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Earnings per Share
9 Months Ended
Sep. 30, 2012
Earnings per Share [Abstract]  
Earnings per Share

(12) Earnings per Share

 

For the three months and nine months ended September 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
September 30,
 
    2012     2011  
Basic income per share            
Net income for the period - numerator   $ 4,379,071     $ 5,431,760  
Weighted average common stock outstanding - denominator     18,459,775       18,350,186  
Net income per share   $ 0.24     $ 0.30  
                 
Diluted income per share                
Net income for the period - numerator   $ 4,379,071     $ 5,431,760  
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   $ 0.24     $ 0.30  

 

    Nine Months Ended
September 30,
 
    2012     2011  
Basic income per share            
Net income for the period - numerator   $ 12,671,552     $ 16,145,634  
Weighted average common stock outstanding - denominator     18,455,776       18,349,044  
Net income per share   $ 0.69     $ 0.88  
                 
Diluted income per share                
Net income for the period - numerator   $ 12, 671,552     $ 16,145,634  
Weighted average common stock outstanding - denominator     18,455,776       18,349,044  
Effect of dilution     -       -  
Weighted average common stock outstanding - denominator     18,455,776       18,349,044  
Diluted income per share   $ 0.69     $ 0.88