INTL FCStone 2005 Annual Report Download - page 44

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INTERNATIONAL ASSETS HOLDING CORPORATION AND SUBSIDIARIES
Consolidated Statements of Operations
Years ended September 30, 2005 and 2004
2005 2004
as restated
Revenues:
Net dealer inventory and investment gains ............................. $24,850,624 $21,407,230
Commissions, net ................................................ 512,796 903,507
Interest income .................................................. 635,965 167,305
Dividendexpense,net ............................................. (89,017) (400,090)
Equity in income (loss) from asset management joint venture .............. 217,585 (40,925)
Other .......................................................... 12,078 702
Totalrevenues ............................................... 26,140,031 22,037,729
Interest expense .................................................. 1,335,461 3,214,148
Netrevenues ................................................ 24,804,570 18,823,581
Non-interest expenses:
Compensation and benefits ......................................... 10,482,558 8,490,377
Clearing and related expenses ....................................... 6,167,882 5,990,090
Occupancyandequipmentrental .................................... 802,862 512,737
Professional fees ................................................. 558,452 418,538
Depreciation and amortization ...................................... 320,394 185,769
Businessdevelopment ............................................. 765,446 472,409
Insurance ....................................................... 700,607 362,253
Other .......................................................... 887,158 511,896
Total non-interest expenses ..................................... 20,685,359 16,944,069
Income before income tax expense and minority interest .............. 4,119,211 1,879,512
Incometaxexpense ................................................... 1,483,897 1,997,719
Income (loss) before minority interest ............................ 2,635,314 (118,207)
Minority interest in income of consolidated entity ........................... 21,679
Netincome(loss) ............................................ $ 2,613,635 $ (118,207)
Earnings (loss) per share:
Basic .......................................................... $ 0.36 $ (0.02)
Diluted......................................................... $ 0.33 $ (0.02)
Weighted average number of common shares outstanding:
Basic .......................................................... 7,303,065 5,090,304
Diluted......................................................... 8,023,891 5,090,304
See accompanying notes to consolidated financial statements.
F-4