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CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
3 Months Ended 9 Months Ended
May 31, 2012
May 31, 2011
May 31, 2012
May 31, 2011
SALES $ 16,113,435 $ 12,913,331 $ 35,105,842 $ 30,858,396
COST OF SALES 13,306,308 10,483,142 28,741,219 24,856,594
GROSS PROFIT 2,807,127 2,430,189 6,364,623 6,001,802
Selling, general and administrative expenses 233,947 399,226 1,122,892 1,297,627
Depreciation and amortization 61,279 65,296 186,773 196,430
Wages and employee benefits 955,702 929,882 2,663,388 2,637,929
Total operating expenses 1,250,928 1,394,404 3,973,053 4,131,986
Income from operations 1,556,199 1,035,785 2,391,570 1,869,816
Loss on sale of property, plant and equipment   (6,988)   (2,652)
Interest and other income 7,234   7,234 23
Interest expense (743) (16,333) (743) (424,344)
Litigation gain (loss) (Note 12(a))     1,443,629 (962,137)
Total other items 6,491 (23,321) 1,450,120 (1,389,110)
Income before income taxes 1,562,690 1,012,464 3,841,690 480,706
Income taxes 625,600 408,140 1,552,793 225,768
Net income $ 937,090 $ 604,324 $ 2,288,897 $ 254,938
Basic earnings per common share $ 0.59 $ 0.30 $ 1.29 $ 0.12
Diluted earnings per common share $ 0.59 $ 0.30 $ 1.29 $ 0.12
Basic 1,599,851 2,002,355 1,773,859 2,108,585
Diluted 1,599,851 2,002,355 1,773,859 2,108,585