Consolidated Statements Of Operations (USD $) In Thousands, except Per Share data | 3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2011 | Sep. 30, 2010 | Sep. 30, 2011 | Sep. 30, 2010 | |
| Revenues | ||||
| ETF advisory fees | $ 17,554 | $ 9,860 | $ 48,341 | $ 27,456 |
| Other income | 182 | 270 | 644 | 743 |
| Total revenues | 17,736 | 10,130 | 48,985 | 28,199 |
| Expenses | ||||
| Compensation and benefits | 5,085 | 4,405 | 14,912 | 14,260 |
| Fund management and administration | 5,093 | 3,569 | 14,991 | 10,272 |
| Marketing and advertising | 911 | 745 | 3,240 | 2,331 |
| Sales and business development | 954 | 766 | 2,612 | 1,972 |
| Professional and consulting fees | 1,473 | 795 | 3,922 | 2,526 |
| Occupancy, communication and equipment | 288 | 273 | 846 | 829 |
| Depreciation and amortization | 68 | 80 | 200 | 235 |
| Third party sharing arrangements | 1,794 | 609 | 4,434 | 1,485 |
| Other | 711 | 405 | 1,625 | 1,258 |
| Total expenses | 16,377 | 11,647 | 46,782 | 35,168 |
| Income/(loss) before provision for income taxes | 1,359 | (1,517) | 2,203 | (6,969) |
| Provision for income taxes | 625 | 1,013 | ||
| Tax benefit | (625) | (1,013) | ||
| Net income/(loss) | $ 1,359 | $ (1,517) | $ 2,203 | $ (6,969) |
| Net income/(loss) per share-basic | $ 0.01 | $ (0.01) | $ 0.02 | $ (0.06) |
| Net income/(loss) per share-diluted | $ 0.01 | $ (0.01) | $ 0.02 | $ (0.06) |
| Weighted average common shares-basic | 114,238 | 112,424 | 113,886 | 111,675 |
| Weighted average common shares-diluted | 136,075 | 112,424 | 135,615 | 111,675 |
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- Definition Business development involves the development of products and services, their delivery, design and their implementation. Business development includes a number of techniques designed to grow an economic enterprise. Such techniques include, but are not limited to, assessments of marketing opportunities and target markets, intelligence gathering on customers and competitors, generating leads for possible sales, follow-up sales activity, formal proposal writing and business model design. Business development involves evaluating a business and then realizing its full potential, using such tools as marketing, sales, information management and customer service. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate amount of communications, data processing and occupancy expenses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Sum of operating profit and nonoperating income or expense before Income or Loss from equity method investments, income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Fees earned for providing investment advice, research and other services for customers. Such services may include the investment management of mutual funds and separate accounts, and are generally based upon the size of the funds managed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate amount of expenditures for salaries, wages, profit sharing and incentive compensation, and other employee benefits, including equity-based compensation, and pension and other postretirement benefit expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The total expense recognized in the period for promotion, public relations, and brand or product advertising. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense.
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- Details
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- Definition This element represents a sum total of expenses not separately reflected on the income statement for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Reflects the sum of all other revenue and income recognized by the entity in the period not otherwise specified in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition A fee charged for services from professionals such as doctors, lawyers and accountants. The term is often expanded to include other professions, for example, pharmacists charging to maintain a medicinal profile of a client or customer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Fund management and administration.
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- Definition Provision for income taxes.
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- Definition Third party sharing arrangements.
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