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CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND OTHER COMPREHENSIVE INCOME (USD $)
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3 Months Ended | 6 Months Ended | ||
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Jun. 30, 2011
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Jun. 30, 2010
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Jun. 30, 2011
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Jun. 30, 2010
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| Revenue | $ 31,350,652 | $ 22,835,358 | $ 59,992,387 | $ 42,384,375 |
| Cost of Goods Sold | 17,931,598 | 11,796,140 | 34,739,768 | 21,729,456 |
| Gross Profit | 13,419,054 | 11,039,218 | 25,252,619 | 20,654,919 |
| Operating Expenses | ||||
| Research and development expenses | 298,257 | 38,980 | 444,058 | 86,420 |
| Selling, general and administrative expenses | 2,076,392 | 1,953,851 | 3,961,029 | 4,522,360 |
| Operating income | 11,044,407 | 9,046,387 | 20,847,534 | 16,046,139 |
| Other Income (Expenses) | ||||
| Interest income | 112,173 | 80,138 | 219,392 | 187,336 |
| Interest (expense) | (133) | (39,793) | ||
| Other income | 24,823 | 20,378 | ||
| Foreign currency transaction (loss) | (90,677) | (90,677) | ||
| Change in fair value of warrants | 2,189,565 | 4,191,406 | 11,209,384 | 5,397,280 |
| Total other income | 2,235,884 | 4,271,411 | 11,358,477 | 5,544,823 |
| Equity gain (loss) from unconsolidated entity | (923) | 3,315 | (12,887) | 1,876 |
| Income before Income Taxes | 13,279,368 | 13,321,113 | 32,193,124 | 21,592,838 |
| Income tax expense | 3,007,163 | 810,875 | 4,951,713 | 1,558,027 |
| Net income | 10,272,205 | 12,510,238 | 27,241,411 | 20,034,811 |
| Foreign currency translation adjustment | 3,452,741 | 811,204 | 4,621,987 | 1,230,789 |
| Comprehensive Income | $ 13,724,946 | $ 13,321,442 | $ 31,863,398 | $ 21,265,600 |
| Earnings per share - basic | $ 0.13 | $ 0.20 | $ 0.36 | $ 0.33 |
| Earnings per share - diluted | $ 0.12 | $ 0.18 | $ 0.33 | $ 0.29 |
| Weighted average number of common shares outstanding - basic | 76,444,372 | 61,549,661 | 76,430,526 | 61,544,259 |
| Weighted average number of common shares outstanding - diluted | 82,613,233 | 68,661,790 | 82,599,387 | 68,656,388 |
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- Definition
The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the reporting entity. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, but excludes any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total costs related to goods produced and sold during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate realized and unrealized gain on foreign currency transactions included in net income. Includes gain on a foreign currency forward exchange contract. Does not include foreign currency transactions designated as hedges of net investment in a foreign entity or intercompany foreign currency transactions that are of a long-term nature. Gross of tax effect. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The increase (decrease) during the period, which was recognized in earnings, in the unrealized gains or losses on derivative instruments that are not or are no longer designated as hedging instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cost of borrowed funds accounted for as interest that was charged against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Income derived from investments in debt securities and on cash and cash equivalents the earnings of which reflect the time value of money or transactions in which the payments are for the use or forbearance of money. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Details
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- Definition
The net result for the period of deducting operating expenses from operating revenues.
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- Definition
Adjustment that results from the process of translating subsidiary financial statements and foreign equity investments into the reporting currency of the reporting entity, net of tax. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Reflects the sum of all other revenue and income recognized by the entity in the period not otherwise specified in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate amount of other income amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) profits on securities (net of losses), and (d) miscellaneous other income items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility, and costs allocated in accounting for a business combination to in-process projects deemed to have no alternative future use. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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