Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations and Other Comprehensive Income (Unaudited)

v3.19.2
Condensed Consolidated Statements of Operations and Other Comprehensive Income (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
REVENUES        
Total Revenues $ 10,124,031 $ 11,339,761 $ 20,957,089 $ 23,509,478
COST OF SALES        
Total Cost of Goods Sold 4,936,993 5,431,094 10,005,179 11,470,671
GROSS PROFIT 5,187,038 5,908,667 10,951,910 12,038,807
OPERATING EXPENSES        
General and administrative expenses 3,566,698 3,364,826 6,728,228 6,706,726
Research and development 512,871 317,002 861,929 720,221
Depreciation and amortization expense 110,910 129,070 227,133 257,787
Total Operating Expenses 4,190,479 3,810,898 7,817,290 7,684,734
INCOME FROM OPERATIONS 996,559 2,097,769 3,134,620 4,354,073
OTHER INCOME (EXPENSE)        
Gain on sale of fixed assets 21,410 21,254 38,340 86,085
Other expense (413) (4,164) (964) (5,956)
Interest income 85,887 174,771 177,590 225,479
Total Other Income 106,884 191,861 214,966 305,608
INCOME BEFORE INCOME TAXES 1,103,443 2,289,630 3,349,586 4,659,681
INCOME TAX EXPENSE 117,939 575,363 695,464 1,069,183
NET INCOME 985,504 1,714,267 2,654,122 3,590,498
OTHER COMPREHENSIVE INCOME (LOSS)        
Foreign currency translation gain (loss) 102,435 (427,307) 251,850 (394,072)
Unrealized gains (losses) on investments 49,495 9,226 118,247 (24,009)
Total Other Comprehensive Income (Loss) 151,930 (418,081) 370,097 (418,081)
COMPREHENSIVE INCOME $ 1,137,434 $ 1,296,186 $ 3,024,219 $ 3,172,417
BASIC EARNINGS PER SHARE (dollars per share) $ 0.02 $ 0.04 $ 0.06 $ 0.07
FULLY DILUTED EARNINGS PER SHARE (dollars per share) $ 0.02 $ 0.03 $ 0.06 $ 0.07
BASIC WEIGHTED AVG NUMBER OF SHARES OUTSTANDING (shares) 47,348,137 48,266,199 47,392,534 48,467,136
FULLY DILUTED WEIGHTED AVG NUMBER OF SHARES OUTSTANDING (shares) 48,124,208 49,095,575 48,192,849 49,237,938
Product        
REVENUES        
Total Revenues $ 9,559,255 $ 10,724,409 $ 19,757,890 $ 22,179,024
COST OF SALES        
Total Cost of Goods Sold 4,568,666 4,959,539 9,139,654 10,517,249
Service        
REVENUES        
Total Revenues 564,776 615,352 1,199,199 1,330,454
COST OF SALES        
Total Cost of Goods Sold $ 368,327 $ 471,555 $ 865,525 $ 953,422