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EARNINGS PER SHARE (Tables)
 9 Months Ended
Sep. 30, 2013
Earnings Per Share [Abstract]  
Reconciliation of Basic and Diluted Net Income Per Share
The following table presents a reconciliation of basic and diluted net income per share:
 
 
 
For the Three Months Ended September 30,
 
For the Nine Months Ended September 30,
 
 
 
2013
 
2012
 
2013
 
2012
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income
 
$
10,994,695
 
$
8,366,617
 
$
20,353,591
 
$
25,261,540
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted average number of common shares outstanding - Basic
 
 
64,334,400
 
 
53,578,218
 
 
63,073,008
 
 
53,286,072
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Effect of dilutive securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
Unexercised warrants and options
 
 
152,538
 
 
668,345
 
 
237,026
 
 
914,480
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted average number of common shares outstanding - Diluted
 
 
64,486,938
 
 
54,246,563
 
 
63,310,034
 
 
54,200,552
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings per share-Basic
 
$
0.17
 
$
0.16
 
$
0.32
 
$
0.47
 
Earnings per share-Diluted
 
$
0.17
 
$
0.15
 
$
0.32
 
$
0.47