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v3.7.0.1

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016
Revenues |  |  |  |
Investment management fees | $ 74,062 | $ 58,192 | $ 133,333 | $ 115,836
Distribution and service fees | 10,439 | 12,167 | 21,222 | 24,645
Administration and transfer agent fees | 9,476 | 9,499 | 18,457 | 19,497
Other income and fees | 155 | 227 | 896 | 402
Total revenues | 94,132 | 80,085 | 173,908 | 160,380
Operating Expenses |  |  |  |
Employment expenses | 42,992 | 33,065 | 82,633 | 69,042
Distribution and other asset-based expenses | 15,764 | 17,432 | 31,087 | 35,533
Other operating expenses | 20,236 | 12,457 | 33,462 | 23,222
Restructuring and severance | 8,894 | 2,391 | 8,894 | 2,391
Depreciation expense | 776 | 776 | 1,440 | 1,638
Amortization expense | 1,813 | 603 | 2,046 | 1,254
Total operating expenses | 90,948 | 71,342 | 160,677 | 138,887
Operating Income | 3,184 | 8,743 | 13,231 | 21,493
Other (Expense) Income |  |  |  |
Other income (expense), net | 47 | (15) | 693 | 213
Total other (expense) income, net | (90) | 6,944 | 5,297 | 9,044
Interest (Expense) Income |  |  |  |
Total interest (expense) income, net | (1,186) | (900) | 1,558 | 3,676
Income Before Income Taxes | 1,908 | 14,787 | 20,086 | 34,213
Income tax expense | 1,880 | 6,087 | 6,313 | 13,643
Net Income | 28 | 8,700 | 13,773 | 20,570
Noncontrolling interests | (333) | (612) | (1,051) | (119)
Net (Loss) Income Attributable to Stockholders | (305) | 8,088 | 12,722 | 20,451
Preferred stockholder dividends | (2,084) | 0 | (4,168) | 0
Net (Loss) Income Attributable to Common Stockholders | $ (2,389) | $ 8,088 | $ 8,554 | $ 20,451
(Loss) Earnings per share—Basic (in $ per share) | $ (0.34) | $ 0.99 | $ 1.26 | $ 2.48
(Loss) Earnings per Share—Diluted (in $ per share) | (0.34) | 0.97 | 1.22 | 2.43
Cash Dividends Declared per Preferred Share (in $ per share) | 1.81 | 0 | 3.625 | 0
Cash Dividends Declared per Common Share (in $ per share) | $ 0.45 | $ 0.45 | $ 0.90 | $ 0.90
Weighted Average Shares Outstanding—Basic (in shares) | 7,064 | 8,170 | 6,804 | 8,257
Weighted Average Shares Outstanding—Diluted (in shares) | 7,064 | 8,314 | 7,020 | 8,410
Consolidated investment products |  |  |  |
Operating Expenses |  |  |  |
Total operating expenses | $ 473 | $ 4,618 | $ 1,115 | $ 5,807
Other (Expense) Income |  |  |  |
Realized and unrealized (loss) gain on investments, net | (1,424) | 3,678 | 3,020 | 6,208
Interest (Expense) Income |  |  |  |
Interest expense | (2,995) | (5,668) | (5,852) | (6,400)
Interest and dividend income | 5,102 | 4,278 | 10,758 | 9,445
Consolidated entity excluding consolidated investment products |  |  |  |
Other (Expense) Income |  |  |  |
Realized and unrealized (loss) gain on investments, net | 1,287 | 3,281 | 1,584 | 2,623
Interest (Expense) Income |  |  |  |
Interest expense | (3,739) | (129) | (3,982) | (261)
Interest and dividend income | $ 446 | $ 619 | $ 634 | $ 892

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