XML 38 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Revenue $ 14,598,403 $ 19,600,852 $ 30,685,134 $ 37,720,409
Cost of revenue 10,460,047 12,318,868 21,242,431 23,568,814
Gross profit 4,138,356 7,281,984 9,442,703 14,151,595
Operating expenses:        
Selling expenses 881,945 799,220 1,776,005 1,403,701
General and administrative expenses 812,741 986,949 1,489,143 1,903,894
Bad debt expense (benefit) 233,139 (118,704) 553,237 (109,276)
Total operating expenses 1,927,825 1,667,465 3,818,385 3,198,319
Government subsidy income 0 145,447 0 145,447
Income from operations 2,210,531 5,759,966 5,624,318 11,098,723
Other income (expense):        
Interest income 791 2,454 1,481 4,415
Interest expense (78,472) (61,222) (156,009) (122,436)
Derivative gain 0 256,762 0 934,260
Net other income (expense) (77,681) 197,994 (154,528) 816,239
Income before income taxes 2,132,850 5,957,960 5,469,790 11,914,962
Income tax expense (372,932) (888,890) (903,513) (1,742,270)
Net income 1,759,918 5,069,070 4,566,277 10,172,692
Other comprehensive income - foreign currency translation adjustment 106,311 1,709,951 972,885 2,847,989
Comprehensive income $ 1,866,229 $ 6,779,021 $ 5,539,162 $ 13,020,681
Earnings per Share:        
Basic $ 0.04 $ 0.12 $ 0.10 $ 0.23
Diluted $ 0.04 $ 0.12 $ 0.10 $ 0.23