Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations and Comprehensive Income

v2.4.0.6
Consolidated Statements of Operations and Comprehensive Income (USD $)
12 Months Ended
Mar. 31, 2012
Mar. 31, 2011
REVENUES    
Sales of goods, net $ 14,875,652 $ 7,186,734
Sales of services, net 1,049,561 847,192
Total Revenues 15,925,213 8,033,926
COST OF SALES    
Cost of goods sold 6,170,073 2,812,323
Cost of goods sold - services 717,796 529,821
Total Cost of Goods Sold 6,887,869 3,342,144
GROSS PROFIT 9,037,344 4,691,782
OPERATING EXPENSES    
General and administrative expenses 2,752,451 1,307,580
Payroll expenses 1,757,855 969,966
Depreciation expense 159,421 73,017
Total Operating Expenses 4,669,727 2,350,563
INCOME FROM OPERATIONS 4,367,617 2,341,219
OTHER INCOME (EXPENSE)    
Interest expense (20,370) (32,272)
Rental income 3,600 0
Interest income 375 3,727
Total Other Income (Expense) (16,395) (28,545)
NET INCOME BEFORE INCOME TAXES 4,351,222 2,312,674
INCOME TAX EXPENSE 1,163,451 686,211
NET INCOME 3,187,771 1,626,463
UNREALIZED HOLDING GAIN (LOSS) ON AVAILABLE FOR SALE SECURITIES (2,445) (4,080)
FOREIGN CURRENCY TRANSLATION GAIN (LOSS) (147,061) 365,863
TOTAL COMPREHENSIVE INCOME $ 3,038,265 $ 1,988,246
BASIC EARNINGS PER SHARE $ 0.07 $ 0.04
FULLY DILUTED EARNINGS PER SHARE $ 0.07 $ 0.04
BASIC WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING 45,000,000 45,000,000
FULLY DILUTED WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING 45,218,238 45,229,413