Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Net and Comprehensive Income (Unaudited)

v3.7.0.1
Condensed Consolidated Statements of Net and Comprehensive Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Revenues:    
Real estate brokerage commissions $ 140,137 $ 153,664
Financing fees 10,054 8,733
Other revenues 3,021 1,875
Total revenues 153,212 164,272
Operating expenses:    
Cost of services 89,647 96,153
Selling, general, and administrative expense 43,220 42,255
Depreciation and amortization expense 1,297 1,006
Total operating expenses 134,164 139,414
Operating income 19,048 24,858
Other income (expense), net 836 230
Interest expense (382) (391)
Income before provision for income taxes 19,502 24,697
Provision for income taxes 7,502 9,882
Net income 12,000 14,815
Other comprehensive income:    
Unrealized gains on marketable securities, net of tax of $65 and $450 for the three months ended March 31, 2017 and 2016, respectively 47 680
Foreign currency translation (loss) gain, net of tax of $0 for each of the three months ended March 31, 2017 and 2016 (2) 47
Net current-period other comprehensive income (loss) 45 727
Comprehensive income $ 12,045 $ 15,542
Earnings per share:    
Basic $ 0.31 $ 0.38
Diluted $ 0.31 $ 0.38
Weighted average common shares outstanding:    
Basic 38,948 38,891
Diluted 39,108 38,956