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EARNINGS PER SHARE
 12 Months Ended
Dec. 31, 2011
EARNINGS PER SHARE

15. EARNINGS PER SHARE

 

The calculation of earnings per share is as follows:

 

     Year ended December 31,  
     2009      2010      2011  

Net income attributable to Daqo New Energy Corp.

    $ 30,132,262       $ 65,271,257       $ 33,323,952   

Numerator used in basic and diluted earnings per share:

         

Net income attributable to Daqo New Energy Corp. ordinary shareholders—basic

    $ 28,931,091       $ 54,691,886       $ 33,323,952   
  

 

 

     

 

 

     

 

 

  

Net income attributable to preferred shareholders for participating rights to dividends—basic

    $ 1,201,171       $ 10,579,371       $ —   
  

 

 

     

 

 

     

 

 

  

Net income attributable to Daqo New Energy Corp. ordinary shareholders—diluted

    $ 30,132,262       $ 65,271,257       $ 33,323,952   
  

 

 

     

 

 

     

 

 

  

Denominator used in basic and diluted earnings per share:

         

Weighted average number of ordinary shares outstanding used in computing earnings per share—basic

      100,000,000         117,839,487         175,714,103   
  

 

 

     

 

 

     

 

 

  

Weighted average ordinary shares as if converted by Series A convertible redeemable preferred shares—basic

      4,151,834         22,794,380         —   

Share options

      —         92,456         —   
  

 

 

     

 

 

     

 

 

  

Weighted average number of ordinary shares outstanding used in computing earnings per share—diluted

      104,151,834         140,726,323         175,714,103   
  

 

 

     

 

 

     

 

 

  

NET INCOME ATTRIBUTABLE TO DAQO NEW ENERGY CORP. PER ORDINARY SHARE—Basic

    $ 0.29       $ 0.46       $ 0.19   
  

 

 

     

 

 

     

 

 

  

NET INCOME ATTRIBUTABLE TO DAQO NEW ENERGY CORP. PER ORDINARY SHARE—Diluted

    $ 0.29       $ 0.46       $ 0.19   
  

 

 

     

 

 

     

 

 

  

 

Outstanding 5,350,000, 2,295,000 and 6,805,000 employee options were excluded from the computation of diluted earnings per share as their effects would have been anti-dilutive for the year ended December 31, 2009, 2010 and 2011, respectively.