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Condensed Consolidated Statements of Operations (unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Revenues        
Advisory revenues $ 88,051 $ 67,038 $ 174,820 $ 123,738
Investment revenues 445 231 1,219 460
Total revenues 88,496 67,269 176,039 124,198
Expenses        
Employee compensation and benefits 48,438 38,843 97,646 82,893
Occupancy and equipment rental 5,508 5,290 10,797 9,998
Depreciation and amortization 717 760 1,480 1,546
Information services 2,652 2,222 4,969 4,634
Professional fees 2,247 2,001 5,170 3,611
Travel related expenses 3,492 3,494 6,797 6,214
Other operating expenses 5,986 4,294 10,708 1,944
Total operating expenses 69,040 56,904 137,567 110,840
Total operating income 19,456 10,365 38,472 13,358
Interest expense 5,594 789 10,855 1,608
Income before taxes 13,862 9,576 27,617 11,750
Provision for taxes 3,349 3,331 10,736 6,251
Net income $ 10,513 $ 6,245 $ 16,881 $ 5,499
Average shares outstanding:        
Basic (shares) 26,992,652 31,933,830 28,545,545 32,151,409
Diluted (shares) 27,921,821 31,977,479 29,224,878 32,251,500
Earnings per share:        
Basic (usd per share) $ 0.39 $ 0.20 $ 0.59 $ 0.17
Diluted (usd per share) 0.38 0.20 0.58 0.17
Dividends declared and paid per share (usd per share) $ 0.05 $ 0.45 $ 0.10 $ 0.9