Quarterly report pursuant to Section 13 or 15(d)

Revision of Financial Statement (Details)

v3.10.0.1
Revision of Financial Statement (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Mar. 31, 2018
ASSETS          
Cash and cash equivalents $ 39,810   $ 39,810    
Restricted cash 29,560   29,560    
Trading securities 148,407   148,407    
Available-for-sale securities, at fair value 2   2    
Brokerage and other receivables, net 80,202   80,202    
Loans issued 2,799   2,799   $ 8,754
Deferred tax assets 843   843    
Fixed assets, net 4,027   4,027    
Intangible assets, net 4,306   4,306    
Goodwill 2,982   2,982    
Other assets, net 4,217   4,217    
TOTAL ASSETS 317,155   317,155    
LIABILITIES AND STOCKHOLDERS' EQUITY          
Securities sold, not yet purchased - at fair value 630   630    
Loans received 3,604   3,604    
Debt securities issued 23,555   23,555    
Customer liabilities 69,840   69,840    
Trade payables 21,082   21,082    
Deferred distribution payments 8,534   8,534    
Securities repurchase agreement obligation 77,578   77,578    
Other liabilities 1,864   1,864    
TOTAL LIABILITIES 207,294   207,294    
STOCKHOLDERS' EQUITY          
Preferred stock 0   0    
Common stock 58   58    
Additional paid in capital 99,850   99,850    
Retained earnings 29,728   29,728    
Accumulated other comprehensive loss (19,775)   (19,775)    
TOTAL STOCKHOLDERS' EQUITY 109,861   109,861    
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 317,155   317,155    
Revenue:          
Fee and commission income 12,786   18,759    
Net gain on trading securities 4,317   1,028    
Interest income 1,474   8,847    
Net (loss) on derivatives 0   0    
Net gain/(loss) on foreign exchange operations (1,138)   (3,248)    
TOTAL REVENUE, NET 17,439   25,386    
Expense:          
Interest expense 3,678   8,291    
Fee and commission expense 968   1,733    
Operating expense 10,044   19,155    
Other expense/(income), net 405   351    
TOTAL EXPENSE 15,110   29,545    
NET INCOME BEFORE INCOME TAX 2,329   (4,159)    
Income tax benefit (614)   (464)    
NET INCOME 1,715   (4,623)    
OTHER COMPREHENSIVE INCOME/(LOSS)          
Change in unrealized gain on investments available-for-sale, net of tax effect 0   0    
Foreign currency translation adjustments, net of tax effect (5,523)   (12,240)    
COMPREHENSIVE INCOME $ (3,808)   $ (16,841)    
As Previously Reported          
ASSETS          
Cash and cash equivalents         64,531
Restricted cash         13,671
Trading securities         212,319
Available-for-sale securities, at fair value         2
Brokerage and other receivables, net         21,109
Loans issued         8,754
Deferred tax assets         1,046
Fixed assets, net         2,362
Intangible assets, net         0
Goodwill         1,798
Other assets, net         4,494
TOTAL ASSETS         330,086
LIABILITIES AND STOCKHOLDERS' EQUITY          
Securities sold, not yet purchased - at fair value         1,135
Loans received         7,143
Debt securities issued         10,840
Customer liabilities         21,855
Trade payables         8,998
Deferred distribution payments         8,534
Securities repurchase agreement obligation         154,775
Deferred income tax liabilities         387
Other liabilities         1,319
TOTAL LIABILITIES         214,986
STOCKHOLDERS' EQUITY          
Preferred stock         0
Common stock         58
Additional paid in capital         87,049
Retained earnings         35,387
Accumulated other comprehensive loss         (7,394)
TOTAL STOCKHOLDERS' EQUITY         115,100
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY         330,086
Revenue:          
Fee and commission income   $ 1,548   $ 4,403  
Net gain on trading securities   32,134   39,143  
Interest income   1,005   3,589  
Net (loss) on derivatives   (670)   (180)  
Net gain/(loss) on foreign exchange operations   934   1,551  
TOTAL REVENUE, NET   34,951   48,506  
Expense:          
Interest expense   3,022   5,009  
Fee and commission expense   437   675  
Operating expense   2,918   5,829  
Other expense/(income), net   (44)   34  
TOTAL EXPENSE   6,333   11,547  
NET INCOME BEFORE INCOME TAX   28,618   36,959  
Income tax benefit   (1,018)   (987)  
NET INCOME   27,600   35,972  
OTHER COMPREHENSIVE INCOME/(LOSS)          
Change in unrealized gain on investments available-for-sale, net of tax effect   0   0  
Foreign currency translation adjustments, net of tax effect   (2,618)   (4,376)  
COMPREHENSIVE INCOME   24,982   31,596  
Revision          
ASSETS          
Cash and cash equivalents         1,200
Restricted cash         8,291
Trading securities         276
Available-for-sale securities, at fair value         238
Brokerage and other receivables, net         3,745
Loans issued         0
Deferred tax assets         (274)
Fixed assets, net         209
Intangible assets, net         5,531
Goodwill         1,490
Other assets, net         79
TOTAL ASSETS         20,785
LIABILITIES AND STOCKHOLDERS' EQUITY          
Securities sold, not yet purchased - at fair value         0
Loans received         0
Debt securities issued         382
Customer liabilities         8,817
Trade payables         15
Deferred distribution payments         0
Securities repurchase agreement obligation         0
Deferred income tax liabilities         (387)
Other liabilities         57
TOTAL LIABILITIES         8,884
STOCKHOLDERS' EQUITY          
Preferred stock         0
Common stock         0
Additional paid in capital         13,131
Retained earnings         (1,036)
Accumulated other comprehensive loss         (163)
TOTAL STOCKHOLDERS' EQUITY         11,932
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY         20,816
Revenue:          
Fee and commission income   467   669  
Net gain on trading securities   251   373  
Interest income   133   196  
Net (loss) on derivatives   0   0  
Net gain/(loss) on foreign exchange operations   22   64  
TOTAL REVENUE, NET   873   1,302  
Expense:          
Interest expense   161   204  
Fee and commission expense   66   117  
Operating expense   864   1,617  
Other expense/(income), net   (10)   (43)  
TOTAL EXPENSE   1,081   1,895  
NET INCOME BEFORE INCOME TAX   (208)   (593)  
Income tax benefit   20   22  
NET INCOME   (188)   (571)  
OTHER COMPREHENSIVE INCOME/(LOSS)          
Change in unrealized gain on investments available-for-sale, net of tax effect   106   47  
Foreign currency translation adjustments, net of tax effect   11,536   11,126  
COMPREHENSIVE INCOME   11,454   10,602  
(Recast)          
ASSETS          
Cash and cash equivalents [1]         65,731
Restricted cash [1]         21,962
Trading securities [1]         212,595
Available-for-sale securities, at fair value [1]         240
Brokerage and other receivables, net [1]         24,885
Loans issued [1]         8,754
Deferred tax assets [1]         772
Fixed assets, net [1]         2,571
Intangible assets, net [1]         5,531
Goodwill [1]         3,288
Other assets, net [1]         4,573
TOTAL ASSETS [1]         350,902
LIABILITIES AND STOCKHOLDERS' EQUITY          
Securities sold, not yet purchased - at fair value [1]         1,135
Loans received [1]         7,143
Debt securities issued [1]         11,222
Customer liabilities [1]         30,672
Trade payables [1]         9,013
Deferred distribution payments [1]         8,534
Securities repurchase agreement obligation [1]         154,775
Deferred income tax liabilities [1]         0
Other liabilities [1]         1,376
TOTAL LIABILITIES [1]         223,870
STOCKHOLDERS' EQUITY          
Preferred stock [1]         0
Common stock [1]         58
Additional paid in capital [1]         100,180
Retained earnings [1]         34,351
Accumulated other comprehensive loss [1]         (7,557)
TOTAL STOCKHOLDERS' EQUITY [1]         127,032
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY [1]         $ 350,902
Revenue:          
Fee and commission income [1]   2,015   5,072  
Net gain on trading securities [1]   32,385   39,516  
Interest income [1]   1,138   3,785  
Net (loss) on derivatives [1]   (670)   (180)  
Net gain/(loss) on foreign exchange operations [1]   956   1,615  
TOTAL REVENUE, NET [1]   35,824   49,808  
Expense:          
Interest expense [1]   3,183   5,213  
Fee and commission expense [1]   503   792  
Operating expense [1]   3,782   7,446  
Other expense/(income), net [1]   (54)   (9)  
TOTAL EXPENSE [1]   7,414   13,442  
NET INCOME BEFORE INCOME TAX [1]   28,410   36,366  
Income tax benefit [1]   (998)   (965)  
NET INCOME [1]   27,412   35,401  
OTHER COMPREHENSIVE INCOME/(LOSS)          
Change in unrealized gain on investments available-for-sale, net of tax effect [1]   106   47  
Foreign currency translation adjustments, net of tax effect [1]   8,918   6,750  
COMPREHENSIVE INCOME [1]   $ 36,436   $ 42,198  
[1] See Notes 2 and 3 for information regarding recast amounts and basis of financial statement presentation.