Income per share

6 Months Ended

Jun. 30, 2015

26.

Income per share

Basic income per share is calculated by dividing net income by the weighted average number of common shares outstanding during the period. Diluted income per share is calculated using the weighted average number of ordinary shares and dilutive ordinary share equivalents outstanding during the period. The dilutive effect of outstanding stock options is determined based on the treasury stock method.

The calculation of basic and diluted income per share attributable to the parent company for the three months ended June 30, 2015 and 2014, was (figures are in thousands of USD , except share and per share amounts ):

	Three Months Ended June 30,
	2015		2014
Numerator:
Net income attributable to the parent company’s common shareholders – Basic and Diluted	$	7,659	$	11,006
Denominator:
Weighted average shares outstanding		32,121,019		28,043,019
Dilutive effects of stock options		17,419		21,357
Denominator for dilutive income per share – Diluted		32,138,438		28,064,376

Net income per share attributable to parent company’s common shareholders – Basic	$	0.24	$	0.39
Net income per share attributable to parent company’s common shareholders – Diluted	$	0.24	$	0.39

As of June 30, 2015 and 2014, the exercise prices for 60,000 shares and 60,000 shares, respectively, of outstanding stock options were above the weighted average market price of the Company’s common stock during the three months ended June 30, 2015 and 2014, respectively, and these stock options were excluded from the calculation of the diluted income per share for the corresponding periods presented.

The calculation of basic and diluted income per share attributable to the parent company for the six months ended June 30, 2015 and 2014, were (figures are in thousands of USD , except share and per share amounts ):

	Six Months Ended June 30,
	2015		2014
Numerator:
Net income attributable to the parent company’s common shareholders – Basic and Diluted	$	16,171	$	17,781
Denominator:
Weighted average shares outstanding		32,121,019		28,043,019
Dilutive effects of stock options		15,566		20,920
Denominator for dilutive income per share – Diluted		32,136,585		28,063,939

Net income per share attributable to parent company’s common shareholders – Basic	$	0.50	$	0.63
Net income per share attributable to parent company’s common shareholders – Diluted	$	0.50	$	0.63

As of June 30, 2015 and 2014, the exercise prices for 60,000 shares and 60,000 shares, respectively, of outstanding stock options were above the weighted average market price of the Company’s common stock during the six months ended June 30, 2015 and 2014, respectively, and these stock options were excluded from the calculation of the diluted income per share for the corresponding periods presented.