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v3.4.0.3

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended
--- | ---
Mar. 31, 2016 | Mar. 31, 2015
Revenues: |  |
ETF advisory fees | $ 60,615 | $ 59,869
Other income | 263 | 272
Total revenues | 60,878 | 60,141
Expenses: |  |
Compensation and benefits | 15,226 | 19,601
Fund management and administration | 10,044 | 10,168
Marketing and advertising | 3,832 | 3,076
Sales and business development | 2,447 | 1,900
Professional and consulting fees | 2,835 | 1,463
Occupancy, communications and equipment | 1,222 | 918
Depreciation and amortization | 316 | 220
Third-party sharing arrangements | 907 | 283
Acquisition contingent payment | 745 | 257
Other | 1,632 | 1,235
Total expenses | 39,206 | 39,121
Income before taxes | 21,672 | 21,020
Income tax expense | 9,600 | 8,958
Net income | $ 12,072 | $ 12,062
Net income per share - basic | $ 0.09 | $ 0.09
Net income per share - diluted | $ 0.09 | $ 0.09
Weighted-average common shares - basic | 137,599 | 134,075
Weighted-average common shares - diluted | 138,424 | 137,311
Cash dividends declared per common share | $ 0.08 | $ 0.08

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