LNDT.. $5.09 YE Earnings..
For the year ended March 31,
2010 2009
NET REVENUE
Sales and installation of equipment $ 71,152,658 $ 25,952,152
Sales of software 6,433,064 4,791,901
Services 133,758 521,232
77,719,480 31,265,285
Cost of revenue
Cost of equipment sold (58,540,656 ) (21,206,730 )
Amortization of intangibles (597,449 ) (198,049 )
(59,138,105 ) (21,404,779 )
Gross profit 18,581,375 9,860,506
Operating expenses:
Selling (1,673,019 ) (1,228,481 )
General and administrative (1,304,006 ) (1,177,820 )
Research and development (91,401 ) (42,158 )
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For the year ended March 31,
2010 2009
Total operating expenses (3,068,426 ) (2,448,459 )
Income from operations 15,512,949 7,412,047
Other income (expenses), net
Interest income 48,864 48,390
Interest and bank charges (519,969 ) (366,232 )
Merger expenses (275,000 ) -
Exchange gains (losses), net (293,993 ) 37,695
Value added tax refund 465,786 -
Other 100,157 (3,196 )
Total other expenses, net (474,155 ) (283,343 )
Income before income tax 15,038,794 7,128,704
Income tax expense (816 ) (41,720 )
NET INCOME 15,037,978 7,086,984
Preferred stock dividend (184,820 ) -
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS $ 14,853,158 $ 7,086,984
COMPREHENSIVE INCOME:
Net income 15,037,978 7,086,984
Other comprehensive income:
Foreign currency translation adjustment 9,469 43,119
Comprehensive income 15,047,447 7,130,103
EARNINGS PER SHARE:
Basic $ 0.54 $ 0.26
Diluted $ 0.53 $ 0.26
Weighted average number of shares outstanding:
Basic 27,541,181 27,354,480
Diluted 28,230,337 27,354,480
Net Revenue:
Net revenue represents our gross revenue net of business tax, value added tax and related surcharges as well as discounts and returns. There were no material discounts and returns for the years ended March 31, 2010
