BARRA Inc. and Subsidiaries
Consolidated Statements of Operations
For the Three and Six Month Periods Ended September 30, 1997 and 1996
(Unaudited)
Three Months Ended Six Months Ended
September 30, September 30,
1997 1996 1997 1996
Operating Revenues:
Subscription and
consulting fees $23,306,592 $18,327,292 $44,047,718 $36,333,031
Electronic
brokerage 2,752,668 2,572,007 5,710,771 4,706,487
Asset management 5,174,933 3,574,541 8,582,166 6,361,071
Total operating
revenues 31,234,193 24,473,840 58,340,655 47,400,589
Operating Expenses:
Cost of subscription
products 1,505,545 1,669,055 3,213,089 3,559,844
Compensation and
benefits 15,192,724 12,400,650 28,151,224 24,106,492
Rent expense 1,418,554 980,624 2,550,182 1,969,238
Other operating
expenses 6,160,866 4,632,146 10,921,310 8,878,063
One-time
acquisition
charges 1,756,189 9,914,000 1,756,189
Total operating
expenses 24,277,689 21,438,664 54,749,805 40,269,826
Interest Income
& Other 616,369 324,021 1,071,439 965,365
Income before Equity
in Net Income and
Loss of Investees,
Minority Interest
and Income Taxes 7,572,873 3,359,197 4,662,289 8,096,128
Equity in Net Income
and Loss of
Investees (45,806) (103,009) (24,118) (109,117)
Minority Interest (1,193,531) 127,321 (1,782,768) 178,543
Income before
Income Taxes 6,333,536 3,383,509 2,855,403 8,165,554
Income Taxes (2,660,085) (1,447,251) (5,443,959) (3,461,094)
Net Income (Loss) $3,673,451 $1,936,258 ($2,588,556) ($4,704,460)
Net Income (Loss)
Per Share: $0.25 $0.14 ($0.20) ($0.34)
Weighted Average
Common and Common
Equivalent Shares: 14,406,827 13,839,467 13,055,971 13,930,154
Net Income Excluding
One-time Acquisition
Charges $3,673,451 $2,989,971 $7,325,444 $5,758,173
Net Income Per Share
Excluding One-time
Acquisition Charges $0.25 $0.22 $0.52 $0.41
All Share and Per Share Amounts Reflect 3 for 2 Stock Split.
SOURCE BARRA, Inc. |
