XML 46 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Operations and Comprehensive Income (Unaudited) (USD $)
 3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Net revenues (note 9) $ 29,985,022 $ 27,537,306
Cost of revenues (note 9):    
Cost of revenues 22,077,899 19,267,125
Network expenses (*) 1,254,213 1,256,890
Depreciation of property and equipment 137,072 147,418
Amortization of intangible assets (note 5) 35,910 35,910
Total cost of revenues 23,505,094 20,707,343
Gross profit 6,479,928 6,829,963
Expenses:    
Sales and marketing (*) 2,847,086 2,184,635
Technical operations and development (*) 1,133,830 1,113,145
General and administrative (*) 1,698,632 1,783,453
Depreciation of property and equipment 50,939 47,415
Amortization of intangible assets (note 5) 219,030 219,030
Loss (gain) on currency forward contracts (note 4) 234,638 (562,109)
Total expenses 6,184,155 4,785,569
Income from operations 295,773 2,044,394
Other income (expense):    
Interest expense, net (99,362) (40,969)
Other income, net   508,800
Total other income (expense) (99,362) 467,831
Income before provision for income taxes 196,411 2,512,225
Provision for income taxes (note 7) 119,832 848,606
Net income 76,579 1,663,619
Other comprehensive income (loss), net of tax of $96,777 (185,785)  
Comprehensive income (loss) for the period (109,206) 1,663,619
Basic earnings per common share (note 8) (in Dollars per share) $ 0.00 $ 0.04
Shares used in computing basic earnings per common share (note 8) (in Shares) 40,331,438 46,221,465
Diluted earnings per common share (note 8) (in Dollars per share) $ 0.00 $ 0.03
Shares used in computing diluted earnings per common share (note 8) (in Shares) 44,311,323 48,954,451
(*) Stock-based compensation has been included in operating expenses as follows:    
Network expenses 6,126 6,046
Sales and marketing 26,410 22,782
Technical operations and development 15,247 12,843
General and administrative $ 27,059 $ 20,794