2016 Q3 Form 10-Q Financial Statement

#000128481216000495 Filed on November 04, 2016

View on sec.gov

Income Statement

Concept 2016 Q3 2015 Q3
Revenue $94.39M $79.67M
YoY Change 18.48% -1.46%
Cost Of Revenue $11.10M $8.600M
YoY Change 29.07% -4.44%
Gross Profit $83.30M $71.10M
YoY Change 17.16% -0.97%
Gross Profit Margin 88.25% 89.25%
Selling, General & Admin $44.10M $38.10M
YoY Change 15.75% -0.78%
% of Gross Profit 52.94% 53.59%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.000M $1.500M
YoY Change 33.33% 36.36%
% of Gross Profit 2.4% 2.11%
Operating Expenses $57.18M $48.19M
YoY Change 18.64% -0.68%
Operating Profit $37.21M $31.48M
YoY Change 18.22% -2.63%
Interest Expense $1.100M -$2.700M
YoY Change -140.74% -6.9%
% of Operating Profit 2.96% -8.58%
Other Income/Expense, Net $1.356M -$7.727M
YoY Change -117.55% 117.23%
Pretax Income $38.57M $23.75M
YoY Change 62.4% -17.45%
Income Tax $14.74M $11.54M
% Of Pretax Income 38.21% 48.59%
Net Earnings $23.88M $12.34M
YoY Change 93.52% -32.15%
Net Earnings / Revenue 25.3% 15.49%
Basic Earnings Per Share $0.52 $0.27
Diluted Earnings Per Share $0.51 $0.27
COMMON SHARES
Basic Shares Outstanding 46.00M shares 45.50M shares
Diluted Shares Outstanding 46.54M shares 45.83M shares

Balance Sheet

Concept 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $163.1M $146.2M
YoY Change 11.56% 6.1%
Cash & Equivalents $163.1M $140.7M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $62.10M $52.20M
Other Receivables $0.00 $4.100M
Total Short-Term Assets $225.2M $202.5M
YoY Change 11.21% 7.26%
LONG-TERM ASSETS
Property, Plant & Equipment $14.06M $9.894M
YoY Change 42.06% -12.59%
Goodwill $18.32M $18.25M
YoY Change 0.38% -6.93%
Intangibles $1.457M $1.546M
YoY Change -5.76% -5.44%
Long-Term Investments $21.38M $6.309M
YoY Change 238.85% 5796.26%
Other Assets $4.000M $2.900M
YoY Change 37.93% -78.36%
Total Long-Term Assets $106.3M $93.52M
YoY Change 13.65% -32.49%
TOTAL ASSETS
Total Short-Term Assets $225.2M $202.5M
Total Long-Term Assets $106.3M $93.52M
Total Assets $331.5M $296.0M
YoY Change 11.98% -9.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $600.0K $4.500M
YoY Change -86.67%
Accrued Expenses $26.50M $22.20M
YoY Change 19.37% 5.21%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $43.40M $28.20M
YoY Change 53.9% 15.57%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $15.00M $21.20M
YoY Change -29.25% 0.47%
Total Long-Term Liabilities $15.00M $21.20M
YoY Change -29.25% 0.47%
TOTAL LIABILITIES
Total Short-Term Liabilities $43.40M $28.20M
Total Long-Term Liabilities $15.00M $21.20M
Total Liabilities $58.39M $49.36M
YoY Change 18.28% 8.33%
SHAREHOLDERS EQUITY
Retained Earnings -$118.1M -$118.9M
YoY Change -0.69% 16.83%
Common Stock $504.0K $497.0K
YoY Change 1.41% 2.26%
Preferred Stock
YoY Change
Treasury Stock (at cost) $144.7M $136.6M
YoY Change 5.88% 16.42%
Treasury Stock Shares 4.525M shares 4.250M shares
Shareholders Equity $272.2M $245.9M
YoY Change
Total Liabilities & Shareholders Equity $331.5M $296.0M
YoY Change 11.98% -9.57%

Cashflow Statement

Concept 2016 Q3 2015 Q3
OPERATING ACTIVITIES
Net Income $23.88M $12.34M
YoY Change 93.52% -32.15%
Depreciation, Depletion And Amortization $2.000M $1.500M
YoY Change 33.33% 36.36%
Cash From Operating Activities $30.10M $32.20M
YoY Change -6.52% 100.0%
INVESTING ACTIVITIES
Capital Expenditures -$2.200M -$800.0K
YoY Change 175.0% -70.37%
Acquisitions
YoY Change
Other Investing Activities $6.700M $1.200M
YoY Change 458.33% -88.79%
Cash From Investing Activities $4.700M $300.0K
YoY Change 1466.67% -96.2%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -11.90M -11.40M
YoY Change 4.39% -522.22%
NET CHANGE
Cash From Operating Activities 30.10M 32.20M
Cash From Investing Activities 4.700M 300.0K
Cash From Financing Activities -11.90M -11.40M
Net Change In Cash 22.90M 21.10M
YoY Change 8.53% -20.97%
FREE CASH FLOW
Cash From Operating Activities $30.10M $32.20M
Capital Expenditures -$2.200M -$800.0K
Free Cash Flow $32.30M $33.00M
YoY Change -2.12% 75.53%

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367000 USD
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us-gaap Increase Decrease In Accrued Income Taxes Payable
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1932000 USD
us-gaap Increase Decrease In Brokerage Receivables
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4306000 USD
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LaborAndRelatedExpense
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us-gaap Labor And Related Expense
LaborAndRelatedExpense
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CY2016Q3 us-gaap Labor And Related Expense
LaborAndRelatedExpense
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NetCashProvidedByUsedInInvestingActivities
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NetCashProvidedByUsedInInvestingActivities
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
68354000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
60758000 USD
CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
NetIncomeLoss
52166000 USD
CY2016Q3 us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
NetIncomeLoss
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CY2015Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-129000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-163000 USD
CY2016Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-46000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-149000 USD
CY2015Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-7727000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-9233000 USD
CY2016Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
1356000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
6465000 USD
CY2015Q3 us-gaap Operating Expenses
OperatingExpenses
48190000 USD
us-gaap Operating Expenses
OperatingExpenses
149787000 USD
CY2016Q3 us-gaap Operating Expenses
OperatingExpenses
57175000 USD
us-gaap Operating Expenses
OperatingExpenses
160791000 USD
CY2015Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
31477000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
97197000 USD
CY2016Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
37213000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2015Q4 us-gaap Other Assets
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5765000 USD
CY2016Q3 us-gaap Other Assets
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6341000 USD
CY2015Q3 us-gaap Other Comprehensive Income Availableforsale Securities Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesTaxPortionAttributableToParent
0 USD
us-gaap Other Comprehensive Income Availableforsale Securities Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesTaxPortionAttributableToParent
0 USD
CY2016Q3 us-gaap Other Comprehensive Income Availableforsale Securities Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesTaxPortionAttributableToParent
0 USD
us-gaap Other Comprehensive Income Availableforsale Securities Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesTaxPortionAttributableToParent
0 USD
CY2015Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-2104000 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-2616000 USD
CY2016Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
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us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
3338000 USD
CY2015Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-748000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-1292000 USD
CY2016Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-271000 USD
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CY2015Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
0 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
0 USD
CY2016Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
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us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
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OtherComprehensiveIncomeLossNetOfTax
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CY2016Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-38000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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CY2015Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
-469000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
-49000 USD
CY2016Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
1072000 USD
CY2015Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax
0 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax
0 USD
CY2016Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax
0 USD
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OtherLiabilities
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OtherLiabilities
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OtherNonoperatingIncomeExpense
-270000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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CY2016Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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us-gaap Other Nonoperating Income Expense
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577000 USD
us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments For Repurchase Of Redeemable Noncontrolling Interest
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us-gaap Payments For Repurchase Of Redeemable Noncontrolling Interest
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us-gaap Payments Of Dividends Common Stock
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34078000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
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us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
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us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
7173000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1640000 USD
us-gaap Payments To Acquire Property Plant And Equipment
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7354000 USD
CY2015Q3 us-gaap Prior Period Reclassification Adjustment
PriorPeriodReclassificationAdjustment
-4755000 USD
us-gaap Prior Period Reclassification Adjustment
PriorPeriodReclassificationAdjustment
-6506000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
450000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
525000 USD
us-gaap Proceeds From Payments To Minority Shareholders
ProceedsFromPaymentsToMinorityShareholders
283000 USD
us-gaap Proceeds From Payments To Minority Shareholders
ProceedsFromPaymentsToMinorityShareholders
3912000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
6956000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
15158000 USD
us-gaap Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
4000 USD
us-gaap Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
361000 USD
CY2015Q3 us-gaap Profit Loss
ProfitLoss
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us-gaap Profit Loss
ProfitLoss
52003000 USD
CY2016Q3 us-gaap Profit Loss
ProfitLoss
23831000 USD
us-gaap Profit Loss
ProfitLoss
66619000 USD
CY2015Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
9783000 USD
CY2016Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
14055000 USD
CY2015Q4 us-gaap Receivables From Brokers Dealers And Clearing Organizations
ReceivablesFromBrokersDealersAndClearingOrganizations
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CY2016Q3 us-gaap Receivables From Brokers Dealers And Clearing Organizations
ReceivablesFromBrokersDealersAndClearingOrganizations
2387000 USD
CY2015Q4 us-gaap Redeemable Noncontrolling Interest Equity Common Fair Value
RedeemableNoncontrollingInterestEquityCommonFairValue
11334000 USD
CY2016Q3 us-gaap Redeemable Noncontrolling Interest Equity Common Fair Value
RedeemableNoncontrollingInterestEquityCommonFairValue
868000 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-148096000 USD
CY2016Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-118088000 USD
CY2015Q3 us-gaap Revenue Other Financial Services
RevenueOtherFinancialServices
2219000 USD
us-gaap Revenue Other Financial Services
RevenueOtherFinancialServices
6643000 USD
CY2016Q3 us-gaap Revenue Other Financial Services
RevenueOtherFinancialServices
3013000 USD
us-gaap Revenue Other Financial Services
RevenueOtherFinancialServices
7985000 USD
CY2015Q3 us-gaap Revenues
Revenues
79667000 USD
us-gaap Revenues
Revenues
260442000 USD
us-gaap Revenues
Revenues
246984000 USD
CY2016Q3 us-gaap Revenues
Revenues
94388000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
17123000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
16833000 USD
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
231776000 USD
CY2016Q3 us-gaap Stockholders Equity
StockholdersEquity
272239000 USD
us-gaap Straight Line Rent
StraightLineRent
-361000 USD
us-gaap Straight Line Rent
StraightLineRent
78000 USD
CY2015Q3 us-gaap Substantial Doubt About Going Concern Conditions Or Events
SubstantialDoubtAboutGoingConcernConditionsOrEvents
P1Y
CY2015Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
6780000 USD
CY2016Q3 us-gaap Taxes Payable Current
TaxesPayableCurrent
9167000 USD
CY2015Q3 us-gaap Trading Gains Losses
TradingGainsLosses
-1386000 USD
us-gaap Trading Gains Losses
TradingGainsLosses
-1632000 USD
CY2016Q3 us-gaap Trading Gains Losses
TradingGainsLosses
-376000 USD
us-gaap Trading Gains Losses
TradingGainsLosses
434000 USD
CY2015Q4 us-gaap Trading Securities
TradingSecurities
37169000 USD
CY2016Q3 us-gaap Trading Securities
TradingSecurities
12742000 USD
CY2015Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
4250476 shares
CY2016Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
4524694 shares
CY2015Q4 us-gaap Treasury Stock Value
TreasuryStockValue
136637000 USD
CY2016Q3 us-gaap Treasury Stock Value
TreasuryStockValue
144677000 USD
us-gaap Variable Interest Entity Ownership Percentage
VariableInterestEntityOwnershipPercentage
0.50
CY2015Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
330000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
471000 shares
CY2016Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
545000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
442000 shares
CY2015Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
45830000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
45873000 shares
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
46544000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
46373000 shares
CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
45500000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
45402000 shares
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
45931000 shares
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Reclassifications</font><font style="font-family:inherit;font-size:10pt;">&#8212;Certain prior year amounts have been reclassified to conform to the current year presentation. On the condensed consolidated statements of cash flows, the captions "distribution and service fees payable" and "due to broker" have been reclassified from "other liabilities and accrued expenses."</font></div></div>
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Accounting Estimates</font><font style="font-family:inherit;font-size:10pt;">&#8212;The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosures of contingent assets and liabilities at the dates of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting periods. Management believes the estimates used in preparing the condensed consolidated financial statements are reasonable and prudent. Actual results could differ from those estimates.</font></div></div>

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