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EARNINGS (LOSS) PER SHARE (Tables)
6 Months Ended
Jun. 30, 2013
EARNINGS (LOSS) PER SHARE  
Schedule of reconciliation of net income (loss) and weighted average common shares outstanding for purposes of calculating basic and diluted net income (loss) per share

 

 

 

Three Months Ended

 

Six Months Ended

 

 

 

June 30,

 

June 30,

 

 

 

(Unaudited)

 

(Unaudited)

 

 

 

2013

 

2012

 

2013

 

2012

 

Basic:

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

Net income (loss)

 

$

(4,004,029

)

$

(1,974,121

)

$

2,347,443

 

$

10,410,139

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

Basic - weighted average common shares outstanding

 

21,831,665

 

21,449,378

 

21,777,561

 

21,385,418

 

 

 

 

 

 

 

 

 

 

 

Basic EPS

 

$

(0.18

)

$

(0.09

)

$

0.11

 

$

0.49

 

 

 

 

 

 

 

 

 

 

 

Diluted:

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

$

(4,004,029

)

$

(1,974,121

)

$

2,347,443

 

$

10,410,139

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding

 

21,831,665

 

21,449,378

 

21,777,561

 

21,385,418

 

Effect of Dilutive Securities:

 

 

 

 

 

 

 

 

 

Stock options

 

 

 

342,112

 

433,075

 

 

 

21,831,665

 

21,449,378

 

22,119,673

 

21,818,493

 

 

 

 

 

 

 

 

 

 

 

Diluted EPS

 

$

(0.18

)

$

(0.09

)

$

0.11

 

$

0.48