Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share (Tables)

v2.4.0.6
Earnings Per Share (Tables)
9 Months Ended
Aug. 31, 2012
Earnings Per Share [Abstract]  
Computation of basic and diluted earnings per share

The following table sets forth the computation of basic and diluted earnings per share:

 

                                 
   

For the Three Month

Periods Ended

   

For the Nine Month

Periods Ended

 

Description

  August 31,
2012
    August 31,
2011
    August 31,
2012
    August 31,
2011
 

Net income

  $ 4,988,508     $ 590,639     $ 12,712,309     $ 4,486,921  

Basic and diluted weighted average shares (1)

    9,182,699       9,164,865       9,180,776       9,156,171  

Basic and diluted earnings per share

  $ 0.54     $ 0.06     $ 1.38     $ 0.49  

 

(1) Warrants to purchase shares of common stock were outstanding during the periods reflected in the table above, but were not included in the computation of diluted earnings per share because the warrants’ exercise price was greater than the average market value of the common shares and, therefore, the effect would be anti-dilutive.