XML 28 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Operations (USD $)
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Net revenues (note 16) $ 97,064,967 $ 84,578,505 $ 80,939,212
Cost of revenues (note 16):      
Cost of revenues 68,088,387 58,494,849 53,187,917
Network expenses (*) 4,837,650 4,648,899 4,748,189
Depreciation of property and equipment 750,455 1,032,368 1,673,191
Amortization of intangible assets 85,590 299,208 116,796
Total cost of revenues 73,762,082 64,475,324 59,726,093
Gross profit 23,302,885 20,103,181 21,213,119
Expenses:      
Sales and marketing (*) 7,442,681 7,217,754 5,812,007
Technical operations and development (*) 4,868,228 4,577,898 4,550,704
General and administrative (*) 6,096,596 5,123,074 4,537,882
Depreciation of property and equipment 187,005 170,844 266,251
Loss on disposition of property and equipment 42,165   40,893
Amortization of intangible assets 1,004,950 1,442,160 1,442,160
Loss (gain) on currency forward contracts (note 2(k)) 535,223 (872,539) (3,158,550)
Total expenses 20,176,848 17,659,191 13,491,347
Income from operations 3,126,037 2,443,990 7,721,772
Other income (expense):      
Interest expense, net (50,404) (116,197) (225,140)
Other income, net (note 11) 374,977 0 4,493,190
Total other income (expense) 324,573 (116,197) 4,268,050
Income before provision for income taxes 3,450,610 2,327,793 11,989,822
Provision for (recovery of) income taxes (note 10) (2,719,621) 210,845 (251,384)
Net income for the year 6,170,231 2,116,948 12,241,206
Basic earnings per common share (note 12) (in Dollars per share) $ 0.12 $ 0.04 $ 0.18
Shares used in computing basic earnings per common share (note 12) (in Shares) 53,454,675 57,982,248 69,145,001
Diluted earnings per common share (note 12) (in Dollars per share) $ 0.11 $ 0.04 $ 0.17
Shares used in computing diluted earnings per common share (note 12) (in Shares) 55,749,433 59,955,788 70,356,013
* Stock-based compensation has been included in operating expenses as follows:      
Cost of revenues 22,972 22,406 15,957
Sales and marketing 91,244 96,300 58,782
Technical operations and development 51,984 71,012 49,302
General and administrative $ 144,756 $ 210,284 $ 171,220