Don, what's up with MAXF? Almost doubled in one week.
Financial certainly looks better.
MAXCOR FINANCIAL GROUP INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited)
For the Three Months Ended
March 31, 1999 March 31, 1998
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Revenue:
Commission income $ 44,412,112 $ 39,124,825
Interest income 355,993 467,780
Other income 430,095 227,008
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45,198,200 39,819,613
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Costs and expenses:
Payroll and related costs 29,209,821 26,993,722
Communication costs 3,880,411 3,650,546
Travel and entertainment 2,076,404 2,600,307
Occupancy costs 1,539,914 1,540,173
Depreciation and amortization 1,214,668 1,270,360
Clearing fees 986,361 1,056,467
Interest expense 205,188 242,194
General, administrative and other expenses 1,829,197 1,872,134
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40,941,964 39,225,903
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Income before provision for income taxes and
minority interest 4,256,236 593,710
Provision for income taxes 1,810,238 990,600
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Income (loss) before minority interest 2,445,998 ( 396,890)
Minority interest in consolidated subsidiaries ( 872,198) ( 407,400)
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Net income (loss) $ 1,573,800 ($ 804,290)
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Weighted average common shares outstanding 11,323,782 11,330,631
Basic and diluted earnings (loss) per share $ .14 ($ .07) |
