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Earnings per Share
 9 Months Ended
Sep. 30, 2014
Earnings per Share [Abstract]  
Earnings per Share

(15) Earnings Per Share

 

For the three months and nine months ended September 30, 2013, there were no securities with dilutive effect issued and outstanding. For the three months and nine months ended September 30, 2014, 820,312 shares related to warrants are excluded from the calculations of dilutive net income per share because their inclusion would have been anti-dilutive. The basic and diluted net income per share are calculated as follows:

 

    Three Months Ended 
  September 30, 
  2014  2013 
Basic income per share      
Net income for the period - numerator $3,372,944  $5,534,844 
Weighted average common stock outstanding - denominator  18,923,374   18,456,900 
Net income per share $0.18  $0.30 
         
Diluted income per share        
Net income for the period - numerator $3,372,944  $5,534,844 
Weighted average common stock outstanding - denominator  18,923,374   18,456,900 
Effect of dilution  -   - 
Weighted average common stock outstanding - denominator  18,923,374   18,456,900 
Diluted income per share $0.18  $0.30 

 

    Nine Months Ended 
  September 30, 
  2014  2013 
Basic income per share      
Net income for the period - numerator $9,478,346  $9,494,035 
Weighted average common stock outstanding - denominator  18,909,001   18,457,879 
Net income per share $0.50  $0.51 
         
Diluted income per share        
Net income for the period - numerator $9,478,346  $9,494,035 
Weighted average common stock outstanding - denominator  18,909,001   18,457,879 
Effect of dilution  -   - 
Weighted average common stock outstanding - denominator  18,909,001   18,457,879 
Diluted income per share $0.50  $0.51