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v3.10.0.1

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017
Revenues |  |  |  |
Revenues | $ 132,932 | $ 94,132 | $ 261,960 | $ 173,908
Operating Expenses |  |  |  |
Employment expenses | 54,868 | 42,992 | 115,564 | 82,633
Distribution and other asset-based expenses | 23,721 | 15,764 | 46,012 | 31,087
Other operating expenses | 19,128 | 20,236 | 35,990 | 33,462
Restructuring and severance | 0 | 8,894 | 0 | 8,894
Depreciation and other amortization | 1,100 | 776 | 2,115 | 1,440
Amortization expense | 5,024 | 1,813 | 10,060 | 2,046
Total operating expenses | 105,624 | 90,948 | 212,035 | 160,677
Operating Income (Loss) | 27,308 | 3,184 | 49,925 | 13,231
Other Income (Expense) |  |  |  |
Other income (expense), net | 455 | 47 | 1,774 | 693
Total other income (expense), net | (364) | (90) | 3,652 | 5,297
Interest Income (Expense) |  |  |  |
Total interest income (expense), net | 5,750 | (1,186) | 9,467 | 1,558
Income (Loss) Before Income Taxes | 32,694 | 1,908 | 63,044 | 20,086
Income tax expense (benefit) | 9,465 | 1,880 | 15,988 | 6,313
Net Income (Loss) | 23,229 | 28 | 47,056 | 13,773
Noncontrolling interests | (159) | (333) | (686) | (1,051)
Net Income (Loss) Attributable to Stockholders | 23,070 | (305) | 46,370 | 12,722
Preferred stockholder dividends | (2,084) | (2,084) | (4,168) | (4,168)
Net Income (Loss) Attributable to Common Stockholders | $ 20,986 | $ (2,389) | $ 42,202 | $ 8,554
Earnings (Loss) per share—Basic (in $ per share) | $ 2.91 | $ (0.34) | $ 5.86 | $ 1.26
Earnings (Loss) per Share—Diluted (in $ per share) | 2.75 | (0.34) | 5.52 | 1.22
Cash Dividends Declared per Preferred Share (in $ per share) | 1.81 | 1.81 | 3.63 | 3.63
Cash Dividends Declared per Common Share (in $ per share) | $ 0.45 | $ 0.45 | $ 0.90 | $ 0.90
Weighted Average Shares Outstanding—Basic (in shares) | 7,211 | 7,064 | 7,204 | 6,804
Weighted Average Shares Outstanding—Diluted (in shares) | 8,401 | 7,064 | 8,396 | 7,020
Consolidated investment products |  |  |  |
Operating Expenses |  |  |  |
Total operating expenses | $ 1,783 | $ 473 | $ 2,294 | $ 1,115
Other Income (Expense) |  |  |  |
Realized and unrealized gain (loss) on investments, net | (1,779) | (1,424) | 480 | 3,020
Interest Income (Expense) |  |  |  |
Interest expense | (15,278) | (2,995) | (29,827) | (5,852)
Interest and dividend income | 23,679 | 5,102 | 45,082 | 10,758
Consolidated entity excluding consolidated investment products |  |  |  |
Other Income (Expense) |  |  |  |
Realized and unrealized gain (loss) on investments, net | 960 | 1,287 | 1,398 | 1,584
Interest Income (Expense) |  |  |  |
Interest expense | (4,469) | (3,739) | (8,327) | (3,982)
Interest and dividend income | 1,818 | 446 | 2,539 | 634
Investment management fees |  |  |  |
Revenues |  |  |  |
Revenues | 103,168 | 74,062 | 203,644 | 133,333
Distribution and service fees |  |  |  |
Revenues |  |  |  |
Revenues | 13,549 | 10,439 | 26,156 | 21,222
Administration and shareholder service fees |  |  |  |
Revenues |  |  |  |
Revenues | 15,967 | 9,476 | 31,705 | 18,457
Other income and fees |  |  |  |
Revenues |  |  |  |
Revenues | $ 248 | $ 155 | $ 455 | $ 896

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