Ladenburg thalmann financial services inc. (LTSL)
Income statement / Quarterly
Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Sep'10Jun'10
Revenues:
Revenue from Contract with Customer, Excluding Assessed Tax

854,869

374,532

125,993

113,908

805,240

348,875

122,638

114,383

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total revenues

-

-

363,580

335,455

-

-

357,756

329,384

-

322,309

311,536

290,291

297,059

274,323

269,775

265,796

294,333

282,214

296,748

278,823

264,950

223,732

220,753

211,818

211,453

200,489

193,869

187,305

172,177

159,834

163,385

154,715

107,269

48,898

60,231

57,202

48,363

47,584

Expenses:
Commissions and fees

276,034

260,072

255,148

234,302

241,208

249,672

254,405

231,311

248,587

235,020

226,089

218,734

212,119

207,342

198,798

199,741

210,808

214,659

221,413

210,962

185,045

163,393

162,001

151,739

148,679

146,906

143,568

134,468

123,287

119,050

120,679

114,088

79,617

31,158

37,815

33,872

31,529

28,624

Compensation and benefits

56,297

54,026

51,904

48,584

53,318

44,905

48,573

47,249

46,213

45,131

40,875

39,125

43,721

35,984

36,060

36,827

42,076

35,911

37,393

34,406

38,840

28,410

25,091

27,890

26,030

23,860

21,821

23,635

20,870

18,700

20,941

19,640

14,540

10,903

12,457

14,143

9,772

10,892

Non-cash compensation

1,632

1,536

1,444

1,494

1,440

1,380

1,568

1,494

1,391

1,341

1,378

1,429

1,315

1,300

1,341

1,355

2,833

242

2,424

3,260

2,852

3,679

2,083

1,927

2,327

1,647

1,379

1,413

1,099

1,054

1,227

1,364

1,242

688

1,127

957

1,291

1,605

Brokerage, communication and clearance fees

3,101

3,392

3,563

4,001

4,094

3,734

2,941

5,319

4,477

4,173

4,909

4,565

3,415

4,331

2,943

5,030

5,021

5,170

5,111

5,425

4,897

4,349

4,247

4,407

3,529

2,761

2,736

2,588

2,519

2,412

2,566

2,442

2,010

1,933

1,929

1,820

1,537

1,770

Rent and occupancy, net of sublease revenue

2,641

2,648

2,644

2,670

2,531

2,566

2,387

2,493

2,191

2,305

2,468

2,392

2,652

2,334

2,237

2,450

2,423

2,412

2,822

2,140

2,085

1,905

1,517

1,533

1,688

1,631

1,471

1,499

1,676

1,642

1,606

1,676

1,388

810

793

822

795

760

Professional services

4,889

4,810

5,269

4,435

7,067

4,531

5,311

5,018

6,979

4,715

3,771

4,123

4,341

3,371

3,259

3,155

3,684

3,628

3,735

3,109

2,949

3,127

2,816

2,148

2,761

2,247

2,066

2,088

2,535

2,145

1,938

1,729

1,469

769

954

1,031

1,815

1,035

Interest

6,279

6,218

5,573

5,049

3,570

3,206

2,154

1,866

1,111

601

521

477

750

1,133

1,172

1,207

1,199

1,255

1,275

1,440

1,797

1,701

1,599

1,893

2,043

2,283

4,876

6,236

6,141

6,148

6,192

6,060

4,075

820

820

828

641

936

Depreciation and amortization

5,237

5,246

5,906

5,905

6,623

5,845

5,762

5,809

7,005

7,104

7,294

7,432

7,204

7,014

7,241

6,875

6,997

6,798

6,692

6,590

5,870

4,902

3,787

3,838

3,762

3,776

3,870

3,907

3,949

3,979

4,070

4,063

2,982

862

895

893

996

1,018

Acquisition-related expenses

5,863

0

3

21

97

0

0

913

3,149

55

89

176

354

936

31

36

683

139

10

108

1,034

850

458

0

-

0

0

-

-

-

-

-

-

700

-

-

-

-

Loss on extinguishment of debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-252

-234

0

0

-314

-347

-446

-3,754

0

-

0

0

-

-

-

-

-

-

-

Amortization of retention and forgivable loans

158

139

109

143

137

97

107

76

2,326

1,808

1,671

1,591

1,091

1,403

1,544

1,434

1,407

2,223

2,910

2,698

2,897

2,471

2,893

2,780

6,205

1,690

1,841

1,808

6,369

1,712

1,791

1,792

-

-

-

-

-

-

Amortization of contract acquisition costs

3,120

2,988

2,874

2,777

2,612

2,488

2,361

2,210

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other

29,741

18,067

19,545

21,134

19,363

17,740

18,253

17,929

20,666

15,396

21,221

14,917

17,473

16,014

16,676

14,014

17,647

12,926

15,796

13,756

14,420

9,516

10,571

8,504

10,362

10,284

11,263

9,040

5,685

9,530

7,961

9,787

6,833

3,041

2,920

2,081

2,965

2,985

Total expenses

394,992

359,142

353,982

330,515

342,060

336,164

343,822

321,687

344,095

317,649

310,286

294,961

294,435

281,162

271,302

272,124

294,778

285,363

299,581

284,146

262,920

224,303

217,063

206,973

207,733

197,531

198,645

186,682

174,130

166,372

168,971

162,641

118,061

51,684

59,710

56,447

51,341

49,625

Income before item shown below

743

15,390

9,598

4,940

13,061

12,711

13,934

7,697

-79

4,660

1,250

-4,670

2,624

-6,839

-1,527

-6,328

-445

-3,149

-2,833

-5,323

2,030

-571

3,690

4,845

3,720

2,958

-4,776

623

-1,953

-6,538

-5,586

-7,926

-10,792

-2,786

521

755

-

-

Change in fair value of contingent consideration

-374

-93

-85

-112

-73

-54

-50

-61

-67

-3

-63

152

-38

-72

-49

-57

24

0

0

31

0

0

0

12

0

0

-144

23

0

909

647

5,555

-

-

-

-

-

-

Income before income taxes

369

15,297

9,513

4,828

12,988

12,657

13,884

7,636

-146

4,657

1,187

-4,518

2,586

-6,911

-1,576

-6,385

-421

-3,149

-2,833

-5,292

2,030

-571

3,690

4,857

3,720

2,958

-4,920

646

-1,953

-5,629

-4,939

-2,371

-10,792

-2,786

521

755

-2,978

-2,041

Income tax expense (benefit)

-139

4,020

2,005

1,396

3,426

3,207

4,574

2,172

-6,780

1,255

-138

-839

1,965

604

16,225

-8,769

1,806

-212

-356

-1,720

-11,352

-13,354

767

593

1,208

579

616

523

402

408

44

608

-17,146

284

321

346

227

188

Net income

508

11,277

7,508

3,432

9,562

9,450

9,310

5,464

6,634

3,402

1,325

-3,679

621

-7,515

-17,801

2,384

-2,227

-2,937

-2,477

-3,572

13,382

12,783

2,923

4,264

2,512

2,379

-5,536

123

-2,355

-6,037

-4,983

-2,979

-

-

-

-

-

-

Net income (loss) attributable to noncontrolling interest

16

-79

20

1

6

13

8

1

-10

3

-3

-5

-9

-1

-14

-18

-23

-11

-8

-20

-19

-20

-21

-21

-19

-23

-13

-13

0

0

0

0

-

-

-

-

-

-

Net income attributable to the Company

492

11,356

7,488

3,431

9,556

9,437

9,302

5,463

6,644

3,399

1,328

-3,674

630

-7,514

-17,787

2,402

-2,204

-2,926

-2,469

-3,552

13,401

12,803

2,944

4,285

2,531

2,402

-5,523

136

-2,355

-6,037

-4,983

-2,979

6,354

-3,070

200

409

-3,205

-2,229

Dividends declared on preferred stock

8,702

8,702

8,695

8,590

8,508

8,507

8,508

8,508

8,456

8,149

7,953

7,924

7,924

7,780

7,389

7,345

7,335

7,289

7,152

6,332

5,461

4,848

3,710

3,225

3,004

2,879

1,028

0

-

0

0

-

-

-

-

-

-

-

Net loss available to common shareholders

-8,210

2,654

-1,207

-5,159

1,048

930

794

-3,045

-1,812

-4,750

-6,625

-11,598

-7,294

-15,294

-25,176

-4,943

-9,539

-10,215

-9,621

-9,884

7,940

7,955

-766

1,060

-473

-477

-6,551

136

-

-6,037

-4,983

-

-

-

-

-

-

-

Net loss per share available to common shareholders (basic) (in USD per share)

-0.05

0.02

-0.01

-0.04

0.02

0.00

0.00

-0.02

-0.02

-0.02

-0.03

-0.06

-0.04

-0.08

-0.14

-0.03

-0.05

-0.06

-0.05

-0.05

0.04

0.04

0.00

0.01

-

0.00

-

-

-

-

-

-

-

-

-

-

-

-

Net loss per share available to common shareholders (diluted) (in USD per share)

-0.05

0.02

-0.01

-0.04

0.02

0.00

0.00

-0.02

-0.02

-0.02

-0.03

-0.06

-0.04

-0.08

-0.14

-0.03

-0.05

-0.06

-0.05

-0.05

0.03

0.04

0.00

0.01

-

0.00

-

-

-

-

-

-

-

-

-

-

-

-

Net income (loss) per share available to common shareholders (basic and diluted)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-0.04

0.00

-

-0.03

-0.03

-0.02

0.04

-0.02

0.00

0.00

-0.02

-0.01

Weighted average common shares used in computation of per share data:
Basic (in shares)

143,641

143,092

143,444

143,311

189,413

196,381

196,557

195,898

194,770

192,912

192,304

192,270

188,880

181,032

180,674

181,363

181,382

183,519

184,743

184,998

184,843

182,988

181,739

181,502

180,475

181,759

183,488

183,459

-

-

-

183,679

-

-

183,048

183,366

-

170,744

Diluted (in shares)

138,773

147,960

143,444

143,311

164,109

208,387

209,855

195,898

194,770

192,912

192,304

192,270

188,880

181,032

180,674

181,363

181,382

183,519

184,743

184,998

231,442

210,535

181,739

202,332

175,476

181,759

183,488

188,458

-

-

183,551

183,679

-

-

187,005

186,327

-

170,744

Basic and diluted

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

183,460

183,551

-

-

182,810

-

-

181,327

-

Commissions
Revenue from Contract with Customer, Excluding Assessed Tax

197,529

180,395

179,752

166,929

180,556

172,108

180,381

163,286

141,536

131,467

132,975

130,050

129,015

127,515

125,583

127,910

139,019

136,919

143,326

139,419

129,214

109,575

106,346

100,599

100,907

101,469

98,971

93,067

82,201

80,599

83,662

79,670

54,873

25,824

30,119

28,733

27,397

25,648

Advisory fees
Revenue from Contract with Customer, Excluding Assessed Tax

-

132,763

-

-

-

124,550

-

-

-

-

-

127,003

-

118,873

111,951

110,925

114,103

118,050

119,403

110,531

97,947

86,333

82,053

76,879

73,125

69,893

67,663

63,337

62,565

58,660

57,009

55,438

39,945

14,971

17,191

15,758

12,886

12,841

Investment banking
Revenue from Contract with Customer, Excluding Assessed Tax

-

18,692

11,539

9,829

-

9,982

11,729

16,490

-

14,745

12,887

6,489

10,008

4,424

6,519

4,502

10,013

7,318

11,207

6,607

8,692

10,916

11,391

15,999

10,720

10,090

8,112

13,069

6,437

6,140

10,079

6,622

2,343

3,509

10,549

11,113

4,661

6,655

Principal transactions
Revenue from Contract with Customer, Excluding Assessed Tax

181

-258

601

928

-773

45

233

167

172

107

258

320

65

173

380

133

-155

-250

583

424

239

433

484

782

977

841

429

420

-312

33

-401

-401

366

-524

-628

-424

-826

-161

Interest and dividends
Revenue from Contract with Customer, Excluding Assessed Tax

1,271

1,474

1,328

1,216

1,670

1,434

1,080

787

629

629

657

635

-4,319

2,799

2,670

1,729

1,419

1,076

800

547

1,077

1,760

1,669

1,703

1,674

1,826

1,702

1,611

1,401

1,321

1,173

878

607

130

132

157

144

137

Service fees
Revenue from Contract with Customer, Excluding Assessed Tax

-

31,137

32,387

32,203

-

28,702

27,585

24,902

-

19,277

20,336

18,556

7,707

20,539

22,672

20,597

29,934

19,101

21,429

21,295

27,781

14,715

18,810

15,856

24,050

16,370

16,992

15,801

19,885

13,081

11,863

12,508

-

4,988

2,868

-

-

-

Revenue from Contract with Customer, Excluding Assessed Tax

99,278

10,329

11,980

10,442

83,897

12,054

14,110

9,369

58,904

9,407

9,781

7,238

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,865

4,101

2,464