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EARNINGS PER SHARE (Tables)
9 Months Ended
Sep. 30, 2012
EARNINGS PER SHARE  
Schedule of reconciliation of net income and weighted average common shares outstanding for purposes of calculating basic and diluted net earnings per share

 

 

 

Three Months Ended

 

Nine Months Ended

 

 

 

September 30,

 

September 30,

 

 

 

(Unaudited)

 

(Unaudited)

 

 

 

2012

 

2011

 

2012

 

2011

 

Basic:

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

Net income

 

$

1,111,642

 

$

1,046,578

 

$

11,521,781

 

$

7,397,087

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

Basic - weighted average common shares outstanding

 

20,566,096

 

20,211,848

 

20,433,905

 

20,194,276

 

 

 

 

 

 

 

 

 

 

 

Basic EPS

 

$

0.05

 

$

0.05

 

$

0.56

 

$

0.37

 

 

 

 

 

 

 

 

 

 

 

Diluted:

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

1,111,642

 

$

1,046,578

 

$

11,521,781

 

$

7,397,087

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding

 

20,566,096

 

20,211,848

 

20,433,905

 

20,194,276

 

Effect of Dilutive Securities:

 

 

 

 

 

 

 

 

 

Stock options

 

312,881

 

300,913

 

381,276

 

317,785

 

 

 

20,878,977

 

20,512,761

 

20,815,181

 

20,512,061

 

 

 

 

 

 

 

 

 

 

 

Diluted EPS

 

$

0.05

 

$

0.05

 

$

0.55

 

$

0.36