EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2012

EARNINGS PER SHARE

NOTE 18      EARNINGS PER SHARE

The following table is a reconciliation of the net income and the weighted average shares used in the computation of basic and diluted earnings per share for the periods presented:

	Three months ended March 31,
	2012		2011
Income available to common stockholders:
- Basic and diluted	$	11,475,012	$	12,511,986
Weighted average number of shares:
- Basic		29,800,624		29,858,780
- Effect of dilutive securities – warrants and options		279,530		455,216
- Diluted		30,080,154		30,313,996
Net income per share
- Basic	$	0.39	$	0.42
- Diluted	$	0.38	$	0.41