v3.19.1
Condensed Consolidated Statements of Operations and Other Comprehensive Income (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
REVENUES    
Total Revenues $ 10,833,058 $ 12,169,718
COST OF SALES    
Total Cost of Goods Sold 5,068,186 6,039,577
GROSS PROFIT 5,764,872 6,130,141
OPERATING EXPENSES    
General and administrative expenses 3,161,530 3,341,903
Research and development 349,058 403,220
Depreciation and amortization expense 116,223 128,717
Total Operating Expenses 3,626,811 3,873,840
INCOME FROM OPERATIONS 2,138,061 2,256,301
OTHER INCOME (EXPENSE)    
Gain on sale of fixed assets 16,930 64,831
Other income (expense) (551) (1,792)
Interest income 91,703 50,708
Total Other Income 108,082 113,747
INCOME BEFORE INCOME TAXES 2,246,143 2,370,048
INCOME TAX EXPENSE 577,525 493,820
NET INCOME 1,668,618 1,876,228
OTHER COMPREHENSIVE INCOME (LOSS)    
Foreign currency translation gain (loss) 149,415 (239,129)
Unrealized gains (losses) on investments 68,752 (33,235)
Total Other Comprehensive Income (Loss) 218,167 (272,364)
COMPREHENSIVE INCOME $ 1,886,785 $ 1,603,864
BASIC EARNINGS PER SHARE (dollars per share) $ 0.04 $ 0.04
FULLY DILUTED EARNINGS PER SHARE (dollars per share) $ 0.03 $ 0.04
BASIC WEIGHTED AVG NUMBER OF SHARES OUTSTANDING (shares) 47,437,424 48,670,305
FULLY DILUTED WEIGHTED AVG NUMBER OF SHARES OUTSTANDING (shares) 48,084,390 49,744,101
Product    
REVENUES    
Total Revenues $ 10,198,635 $ 11,454,615
COST OF SALES    
Total Cost of Goods Sold 4,570,988 5,557,710
Service    
REVENUES    
Total Revenues 634,423 715,103
COST OF SALES    
Total Cost of Goods Sold $ 497,198 $ 481,867

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