XML 68 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Comprehensive Income (USD $)
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Net revenues (note 16) $ 114,726,901 $ 97,064,967 $ 84,578,505
Cost of revenues (note 16):      
Cost of revenues 82,837,395 68,088,387 58,494,849
Network expenses (*) 4,925,058 4,837,650 4,648,899
Depreciation of property and equipment 611,640 750,455 1,032,368
Amortization of intangible assets 143,640 85,590 299,208
Total cost of revenues 88,517,733 73,762,082 64,475,324
Gross profit 26,209,168 23,302,885 20,103,181
Expenses:      
Sales and marketing (*) 8,701,446 7,442,681 7,217,754
Technical operations and development (*) 4,302,820 4,868,228 4,577,898
General and administrative (*) 6,610,819 6,096,596 5,123,074
Depreciation of property and equipment 190,420 187,005 170,844
Loss on disposition of property and equipment 118,944 42,165  
Amortization of intangible assets 876,120 1,004,950 1,442,160
Loss (gain) on currency forward contracts (note 2(l)) (682,851) 535,223 (872,539)
Total expenses 20,117,718 20,176,848 17,659,191
Income from operations 6,091,450 3,126,037 2,443,990
Other income (expense):      
Interest expense, net (192,863) (50,404) (116,197)
Other income, net (note 11) 529,711 374,977  
Total other income (expense) 336,848 324,573 (116,197)
Income before provision for income taxes 6,428,298 3,450,610 2,327,793
Provision for (recovery of) income taxes (note 10) 2,004,156 (2,719,621) 210,845
Net income 4,424,142 6,170,231 2,116,948
Other comprehensive income, net of tax of $22,975 44,104    
Comprehensive income for the year 4,468,246 6,170,231 2,116,948
Basic earnings per common share (note 12) (in Dollars per share) $ 0.10 $ 0.12 $ 0.04
Shares used in computing basic earnings per common share (note 12) (in Shares) 45,832,862 53,454,675 57,982,248
Diluted earnings per common share (note 12) (in Dollars per share) $ 0.09 $ 0.11 $ 0.04
Shares used in computing diluted earnings per common share (note 12) (in Shares) 49,134,944 55,749,433 59,955,788
Netwrok expenses 24,480 22,972 22,406
Sales and marketing 92,168 91,244 96,300
Technical operations and development 59,141 51,984 71,012
General and administrative $ 184,910 $ 144,756 $ 210,284