EX-99.3 5 octex993.txt CONDENSED CONSOLIDATED STATEMENTS (YTD) EXHIBIT 99.3
FRIEDMAN, BILLINGS, RAMSEY GROUP, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Dollars in thousands, except per share amounts) (Unaudited) Nine months ended September 30, 2001 % 2000 % ------------- --------------- -------------- -------------- REVENUES: Investment banking $ 53,793 54.1% $ 40,287 26.1% Institutional brokerage 33,974 34.2% 41,100 26.6% Asset management Base fees 13,934 14.0% 6,884 4.4% Incentive and investment income (loss) (9,727) -9.8% 58,851 38.1% Interest, dividends and other 7,414 7.5% 7,359 4.8% ------------- --------------- -------------- -------------- Total revenues 99,388 100.0% 154,481 100.0% ------------- --------------- -------------- -------------- EXPENSES: Compensation and benefits 73,283 73.7% 96,241 62.3% Business development and professional services 21,170 21.3% 14,982 9.7% Interest 737 0.8% 965 0.6% Other 27,617 27.8% 21,479 13.9% ------------- --------------- -------------- -------------- Total expenses 122,807 123.6% 133,667 86.5% ------------- --------------- -------------- -------------- Net income (loss) before income taxes (23,419) -23.6% 20,814 13.5% Provision for income taxes - 0.0% 4,163 2.7% ------------- --------------- -------------- -------------- Net income (loss) $ (23,419) -23.6% $16,651 10.8% ============= =============== ============== ============== Basic earnings (loss) per share $ (0.49) $ 0.34 ============= ============== Diluted earnings (loss) per share $ (0.49) $ 0.33 ============= ============== Weighted average shares - basic 48,122 49,119 ============= ============== Weighted average shares - diluted 48,122 50,787 ============= ==============