XML 35 R4.htm IDEA: XBRL DOCUMENT v3.3.0.814
Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Revenue $ 10,645,824 $ 8,867,158 $ 30,772,421 $ 19,359,547
Cost of revenue 6,520,341 5,558,059 18,730,107 12,031,801
Gross profit 4,125,483 3,309,099 12,042,314 7,327,746
Operating expenses        
Research and development 75,484 219,306 545,246 638,482
Selling and shipping 312,400 314,232 900,120 972,099
General and administrative 1,871,818 1,563,136 6,007,553 4,396,715
Litigation settlement 995,000   995,000  
Total operating expenses 3,254,702 2,096,674 8,447,919 6,007,296
Operating income 870,781 1,212,425 3,594,395 1,320,450
Other income (expense)        
Interest income 5,894 9,265 17,708 23,940
Interest expense $ (22,042) (27,013) (70,907) (83,904)
Other income 2,252 781 28,463
Total other (expense) $ (16,148) (15,496) (52,418) (31,501)
Income before income taxes 854,633 1,196,929 3,541,977 1,288,949
Income tax expense 43,550 339,000 727,759 497,193
Net income $ 811,083 $ 857,929 $ 2,814,218 $ 791,756
Basic income per common share (in dollars per share) $ 0.13 $ 0.14 $ 0.46 $ 0.13
Diluted income per common share (in dollars per share) $ 0.13 $ 0.14 $ 0.45 $ 0.13
Outstanding-basic (in shares) 6,171,086 6,140,707 6,169,836 6,120,474
Net effect of potential common share issuance:        
Stock options (in shares) 94,119 114,765 111,516 116,083
Outstanding-diluted (in shares) 6,265,205 6,255,472 6,281,353 6,236,557