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Condensed Consolidated Statements of Operations (unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Revenues        
Advisory revenues $ 86,495 $ 48,080 $ 261,315 $ 171,818
Investment revenues 308 12 1,527 472
Total revenues 86,803 48,092 262,842 172,290
Expenses        
Employee compensation and benefits 47,409 37,178 145,055 120,071
Occupancy and equipment rental 5,573 5,300 16,370 15,298
Depreciation and amortization 689 777 2,169 2,323
Information services 2,380 2,459 7,349 7,093
Professional fees 2,642 1,877 7,812 5,488
Travel related expenses 3,439 3,488 10,236 9,702
Other operating expenses 3,947 6,418 14,655 8,362
Total operating expenses 66,079 57,497 203,646 168,337
Total operating income (loss) 20,724 (9,405) 59,196 3,953
Interest expense 5,696 873 16,551 2,481
Income (loss) before taxes 15,028 (10,278) 42,645 1,472
Provision (benefit) for taxes 3,811 (4,366) 14,547 1,885
Net income (loss) $ 11,217 $ (5,912) $ 28,098 $ (413)
Average shares outstanding:        
Basic (shares) 24,870,779 32,280,535.000 27,503,942 32,371,356
Diluted (shares) 26,373,107 32,280,535.000 28,441,476 32,371,356
Earnings (loss) per share:        
Basic (usd per share) $ 0.45 $ (0.18) $ 1.02 $ (0.01)
Diluted (usd per share) $ 0.43 $ (0.18) $ 0.99 $ (0.01)