XML 54 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Income Statement [Abstract]        
REVENUES $ 17,528,018 $ 17,214,134 $ 35,163,289 $ 31,098,833
COST OF REVENUES 13,443,581 13,241,114 26,805,566 23,995,723
GROSS PROFIT 4,084,437 3,973,020 8,357,723 7,103,110
OPERATING EXPENSES:        
Depreciation 118,410 244,673 228,269 351,887
Selling, general and administrative 935,715 620,151 1,823,185 1,358,151
Total Operating Expenses 1,054,125 864,824 2,051,454 1,710,038
INCOME FROM OPERATIONS 3,030,312 3,108,196 6,306,269 5,393,072
OTHER INCOME (EXPENSE):        
Interest income 3,905 688 9,145 1,169
Interest expense (60,099) (64,526) (117,826) (169,653)
Grant income 199    32,086   
Foreign currency transaction gain (loss) 1,270 (5,979) 1,270 (5,979)
Other income 33,866 8,152 33,866 37,082
Total Other Income (Expense), net (20,859) (61,665) (41,459) (137,381)
INCOME BEFORE INCOME TAXES 3,009,453 3,046,531 6,264,810 5,255,691
INCOME TAXES 791,549 723,978 1,650,548 1,310,538
NET INCOME 2,217,904 2,322,553 4,614,262 3,945,153
COMPREHENSIVE INCOME:        
NET INCOME 2,217,904 2,322,553 4,614,262 3,945,153
OTHER COMPREHENSIVE INCOME (LOSS):        
Unrealized foreign currency translation gain (loss) 106,313 1,217,027 (675,475) 1,645,467
COMPREHENSIVE INCOME $ 2,324,217 $ 3,539,580 $ 3,938,787 $ 5,590,620
NET INCOME PER COMMON SHARE:        
Basic $ 0.61 $ 0.79 $ 1.29 $ 1.35
Diluted $ 0.61 $ 0.79 $ 1.29 $ 1.35
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:        
Basic 3,632,222 2,955,786 3,568,219 2,925,355
Diluted 3,632,222 2,955,786 3,568,219 2,925,355