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Earnings per Share
 6 Months Ended
Jun. 30, 2012
Earnings per Share

(11) Earnings per Share

 

For the three months and six months ended June 30, 2012 and 2011, there were no securities with dilutive effect issued and outstanding. The basic and diluted net income per share were calculated as follows:

 

    Three Months Ended
June 30,		  
    2012     2011  
Basic income per share            
Net Income for the period – numerator   $ 3,610,790     $ 5,860,950  
Weighted average common stock outstanding – denominator     18,459,775       18,350,186  
Net income per share   $ 0.20     $ 0.32  
                 
Diluted income per share                
Net Income for the period – numerator   $ 3,610,790     $ 5,860,950  
Weighted average common stock outstanding – denominator     18,459,775       18,350,186  
Effect of dilution     -       -  
Weighted average common stock outstanding – denominator     18,459,775       18,350,186  
Diluted income per share   $ 0.20     $ 0.32  

 

    Six Months Ended
June 30,		  
    2012     2011  
Basic income per share            
Net Income for the period – numerator   $ 8,292,481     $ 10,713,874  
Weighted average common stock outstanding – denominator     18,453,754       18,348,464  
Net income per share   $ 0.45     $ 0.58  
                 
Diluted income per share                
Net Income for the period – numerator   $ 8,292,481     $ 10,713,874  
Weighted average common stock outstanding – denominator     18,453,754       18,348,464  
Effect of dilution     -       -  
Weighted average common stock outstanding – denominator     18,453,754       18,348,464  
Diluted income per share   $ 0.45     $ 0.58