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v2.4.0.8

Consolidated Statements of Operations (USD $) In Thousands, except Per Share data, unless otherwise specified | 12 Months Ended
--- | ---
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011
Revenues: |  |  |
ETF advisory fees | $ 148,594 | $ 84,024 | $ 64,366
Other income | 874 | 774 | 794
Total revenues | 149,468 | 84,798 | 65,160
Expenses: |  |  |
Compensation and benefits | 36,210 | 23,233 | 19,634
Fund management and administration | 35,076 | 23,020 | 19,882
Marketing and advertising | 8,309 | 5,363 | 4,475
Sales and business development | 6,474 | 3,586 | 3,603
Professional and consulting fees | 2,748 | 4,603 | 4,307
Occupancy, communications, and equipment | 2,784 | 1,419 | 1,127
Depreciation and amortization | 439 | 307 | 267
Third party sharing arrangements | 1,368 | 5,468 | 5,651
Other | 4,523 | 2,976 | 2,243
ETF shareholders proxy |  | 3,264 |
Litigation, net |  | 176 | 150
Exchange listing and offering |  | 353 | 729
Total expenses | 97,931 | 73,768 | 62,068
Income before provision for income taxes | 51,537 | 11,030 | 3,092
Provision for income taxes |  |  |
Net income | $ 51,537 | $ 11,030 | $ 3,092
Net income per share-basic | $ 0.41 | $ 0.09 | $ 0.03
Net income per share-diluted | $ 0.37 | $ 0.08 | $ 0.02
Weighted-average common shares-basic | 126,651 | 122,138 | 114,132
Weighted-average common shares-diluted | 139,797 | 137,968 | 135,539

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