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EARNINGS PER SHARE
9 Months Ended
Jul. 31, 2011
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]
15.        EARNINGS PER SHARE

When calculating diluted earnings per share for common stock equivalents, the Earnings per Share Topic, ASC 260, requires the Company to include the potential shares that would be outstanding if all outstanding stock options or warrants were exercised.   This is offset by shares the Company could repurchase using the proceeds from these hypothetical exercises to obtain the common stock equivalent.

The following reconciles the components of the EPS computation:

  
 
Income
   
Shares
   
Per Share
 
  
 
(Numerator)
   
(Denominator)
   
Amount
 
  
 
US$
         
US$
 
For the three months ended July 31, 2011:
                 
Net income
    2,519,845              
Basic EPS income available to common shareholders
    2,519,845       37,239,536       0.07  
Effect of dilutive securities:
                       
Share options
                       
Warrants
            234,375          
Diluted EPS income available to common shareholders
    2,519,845       37,473,911       0.07  
                         
For the three months ended July 31, 2010:
                       
Net income
    1,456,309                  
Basic EPS income available to common shareholders
    1,456,309       37,239,536       0.04  
Effect of dilutive securities:
                       
Share options
            26,392          
Warrants
            635,161          
Diluted EPS income available to common shareholders
    1,456,309       37,901,089       0.04  

For the three months ended July 31, 2011, 270,000 share options and 160,000 warrants were excluded from the calculation of diluted earnings per share because the exercise price exceeded the average price of the Company’s common stock. For the three months ended July 31, 2010, 70,000 share options were excluded from the calculation of diluted earnings per share because the exercise price exceeded the average price of the Company’s common stock.

  
 
Income
   
Shares
   
Per Share
 
  
 
(Numerator)
   
(Denominator)
   
Amount
 
  
 
US$
         
US$
 
For the Nine months ended July 31, 2011:
                 
Net income
    20,549,196              
Basic EPS income available to common shareholders
    20,549,196       37,239,536       0.55  
Effect of dilutive securities:
                       
Share options
                       
Warrants
            510,051          
Diluted EPS income available to common shareholders
    20,549,196       37,749,587       0.54  
                         
For the Nine months ended July 31, 2010:
                       
Net income
    12,237,047                  
Basic EPS income available to common shareholders
    12,237,047       37,239,536       0.33  
Effect of dilutive securities:
                       
Share options
            21,416          
Warrants
    -       532,418          
Diluted EPS income available to common shareholders
    12,237,047       37,793,370       0.32  

For the nine months ended July 31, 2011, 270,000 share options and 160,000 warrants were excluded from the calculation of diluted earnings per share because the exercise price exceeded the average price of the Company’s common stock. For the nine months ended July 31, 2010, 70,000 share options and 160,000 warrants were excluded from the calculation of diluted earnings per share because the exercise price exceeded the average price of the Company’s common stock.