tax of $0, $140, $0 and $226 for the three months ended September 30, 2016, and 2015 and the nine months ended September 30, 2016 and 2015, respectively (3) 234 32 361
Total other comprehensive (loss) income (59) 290 1,082 112
Comprehensive income $ 15,085 $ 15,466 $ 48,565 $ 46,513
Earnings per share:        
Basic $ 0.39 $ 0.39 $ 1.22 $ 1.19
Diluted $ 0.39 $ 0.39 $ 1.22 $ 1.19
Weighted average common shares outstanding:        
Basic 38,939 38,890 38,916 38,868
Diluted 39,122 39,160 39,034 39,051