XML 29 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (USD $)
3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
NET REVENUE $ 169,086,267 $ 136,931,096
Cost of sales (150,451,275) (120,023,023)
GROSS PROFIT 18,634,992 16,908,073
Selling expenses (686,006) (523,036)
General and administrative expenses (2,097,834) (1,573,312)
Income from operations 15,851,152 14,811,725
Other income (expenses):    
Interest income 163,136 133,105
Interest expenses   (21,466)
Gain on extinguishment of warrant liabilities 73,291 60,724
Change in fair value of warrants (430,000) 1,375,101
Other income 94,779 75,951
Total other income (expenses) (98,794) 1,623,415
Income before income taxes 15,752,358 16,435,140
Provision for income taxes (4,277,346) (3,923,154)
NET INCOME 11,475,012 12,511,986
OTHER COMPREHENSIVE INCOME:    
Foreign currency translation adjustments 208,402 1,664,517
COMPREHENSIVE INCOME $ 11,683,414 $ 14,176,503
Net income per share    
Basic $ 0.39 $ 0.42
Diluted $ 0.38 $ 0.41
Weighted average number of shares outstanding    
Basic 29,800,624 29,858,780
Diluted 30,080,154 30,313,996