Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Net and Comprehensive Income (Unaudited)

v3.8.0.1
Condensed Consolidated Statements of Net and Comprehensive Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Revenues:        
Real estate brokerage commissions $ 169,357 $ 165,695 $ 472,069 $ 489,477
Financing fees 11,368 11,320 34,131 30,779
Other revenues 2,616 3,619 10,724 8,037
Total revenues 183,341 180,634 516,924 528,293
Operating expenses:        
Cost of services 114,803 113,852 314,827 323,131
Selling, general and administrative expense 42,480 40,728 129,393 123,403
Depreciation and amortization expense 1,375 1,149 3,975 3,164
Total operating expenses 158,658 155,729 448,195 449,698
Operating income 24,683 24,905 68,729 78,595
Other income (expense), net 1,172 719 3,005 1,567
Interest expense (370) (380) (1,126) (1,155)
Income before provision for income taxes 25,485 25,244 70,608 79,007
Provision for income taxes 10,010 10,100 27,564 31,524
Net income 15,475 15,144 43,044 47,483
Other comprehensive income:        
Unrealized gains (losses) on marketable securities, net of tax of $66, $(37), $242 and $684 for the three months ended September 30, 2017 and 2016 and the nine months ended September 30, 2017 and 2016, respectively 104 (56) 325 1,050
Foreign currency translation (loss) gain, net of tax of $0 for each of the three months ended September 30, 2017 and 2016 and each of the nine months ended September 30, 2017 and 2016 (40) (3) (65) 32
Net current-period other comprehensive income (loss) 64 (59) 260 1,082
Comprehensive income $ 15,539 $ 15,085 $ 43,304 $ 48,565
Earnings per share:        
Basic $ 0.40 $ 0.39 $ 1.10 $ 1.22
Diluted $ 0.39 $ 0.39 $ 1.10 $ 1.22
Weighted average common shares outstanding:        
Basic 39,033 38,939 38,995 38,916
Diluted 39,204 39,122 39,136 39,034