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Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Revenues        
Investment management fees $ 68,867 $ 74,537 $ 139,363 $ 146,329
Distribution and service fees 17,635 23,940 37,233 46,378
Administration and transfer agent fees 12,577 13,942 25,619 27,015
Other income and fees 577 330 1,272 898
Total revenues 99,656 112,749 203,487 220,620
Operating Expenses        
Employment expenses 33,593 35,481 69,215 70,510
Distribution and other asset-based expenses 23,676 39,222 48,183 66,959
Other operating expenses 23,512 13,130 40,238 23,664
Other operating expenses of consolidated sponsored investment products 957 797 1,775 1,128
Depreciation and other amortization 873 670 1,652 1,327
Amortization expense 837 947 1,674 1,904
Total operating expenses 83,448 90,247 162,737 165,492
Operating Income 16,208 22,502 40,750 55,128
Other Income (Expense)        
Realized and unrealized gain on investments, net 343 905 888 2,751
Realized and unrealized (loss) gain on investments of consolidated sponsored investment products, net (3,242) 6,444 (652) 6,480
Other income, net 247 189 682 340
Total other (expense) income, net (2,652) 7,538 918 9,571
Interest Income (Expense)        
Interest expense (121) (125) (244) (263)
Interest and dividend income 302 344 582 727
Interest and dividend income of investments of consolidated sponsored investment products 3,098 1,639 5,422 2,512
Total interest income, net 3,279 1,858 5,760 2,976
Income Before Income Taxes 16,835 31,898 47,428 67,675
Income tax expense 7,823 12,106 18,691 26,116
Net Income 9,012 19,792 28,737 41,559
Noncontrolling interests 765 (249) 382 (78)
Net Income Attributable to Common Stockholders $ 9,777 $ 19,543 $ 29,119 $ 41,481
Earnings per share-Basic $ 1.10 $ 2.14 $ 3.26 $ 4.55
Earnings per share-Diluted 1.08 2.10 3.20 4.44
Cash dividends declared per share $ 0.45 $ 0.45 $ 0.90 $ 0.45
Weighted Average Shares Outstanding-Basic (in thousands) 8,889 9,133 8,927 9,125
Weighted Average Shares Outstanding-Diluted (in thousands) 9,037 9,325 9,094 9,343