EARNINGS PER SHARE

12 Months Ended

Oct. 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 year ended Octorber 31, 2011:
Net income		25,919,085
Basic EPS income available to common shareholders		25,919,085		37,239,536		0.70
Effect of dilutive securities:
Share options
Warrants				438,989
Diluted EPS income available to common shareholders		25,919,085		37,678,525		0.69
For the year ended Octorber 31, 2010:
Net income		17,868,942
Basic EPS income available to common shareholders		17,868,942		37,239,536		0.48
Effect of dilutive securities:
Share options
Warrants				538,492
Diluted EPS income available to common shareholders		17,868,942		37,778,028		0.47

For the year ended October 31, 2011, warrants of 160,000 shares and option of 234,998 shares were excluded from calculation of diluted earnings, because the exercise prices exceeded the average price of the Company’s common stock

For the year ended October 31, 2010, warrants of 160,000 shares and option of 70,000 shares were excluded from calculation of diluted earnings, because the exercise prices exceeded the average price of the Company’s common stock.