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BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 9 Months Ended
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Sep. 30, 2012
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract] |
Depreciation and Amortization policies on Property, Plant and Equipment, other than Mineral Rights and Construction in Progress |
|  | Useful life (in years)
Buildings (including salt pans) |  | 8 - 20
Plant and machinery (including protective shells, transmission channels and ducts) |  | 5 - 8
Motor vehicles |  | 5
Furniture, fixtures and equipment |  | 8
Computation of Basic and Diluted Earnings Per Share |
|  | Three-Month Period Ended September 30, |  |  | Nine-Month Period Ended September 30, |
|  | 2012 |  |  | 2011 |  |  | 2012 |  |  | 2011 |
Numerator |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 4,113,216 |  |  | $ | 5,584,346 |  |  | $ | 13,088,997 |  |  | $ | 29,972,600 |
Denominator |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic: Weighted-average common shares outstanding during the period |  |  | 34,560,743 |  |  |  | 34,620,004 |  |  |  | 34,560,743 |  |  |  | 34,694,607 |
Add: Dilutive effect of stock options |  |  | 139,246 |  |  |  | - |  |  |  | 396,476 |  |  |  | 1,057 |
Diluted |  |  | 34,699,989 |  |  |  | 34,620,004 |  |  |  | 34,957,219 |  |  |  | 34,695,664 |
Net income per share |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.12 |  |  | $ | 0.16 |  |  | $ | 0.38 |  |  | $ | 0.86 |
Diluted |  | $ | 0.12 |  |  | $ | 0.16 |  |  | $ | 0.37 |  |  | $ | 0.86 |

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- Details
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