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Condensed Consolidated Statements of Operations (Unaudited) (USD $) In Thousands, except Per Share data, unless otherwise specified | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2012 | Sep. 30, 2011
Revenues |  |  |  |
Investment management fees | $ 47,985 | $ 37,053 | $ 134,710 | $ 97,365
Distribution and service fees | 14,661 | 11,435 | 40,969 | 32,295
Administration and transfer agent fees | 8,774 | 6,363 | 24,199 | 17,353
Other income and fees | 531 | 606 | 1,289 | 1,467
Total revenues | 71,951 | 55,457 | 201,167 | 148,480
Operating Expenses |  |  |  |
Employment expenses | 25,899 | 25,526 | 77,724 | 68,145
Distribution and administration expenses | 17,764 | 23,250 | 52,483 | 46,694
Other operating expenses | 8,346 | 7,436 | 25,274 | 22,722
Other operating expenses of consolidated sponsored investment products | 154 | 0 | 154 | 0
Restructuring and severance | 555 | 7 | 1,349 | 748
Depreciation and other amortization | 435 | 453 | 1,194 | 1,427
Intangible asset amortization | 1,031 | 978 | 3,016 | 3,035
Total operating expenses | 54,184 | 57,650 | 161,194 | 142,771
Operating Income (Loss) | 17,767 | (2,193) | 39,973 | 5,709
Other Income (Expense) |  |  |  |
Realized and unrealized gain (loss) on trading securities, net | 629 | (1,576) | 1,639 | (737)
Realized and unrealized gain on investments of consolidated sponsored investment products, net | 541 | 0 | 541 | 0
Other income (expense), net | (16) | 4 | (16) | (208)
Total other income (expense), net | 1,154 | (1,572) | 2,164 | (945)
Interest Income (Expense) |  |  |  |
Interest expense | (196) | (189) | (671) | (592)
Interest and dividend income | 98 | 81 | 375 | 192
Interest and dividend income of investments of consolidated sponsored investment products | 98 | 0 | 98 | 0
Total interest expense, net | 0 | (108) | (198) | (400)
Income (Loss) Before Income Taxes | 18,921 | (3,873) | 41,939 | 4,364
Income tax expense (benefit) | 7,279 | (1,095) | 16,480 | (391)
Net Income (Loss) | 11,642 | (2,778) | 25,459 | 4,755
Noncontrolling interests | 0 | 0 | 0 | 0
Preferred stockholder dividends | 0 | (705) | 0 | (2,113)
Allocation of earnings to preferred stockholders | 0 | 0 | (64) | (476)
Net Income (Loss) Attributable to Common Stockholders | $ 11,642 | $ (3,483) | $ 25,395 | $ 2,166
Earnings (Loss) per share - Basic | $ 1.48 | $ (0.56) | $ 3.30 | $ 0.35
Earnings (Loss) per share - Diluted | $ 1.43 | $ (0.56) | $ 3.15 | $ 0.31
Weighted Average Shares Outstanding - Basic (in thousands) | 7,843 | 6,219 | 7,692 | 6,222
Weighted Average Shares Outstanding - Diluted (in thousands) | 8,117 | 6,219 | 8,055 | 6,895

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