XML 19 R4.htm IDEA: XBRL DOCUMENT 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