XML 26 R2.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Condensed Consolidated Statements of Income (USD $)
In Thousands, except Per Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Revenues $ 87,886 $ 88,742 $ 172,932 $ 177,906
Reimbursable expenses 3,074 1,962 4,966 4,760
Total revenues 90,960 90,704 177,898 182,666
Direct client service costs        
Compensation and benefits (includes $4,130 and $4,215 of equity-based compensation for the three months ended June 30, 2011 and 2010, respectively, and $9,065 and $7,932 for the six months ended June 30, 2011 and 2010, respectively) 49,059 50,415 95,967 99,013
Other direct client service costs 1,480 1,881 2,909 3,869
Acquisition retention expenses (includes $297 and $379 of equity-based compensation for the three and six months ended June 30, 2011) 297 0 379 0
Reimbursable expenses 3,132 2,039 5,069 4,893
Cost of Revenue 53,968 54,335 104,324 107,775
Operating expenses        
Selling, general and administrative (includes $769 and $2,005 of equity-based compensation for the three months ended June 30, 2011 and 2010, respectively, and $2,292 and $3,458 for the six months ended June 30, 2011 and 2010, respectively) 24,982 26,304 49,304 50,388
Depreciation and amortization 2,567 2,350 5,056 4,843
Restructuring charges (Note 10) 904 0 904 0
Merger and acquisition costs 272 321 466 321
Charge from impairment of certain intangible assets 0 0 0 674
Operating Expenses 28,725 28,975 55,730 56,226
Operating income 8,267 7,394 17,844 18,665
Other expense/(income), net        
Interest income (27) (53) (55) (77)
Interest expense 91 76 148 168
Other expense/(income) 0 247 (7) 232
Nonoperating expense/(income) including interest expense/income 64 270 86 323
Income before income taxes 8,203 7,124 17,758 18,342
Provision for income taxes 2,556 2,506 5,620 6,156
Net income 5,647 4,618 12,138 12,186
Less: Net income attributable to noncontrolling interest 2,223 2,111 4,601 5,406
Net income attributable to Duff & Phelps Corporation $ 3,424 $ 2,507 $ 7,537 $ 6,780
Common Stock Class A
       
Weighted average shares of Class A common stock outstanding        
Basic 27,296 25,058 27,104 25,022
Diluted 28,067 25,754 28,095 25,903
Net income per share attributable to stockholders of Class A common stock of Duff & Phelps Corporation (Note 4)        
Basic $ 0.12 $ 0.10 $ 0.27 $ 0.26
Diluted $ 0.12 $ 0.09 $ 0.26 $ 0.25
Cash dividends declared per common share $ 0.08 $ 0.06 $ 0.16 $ 0.11