GLGI.. $0.288
The net income for the fiscal year ended May 31, 2012 is expected to be approximately $2,774,000 compared to a net loss of $(847,201) for the fiscal year ended May 31, 2011.
The net income to common shareholders for the fiscal year ended May 31, 2012 is expected to be approximately $2,385,000, or $0.09 per share, compared to a net loss of $(770,095), or $(0.03) per share, for the fiscal year ended May 31, 2011.
The net income for the fiscal year ended May 31, 2012, when compared to the net loss for the fiscal year ended May 31, 2011, is primarily related to an 18% increase in sales for fiscal year 2012 over fiscal year 2011 and the recognition of a tax benefit in fiscal year 2012 in the amount of $585,000 due to net operating loss carry-forwards from prior fiscal years.