Earnings Per Share

12 Months Ended

Jun. 30, 2013

Earnings Per Share [Abstract]

EARNINGS PER SHARE

Note 16 – Earnings Per Share

The Company presents earnings per share (“EPS”) on a basic and diluted basis. Basic earnings per share have been computed by dividing net earnings by the weighted average number of common shares outstanding. Diluted earnings per share has been computed by dividing net earnings plus convertible preferred dividends and interest expense (after-tax) on convertible debt by the weighted average number of common shares outstanding including the dilutive effect of equity securities. The weighted average number of common shares calculated for Diluted EPS excludes the potential common stock that would be exercised under the options and warrants granted to officers because the inclusion of the potential shares from these options and warrants would cause an antidilutive effect by increasing the net earnings per share.

 

	June 30, 2013		June 30, 2012
Net income attributed to Tianyin	$	6,672,151	$	6,358,690
(numerator for diluted income per share)
Less: Dividend attributable to preferred stockholders		-		-
Net income attributable to common stockholders	$	6,672,151	$	6,358,690
(numerator for basic income per share)
Weighted average common shares		29,341,695		29,308,442
(denominator for basic income per share)
Effect of diluted securities:
Convertible preferred stock		-		-
Warrants		-		-
Weighted average common shares		29,341,695		29,308,442
(denominator for diluted income per share)
Basic net income per share	$	0.23	$	0.22
Diluted net income per share	$	0.23	$	0.22