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v2.4.0.8

Condensed Consolidated Statements of Operations (USD $) In Thousands, except Per Share data, unless otherwise specified | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2013 | Jun. 30, 2012
Revenues |  |  |  |
Investment management fees | $ 64,475 | $ 44,878 | $ 122,252 | $ 86,725
Distribution and service fees | 19,324 | 13,587 | 36,685 | 26,308
Administration and transfer agent fees | 12,061 | 8,023 | 22,756 | 15,425
Other income and fees | 280 | 330 | 615 | 758
Total revenues | 96,140 | 66,818 | 182,308 | 129,216
Operating Expenses |  |  |  |
Employment expenses | 32,878 | 25,507 | 65,289 | 51,825
Distribution and administration expenses | 24,252 | 15,796 | 45,880 | 34,719
Other operating expenses | 10,283 | 9,035 | 19,240 | 16,928
Other operating expenses of consolidated sponsored investment products | 132 |  | 316 |
Restructuring and severance |  | 794 | 203 | 794
Depreciation and other amortization | 597 | 436 | 1,172 | 759
Amortization expense | 1,116 | 997 | 2,226 | 1,985
Total operating expenses | 69,258 | 52,565 | 134,326 | 107,010
Operating Income | 26,882 | 14,253 | 47,982 | 22,206
Other Income (Expense) |  |  |  |
Realized and unrealized (loss) gain on trading securities, net | (223) | (214) | 602 | 1,010
Realized and unrealized loss on investments of consolidated sponsored investment products, net | (3,156) |  | (2,784) |
Other expense, net | (11) |  | (29) |
Total other (expense) income, net | (3,390) | (214) | (2,211) | 1,010
Interest Income (Expense) |  |  |  |
Interest expense | (206) | (274) | (427) | (475)
Interest and dividend income | 203 | 171 | 300 | 277
Interest and dividend income of investments of consolidated sponsored investment products | 612 |  | 1,092 |
Total interest income (expense), net | 609 | (103) | 965 | (198)
Income Before Income Taxes | 24,101 | 13,936 | 46,736 | 23,018
Income tax expense | 9,318 | 5,569 | 17,768 | 9,201
Net Income | 14,783 | 8,367 | 28,968 | 13,817
Noncontrolling interests | 602 |  | 377 |
Allocation of earnings to preferred stockholders |  |  |  | (64)
Net Income Attributable to Common Stockholders | $ 15,385 | $ 8,367 | $ 29,345 | $ 13,753
Earnings per share - Basic | $ 1.97 | $ 1.08 | $ 3.75 | $ 1.81
Earnings per share - Diluted | $ 1.91 | $ 1.04 | $ 3.64 | $ 1.71
Weighted Average Shares Outstanding - Basic (in thousands) | 7,821 | 7,763 | 7,821 | 7,615
Weighted Average Shares Outstanding - Diluted (in thousands) | 8,058 | 8,081 | 8,073 | 8,023

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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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1448-109256 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Weighted-Average Number of Common Shares Outstanding -URI http://asc.fasb.org/extlink&oid=6528421 + Details
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