|
|
|
|
|
|
|
|
|
|
|
|
|
|
| eSpeed,
Inc. and Subsidiaries |
|
|
|
| CONSOLIDATED
STATEMENT OF OPERATIONS |
|
|
| For
the nine months ended September 30, 2001 and September 30, 2000 |
|
|
|
|
|
|
|
| (unaudited) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the nine months ended |
|
|
|
September
30, 2001 |
|
September
30, 2000 |
|
|
|
|
| Revenues: |
|
|
|
|
Transaction revenues with related
parties |
|
|
|
|
Fully electronic transactions |
|
$ 57,752,654 |
|
$
35,789,388 |
|
|
Voice assisted brokerage transactions |
|
17,275,168 |
|
10,712,251 |
|
|
Screen assisted open outcry transactions |
|
313,581 |
|
2,058,371 |
|
|
Total transaction revenues with related parties |
|
75,341,403 |
|
48,560,010 |
|
|
|
Software Solution fees from related
parties |
|
12,775,813 |
|
9,363,222 |
|
|
Software Solution fees from
unrelated parties |
|
1,339,596 |
|
- |
|
|
Interest income from related parties |
|
4,701,569 |
|
6,244,549 |
|
|
Total revenues |
|
94,158,381 |
|
64,167,781 |
|
|
|
|
|
| Expenses: |
|
|
|
|
Compensation and employee benefits |
|
46,124,822 |
|
39,782,281 |
|
|
Occupancy and equipment |
|
22,329,398 |
|
15,445,236 |
|
|
Professional and consulting fees |
|
7,232,006 |
|
8,573,454 |
|
|
Communications and client networks |
|
6,672,676 |
|
3,058,804 |
|
|
Marketing |
|
3,997,959 |
|
6,905,152 |
|
|
Administrative fees paid to related
parties |
|
7,753,500 |
|
4,839,542 |
|
|
Other |
|
6,756,622 |
|
7,124,539 |
|
|
Total operating expenses |
|
100,866,983 |
|
85,729,008 |
|
|
|
|
|
| Loss from
operations before income taxes |
|
(6,708,602) |
|
(21,561,227) |
|
|
|
|
|
| Income tax
provision/(benefit): |
|
|
|
|
Federal |
|
- |
|
- |
|
|
State and local |
|
387,000 |
|
288,125 |
|
|
Total tax provision/(benefit) |
|
387,000 |
|
288,125 |
|
|
|
|
| Net loss
from operations |
|
(7,095,602) |
|
(21,849,352) |
|
|
|
|
|
| Non-cash,
non-operating charges: |
|
|
|
|
Non-cash business partner securities |
|
816,228 |
|
32,040,505 |
|
|
Loss on unconsolidated investments |
|
3,833,679 |
|
- |
|
|
Provision for September 11 events |
|
14,368,554 |
|
- |
|
|
Total non-cash, non-operating charges |
|
19,018,461 |
|
32,040,505 |
|
|
|
|
|
|
|
|
|
| Net loss |
|
$
(26,114,063) |
|
$
(53,889,857) |
|
|
|
|
| Per share
data: |
|
|
|
|
|
|
|
Basic and diluted net loss
per share |
|
|
|
|
from operating activities |
|
$ (0.13) |
|
$ (0.43) |
|
|
|
|
|
Non-cash, non-operating charges per share |
|
(0.35) |
|
(0.62) |
|
|
|
|
|
Basic and diluted net loss per share |
|
$ (0.48) |
|
$ (1.05) |
|
|
|
|
|
|
|
|
Weighted average shares of common stock |
|
|
|
|
outstanding |
|
54,076,897 |
|
51,354,854 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|