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EARNINGS PER SHARE (Tables)
 3 Months Ended
Mar. 31, 2014
EARNINGS PER SHARE  
Schedule of reconciliation of net income and weighted average common shares outstanding for purposes of calculating basic and diluted earnings per share common share

 

 

 

Three Months Ended

 

 

 

March 31,

 

 

 

(Unaudited)

 

 

 

2014

 

2013

 

Basic:

 

 

 

 

 

Numerator:

 

 

 

 

 

Net income

 

$

4,279,703

 

$

6,351,472

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

Basic - weighted average common shares outstanding

 

21,956,067

 

21,722,855

 

 

 

 

 

 

 

Basic EPS

 

$

0.19

 

$

0.29

 

 

 

 

 

 

 

Diluted:

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

4,279,703

 

$

6,351,472

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

Weighted average common shares outstanding

 

21,956,067

 

21,722,855

 

Effect of Dilutive Securities:

 

 

 

 

 

Stock options

 

103,484

 

463,478

 

 

 

22,059,551

 

22,186,333

 

 

 

 

 

 

 

Diluted EPS

 

$

0.19

 

$

0.29