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Condensed Consolidated Statements of Operations (unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues        
Revenues $ 56,045 $ 87,036 $ 170,930 $ 194,315
Operating Expenses        
Employee compensation and benefits 46,754 43,376 147,590 134,503
Occupancy and equipment rental 7,539 5,608 20,296 16,660
Depreciation and amortization 551 632 1,719 1,944
Information services 2,650 2,501 7,706 7,509
Professional fees 3,149 2,594 7,370 7,146
Travel related expenses 19 3,242 2,525 10,101
Other operating expenses 2,464 3,878 8,586 11,876
Total operating expenses 63,126 61,831 195,792 189,739
Total operating income (loss) (7,081) 25,205 (24,862) 4,576
Interest expense 3,519 5,731 12,030 22,203
Income (loss) before taxes (10,600) 19,474 (36,892) (17,627)
Provision (benefit) for taxes (1,225) 4,545 (4,976) (4,473)
Net income (loss) $ (9,375) $ 14,929 $ (31,916) $ (13,154)
Average shares outstanding:        
Basic (shares) 18,962,834 23,546,249 18,918,291 24,202,310
Diluted (shares) 18,962,834 23,548,495 18,918,291 24,202,310
Earnings (loss) per share:        
Basic (usd per share) $ (0.49) $ 0.63 $ (1.69) $ (0.54)
Diluted (usd per share) $ (0.49) $ 0.63 $ (1.69) $ (0.54)