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.