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Consolidated Income Statements (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
REVENUES $ 12,608,181 $ 18,977,274 $ 30,174,561 $ 35,817,956
COST OF REVENUES 9,557,236 14,000,017 22,571,010 26,424,004
GROSS PROFIT 3,050,945 4,977,257 7,603,551 9,393,952
OPERATING EXPENSES:        
Depreciation 340,208 78,060 420,795 161,015
Selling, general and administrative 1,028,695 894,805 1,860,496 2,296,181
Total Operating Expenses 1,368,903 972,865 2,281,291 2,457,196
INCOME FROM OPERATIONS 1,682,042 4,004,392 5,322,260 6,936,756
OTHER INCOME (EXPENSE):        
Interest income 118 1,478 830 2,722
Interest expense (32,826) (18,494) (62,528) (93,413)
Foreign currency loss (1,884) (5,042) (3,341) (6,901)
Grant income 0 49,146 0 49,146
Other income 68,463 0 77,113 0
Total Other Income (Expense) 33,871 27,088 12,074 (48,446)
INCOME BEFORE INCOME TAXES 1,715,913 4,031,480 5,334,334 6,888,310
INCOME TAXES 545,954 1,007,823 1,499,215 1,918,116
NET INCOME 1,169,959 3,023,657 3,835,119 4,970,194
COMPREHENSIVE INCOME:        
NET INCOME 1,169,959 3,023,657 3,835,119 4,970,194
OTHER COMPREHENSIVE INCOME:        
Unrealized foreign currency translation gain 1,084,955 208,813 1,490,783 216,083
COMPREHENSIVE INCOME, TOTAL $ 2,254,914 $ 3,232,470 $ 5,325,902 $ 5,186,277
NET INCOME PER COMMON SHARE:        
Basic $ 0.06 $ 0.17 $ 0.20 $ 0.29
Diluted $ 0.05 $ 0.12 $ 0.15 $ 0.20
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:        
Basic 19,196,600 17,574,225 19,062,028 17,414,400
Diluted 25,097,570 25,210,214 25,377,608 25,193,517