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Net Income per Share (Tables)
12 Months Ended
Dec. 31, 2012
Computation of Basic and Diluted Net Income per Share Attributable to Ordinary Shareholders

The following table sets forth the computation of basic and diluted net income per share attributable to ordinary shareholders:

 

     Years Ended December 31,  
     2010     2011      2012  

Net income attributable to ordinary shareholders

   $ 11,422,021      $ 23,969,950       $ 22,826,454   

Less: Amounts allocated to Series A convertible redeemable preferred shares for participating rights to dividends

     (2,661,886     —           —     
  

 

 

   

 

 

    

 

 

 

Net income attributable to ordinary shareholders—basic and diluted

   $ 8,760,135      $ 23,969,950       $ 22,826,454   
  

 

 

   

 

 

    

 

 

 

Weighted average number of ordinary shares outstanding—basic

     16,665,918        27,894,953         27,751,335   

Plus: share options

     447,139        607,791         249,756   

Plus: non-vested restricted shares

     1,917,055        18,528         72,640   
  

 

 

   

 

 

    

 

 

 

Weighted average number of ordinary shares outstanding—diluted

     19,030,112        28,521,272         28,073,731   
  

 

 

   

 

 

    

 

 

 

Basic net income per share

   $ 0.53      $ 0.86       $ 0.82   

Diluted net income per share

   $ 0.46      $ 0.84       $ 0.81   
Antidilutive Securities Excluded from Computation of Earning Per Share

Diluted net income per share does not include the following instruments as their inclusion would be antidilutive:

 

     Years Ended December 31,  
     2010      2011      2012  

Share options

     253,100        626,319         570,432   

Series A convertible redeemable preferred shares

     5,900,000         —           —     
  

 

 

    

 

 

    

 

 

 
     6,153,100         626,319         570,432