|
 |
|
|
|
Year Ended December 31,
|
|
|
(in thousands, except per share data)
|
|
|
2001
|
|
|
|
2000
|
|
|
1999
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commissions and fees
|
$
|
359,697
|
|
$
|
258,309
|
|
$
|
231,437
|
|
|
|
Investment income
|
|
3,686
|
|
4,887
|
|
|
3,535
|
|
|
|
Other income
|
1,646
|
|
2,209
|
|
|
2,551
|
|
|
|
Total revenues
|
|
|
365,029
|
|
|
|
265,405
|
|
|
237,523
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Employee compensation and benefits
|
187,653
|
|
149,836
|
|
|
131,270
|
|
|
Other operating expenses
|
56,815
|
|
44,372
|
|
|
41,893
|
|
|
Amortization
|
15,860
|
|
9,226
|
|
|
8,343
|
|
|
Depreciation
|
6,536
|
|
6,158
|
|
|
5,892
|
|
|
Interest
|
5,703
|
|
1,266
|
|
|
1,360
|
|
|
Non-cash stock grant compensation
|
1,984
|
|
483
|
|
|
1,263
|
|
|
|
Total expenses
|
|
|
274,551
|
|
|
|
211,341
|
|
|
190,021
|
|
|
|
Income before income taxes and minority interest
|
|
|
90,478
|
|
|
|
54,064
|
|
|
47,502
|
|
|
Income taxes
|
34,834
|
|
20,146
|
|
|
18,331
|
|
|
Minority interest, net of income taxes
|
1,731
|
|
1,125
|
|
|
900
|
|
|
|
Net income
|
|
$
|
53,913
|
|
|
$
|
32,793
|
|
$
|
28,271
|
|
|
|
Net income per share:
|
|
|
|
|
|
|
|
|
|
|
Basic
|
$
|
0.86
|
|
$
|
0.53
|
|
$
|
0.46
|
|
|
Diluted
|
$
|
0.85
|
|
$
|
0.53
|
|
$
|
0.46
|
|
|
|
Weighted average number of shares outstanding:
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
62,563
|
|
|
61,845
|
|
|
61,639
|
|
|
Diluted
|
63,222
|
|
62,091
|
|
|
61,655
|
|
|
|
See accompanying notes to our consolidated financial statements.
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