XML 28 R13.htm IDEA: XBRL DOCUMENT v2.4.0.6
NOTE 7 - EARNINGS PER SHARE
 6 Months Ended
Dec. 31, 2011
Earnings Per Share [Text Block]
NOTE 7 – EARNINGS PER SHARE

We report earnings per share in accordance with ASC 260, “Earnings Per Share.”  Basic earnings per share are computed using the weighted average number of shares outstanding during the fiscal year. Diluted earnings per share represent basic earnings per share adjusted to include the potentially dilutive effect of outstanding stock options. The weighted average number of shares outstanding used to compute earnings per share is as follows:

             
   
Three Months ended
December 31,
   
Six Months Ended
December 31,
 
   
2011
   
2010
   
2011
   
2010
 
Net income (loss) before non-controlling interests
  $ (675,037 )   $ 2,403,183     $ (1,408,619 )   $ 3,365,836  
Non-controlling interests in net loss (income) of subsidiary
    186,847       (371,906 )     467,845       (207,740 )
Net income (loss)
  $ (488,190 )   $ 2,031,277     $ (940,774 )   $ 3,158,096  
                                 
Weighted-average shares of common stock outstanding:
                               
    Basic
    11,837,559       11,977,808       11,834,788       12,717,023  
    Dilutive effect of common stock equivalents arising from stock options
    213,365       172,957       213,365       172,957  
Outstanding shares (diluted)
    12,050,924       12,150,765       12,048,153       12,889,980  
                                 
Basic earnings (loss) per share
  $ (0.04 )   $ 0.17     $ (0.08 )   $ 0.25  
                                 
Diluted earnings (loss) per share
  $ (0.04 )   $ 0.17     $ (0.08 )   $ 0.25