|
|
|
|
|
|
|
|
|
|
|
|
|
| eSpeed,
Inc. and Subsidiaries |
|
|
|
|
|
| CONSOLIDATED
STATEMENT OF OPERATIONS |
|
|
|
|
|
| For
the three months ended September 30, 2001 and September 30, 2000 |
|
|
|
|
|
|
|
|
|
|
|
| (unaudited) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the three months ended |
|
|
|
|
|
September
30, 2001 |
|
September
30, 2000 |
|
|
|
|
|
|
|
|
| Revenues: |
|
|
|
|
|
|
Transaction revenues with related
parties |
|
|
|
|
|
|
Fully electronic transactions |
|
$ 15,676,495 |
|
$ 13,106,847
|
|
|
|
|
Voice assisted brokerage transactions |
|
5,577,545
|
|
3,480,895 |
|
|
|
|
Screen assisted open outcry transactions |
|
146,673 |
|
486,660 |
|
|
|
|
Total transaction revenues with related parties |
|
21,400,713 |
|
17,074,402 |
|
|
|
|
|
Software Solution fees from related
parties |
|
4,806,225
|
|
2,316,025 |
|
|
|
|
Software Solution fees from unrelated
parties |
|
691,677 |
|
- |
|
|
|
|
Interest income from related parties |
|
1,292,718
|
|
3,101,169 |
|
|
|
|
Total revenues |
|
28,191,333 |
|
22,491,596 |
|
|
|
|
|
|
|
|
|
| Expenses: |
|
|
|
|
|
|
Compensation and employee benefits |
|
14,738,315
|
|
14,003,834
|
|
|
|
|
Occupancy and equipment |
|
7,414,913
|
|
5,789,997 |
|
|
|
|
Professional and consulting fees |
|
1,196,878
|
|
2,814,761 |
|
|
|
|
Communications and client networks |
|
2,470,533
|
|
1,209,473 |
|
|
|
|
Marketing |
|
999,188 |
|
2,105,587 |
|
|
|
|
Administrative fees paid to related
parties |
|
2,911,382
|
|
1,526,963 |
|
|
|
|
Other |
|
2,461,958
|
|
2,654,452 |
|
|
|
|
Total operating expenses |
|
32,193,167 |
|
30,105,067 |
|
|
|
|
|
|
|
|
|
| Loss from
operations before income taxes |
|
(4,001,834) |
|
(7,613,471) |
|
|
|
|
|
|
|
|
|
| Income tax
provision/(benefit): |
|
|
|
|
|
|
Federal |
|
- |
|
- |
|
|
|
|
State and local |
|
129,000 |
|
88,125 |
|
|
|
|
Total tax provision/(benefit) |
|
129,000 |
|
88,125 |
|
|
|
|
|
|
|
|
| Net loss
from operations |
|
(4,130,834) |
|
(7,701,596) |
|
|
|
|
|
|
|
|
|
| Non-cash,
non-operating charges: |
|
|
|
|
|
|
Non-cash business partner securities |
|
517,328 |
|
2,235,200 |
|
|
|
|
Loss on unconsolidated investments |
|
3,833,679
|
|
- |
|
|
|
|
Provision for September 11 events |
|
14,368,554
|
|
- |
|
|
|
|
Total non-cash, non-operating charges |
|
18,719,561 |
|
2,235,200 |
|
|
|
|
|
|
|
|
|
| Net loss |
|
$ (22,850,395) |
|
$ (9,936,796) |
|
|
|
|
|
|
|
|
|
| Per share
data: |
|
|
|
|
|
|
|
|
|
|
|
Basic and diluted net loss per share |
|
|
|
|
|
|
from operating activities |
|
$ (0.08) |
|
$ (0.15) |
|
|
|
|
|
|
|
|
|
|
|
Non-cash, non-operating charges per share |
|
(0.34) |
|
(0.04) |
|
|
|
|
|
|
|
|
|
Basic and diluted net loss per share |
|
$ (0.42) |
|
$ (0.19) |
|
|
|
|
|
|
|
|
|
Weighted average shares of common stock |
|
|
|
|
|
|
outstanding |
|
54,973,648
|
|
51,833,849
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|