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Earnings Per Share
 12 Months Ended
Dec. 31, 2011
Earnings Per Share

(11) Earnings Per Share

 

For the years ended December 31, 2011, 2010 and 2009, basic and diluted net income per share are calculated as follows:

 

          Year Ended        
    December 31,  
    2011     2010     2009  
Basic income per share                        
Net Income for the year – numerator   $ 21,648,664     $ 15,551,536     $ 12,720,208  
Weighted average common stock outstanding – denominator     18,349,332       17,435,218       12,221,782  
Net income per share   $ 1.18     $ 0.89     $ 1.04  
                         
Diluted income per share                        
Net Income for the year – numerator   $ 21,648,664     $ 15,551,536     $ 12,720,208  
Weighted average common stock outstanding - denominator     18,349,332       17,435,218       12,221,782  
Effect of dilution                        
Warrant     -       1,028       11,096  
Weighted average common stock outstanding - denominator     18,349,332       17,436,246       12,232,878  
Diluted income per share   $ 1.18     $ 0.89     $ 1.04