Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations (Unaudited)

v2.3.0.15
Condensed Consolidated Statements of Operations (Unaudited) (USD $)
3 Months Ended 6 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
REVENUES        
Sales of goods, net $ 4,275,276 $ 1,925,420 $ 6,683,556 $ 2,561,811
Sales of services, net 247,245 211,602 522,689 346,835
Total Revenues 4,522,521 2,137,022 7,206,245 2,908,646
COST OF SALES        
Cost of goods sold 1,597,356 632,922 2,373,425 755,498
Cost of goods sold - services 178,299 60,532 384,943 267,176
Total Cost of Sales 1,775,655 693,454 2,758,368 1,022,674
GROSS PROFIT 2,746,866 1,443,568 4,447,877 1,885,972
OPERATING EXPENSES        
General and administrative expenses 702,104 287,305 985,787 647,944
Payroll expenses 349,905 236,055 655,220 413,988
Depreciation expense 43,152 20,592 86,714 39,464
Total Operating Expenses 1,095,161 543,952 1,727,721 1,101,396
INCOME FROM OPERATIONS 1,651,705 899,616 2,720,156 784,576
OTHER INCOME (EXPENSE)        
Interest expense (5,179) (8,138) (8,796) (10,762)
Rental income 0 0 3,600 0
Interest income 49 2,615 325 3,433
Total Other Income (Expense) (5,130) (5,523) (4,871) (7,329)
NET INCOME BEFORE INCOME TAXES 1,646,575 894,093 2,715,285 777,247
INCOME TAX EXPENSE 460,917 311,797 755,049 286,377
NET INCOME 1,185,658 582,296 1,960,236 490,870
UNREALIZED HOLDING GAIN (LOSS) ON AVAILABLE FOR SALE SECURITIES (2,823) 1,920 (2,400) (554)
FOREIGN CURRENCY TRANSLATION GAIN (LOSS) (404,083) 59,033 (443,816) (32,307)
TOTAL COMPREHENSIVE INCOME $ 778,752 $ 643,249 $ 1,514,020 $ 458,009
BASIC EARNINGS PER SHARE $ 0.03 $ 0.01 $ 0.04 $ 0.01
FULLY DILUTED EARNINGS PER SHARE $ 0.03 $ 0.01 $ 0.04 $ 0.01
BASIC WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING 45,000,000 45,000,000 45,000,000 45,000,000
FULLY DILUTED WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING 45,173,247 45,122,667 45,173,247 45,122,667