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v2.4.0.6
Earnings Per Share
9 Months Ended
Mar. 31, 2012
Earnings Per Share [Abstract]  
Earnings Per Share

NOTE 13 – EARNINGS PER SHARE

 

Basic earnings per share are computed on the basis of the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per share is computed on the basis of the weighted-average number of shares of common stock plus the effect of dilutive potential common shares outstanding during the period. The following table sets forth the computation of basic and diluted earnings per share:

 

   For The Three Months Ended   For The Nine Months Ended 
   March 31,   March 31, 
   2012   2011   2012   2011 
                 
Net income attributable to the common stockholders  $1,218,669   $3,468,209   $8,772,944   $9,813,858 
                     
Basic weighted-average common shares outstanding   40,345,780    40,727,935    40,531,461    40,719,653 
Dilutive effect of options, warrants, and contingently issuable shares                    
Diluted weighted-average common shares outstanding   40,345,780    40,727,935    40,531,461    40,719,653 
                     
Earnings per share:                    
Basic  $0.03   $0.09   $0.22   $0.24 
Diluted  $0.03   $0.09   $0.22   $0.24 

 

Warrants and options to purchase 685,000, and 105,000 shares of common stock, respectively were outstanding during the three and nine months ended March 31, 2012, but were excluded from the computation of diluted earnings per share as their effect would have been anti-dilutive because the exercise prices of the options are larger than the average share price during the period.