Nevada
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000-53401
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98-069745
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(State or other jurisdiction
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(Commission
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(IRS Employer
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of incorporation)
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File Number)
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Identification No.)
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¨
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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¨
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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¨
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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¨
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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(i)
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The Company’s audited consolidated financial statements for the fiscal year ended June 30, 2010 contained in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2010, originally filed with the Securities and Exchange Commission (“SEC”) on September 28, 2010;
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(ii)
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The Company’s unaudited financial statement for the three-month period ended September 30, 2010 contained in the Company’s Quarterly Reports on Form 10-Q, originally filed with the SEC on November 12, 2010;
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(iii)
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The Company’s unaudited financial statement for the three-month period and six-month period ended December 31, 2010 contained in the Company’s Quarterly Reports on Form 10-Q, originally filed with the SEC on February 14, 2011;
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(iv)
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The Company’s unaudited financial statement for the three-month period and nine-month period ended March 31, 2011 contained in the Company’s Quarterly Reports on Form 10-Q, originally filed with the SEC on May 16, 2011.
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For the year ended
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For the year ended
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June 30, 2010
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June 30, 2009
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As previously
reported
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As restated
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As previously
reported
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As restated
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|||||||||||||
Income before provision for income taxes
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$ | 12,461,481 | $ | 12,461,481 | $ | 9,854,885 | $ | 9,854,885 | ||||||||
Provision for income taxes
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(2,973,289 | ) | (3,404,509 | ) | (1,906,985 | ) | (2,337,479 | ) | ||||||||
Net income
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$ | 9,488,192 | $ | 9,056,972 | $ | 7,947,900 | $ | 7,517,406 | ||||||||
Comprehensive Income:
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||||||||||||||||
Net income
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$ | 9,488,192 | $ | 9,056,972 | $ | 7,947,900 | $ | 7,517,406 | ||||||||
Unrealized foreign currency translation gain (loss)
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135,653 | 127,477 | 106,233 | 99,503 | ||||||||||||
Comprehensive Income:
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$ | 9,623,845 | $ | 9,184,449 | $ | 8,054,133 | $ | 7,616,909 | ||||||||
Earnings per share – basic
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$ | 0.64 | $ | 0.62 | $ | 0.60 | $ | 0.57 | ||||||||
Earnings per share – diluted
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$ | 0.57 | $ | 0.55 | $ | 0.60 | $ | 0.57 |
As of June 30, 2010
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As of June 30, 2009
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As previously
reported
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As restated
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As previously
reported
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As restated
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Deferred tax liabilities
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$ | - | $ | 2,309,321 | $ | - | $ | 1,869,924 | ||||||||
Total liabilities
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14,432,532 | 16,741,852 | 10,344,546 | 12,214,470 | ||||||||||||
Accumulated other comprehensive income
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626,584 | 460,577 | 490,931 | 333,100 | ||||||||||||
Retained earning
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31,921,832 | 29,778,519 | 22,433,640 | 20,721,547 | ||||||||||||
Total shareholders’ equity
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$ | 50,084,354 | $ | 47,775,034 | $ | 33,934,383 | $ | 32,064,458 |
Year Ended
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Year Ended
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June 30, 2010
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June 30, 2009
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As previously
reported
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As restated
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As previously
reported
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As restated
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Net income
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$ | 9,488,192 | $ | 9,056,972 | $ | 7,947,900 | $ | 7,517,406 | ||||||||
Deferred tax liabilities
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- | 431,220 | - | 430,494 | ||||||||||||
Net cash provided by (used in) operating activities
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$ | 13,214,620 | $ | 13,214,620 | $ | (1,513,062 | ) | $ | (1,513,062 | ) |
For the three months ended
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For the nine months ended
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March 31, 2010
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March 31, 2010
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As previously
reported
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As restated
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As previously
reported
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As restated
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|||||||||||||
Income before provision for income taxes
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$ | 3,727,693 | $ | 3,727,693 | $ | 9,946,524 | $ | 9,946,524 | ||||||||
Provision for income taxes
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(585,135 | ) | (692,950 | ) | (2,193,931 | ) | (2,517,901 | ) | ||||||||
Net income
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$ | 3,142,558 | $ | 3,034,743 | $ | 7,752,593 | $ | 7,428,623 | ||||||||
Comprehensive Income:
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||||||||||||||||
Net income
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$ | 3,142,558 | $ | 3,034,743 | $ | 7,752,593 | $ | 7,428,623 | ||||||||
Unrealized foreign currency translation gain (loss)
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(157,384 | ) | (159,418 | ) | (108,823 | ) | (114,400 | ) | ||||||||
Comprehensive Income:
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$ | 2,985,174 | $ | 2,875,325 | $ | 7,643,770 | $ | 7,314,223 | ||||||||
Earnings per share – basic
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$ | 0.20 | $ | 0.19 | $ | 0.48 | $ | 0.46 | ||||||||
Earnings per share – diluted
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$ | 0.16 | $ | 0.16 | $ | 0.37 | $ | 0.35 |
For the three months ended
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For the nine months ended
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|||||||||||||||
March 31, 2009
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March 31, 2009
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As previously
reported
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As restated
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As previously
reported
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As restated
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|||||||||||||
Income before provision for income taxes
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$ | 2,528,403 | $ | 2,528,403 | $ | 7,437,907 | $ | 7,437,907 | ||||||||
Provision for income taxes
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(423,569 | ) | (531,193 | ) | (1,224,833 | ) | (1,547,704 | ) | ||||||||
Net income
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$ | 2,104,834 | $ | 1,997,210 | $ | 6,213,074 | $ | 5,890,203 | ||||||||
Comprehensive Income:
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||||||||||||||||
Net income
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$ | 2,104,834 | $ | 1,997,210 | $ | 6,213,074 | $ | 5,890,203 | ||||||||
Unrealized foreign currency translation gain (loss)
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(157,384 | ) | (159,067 | ) | (108,823 | ) | (113,871 | ) | ||||||||
Comprehensive Income:
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$ | 1,947,450 | $ | 1,838,144 | $ | 6,104,251 | $ | 5,776,333 | ||||||||
Earnings per share – basic
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$ | 0.16 | $ | 0.15 | $ | 0.47 | $ | 0.45 | ||||||||
Earnings per share – diluted
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$ | 0.16 | $ | 0.15 | $ | 0.47 | $ | 0.45 |
As of
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As of
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|||||||||||||||
March 31, 2010
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June 30, 2010
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As previously
reported
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As restated
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As previously
reported
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As restated
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|||||||||||||
Deferred tax liabilities
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$ | - | $ | 2,199,471 | $ | - | $ | 2,309,321 | ||||||||
Total liabilities
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13,999,091 | 16,198,562 | 14,432,532 | 16,741,853 | ||||||||||||
Accumulated other comprehensive income
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382,108 | 218,145 | 626,584 | 460,577 | ||||||||||||
Retained earning
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29,402,584 | 27,367,076 | 31,921,832 | 29,778,519 | ||||||||||||
Total shareholders’ equity
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$ | 48,164,745 | $ | 45,965,274 | $ | 50,084,354 | $ | 47,775,034 |
For the nine months ended
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|||||||||
March 31, 2009
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As previously
reported
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As restated
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Net income
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$ | 6,213,074 | $ | 5,890,203 | |||||
Deferred income tax provision
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- | 322,871 | |||||||
Net cash provided by operating activities
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$ | 818,523 | $ | 818,523 |
For the nine months ended
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|||||||||
March 31, 2010
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As previously
reported
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As restated
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||||||||
Net income
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$ | 7,752,593 | $ | 7,428,623 | |||||
Deferred income tax provision
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- | 323,970 | |||||||
Net cash provided by operating activities
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$ | 4,144,506 | $ | 4,144,506 |
For the three months ended
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|||||||||
September 30, 2010
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|||||||||
As previously
reported
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As restated
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||||||||
Comprehensive Income:
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|||||||||
Net income
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$ | 3,012,475 | 3,012,475 | ||||||
Unrealized foreign currency translation gain (loss)
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926,468 | 888,370 | |||||||
Comprehensive Income:
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$ | 3,938,943 | $ | 3,900,845 |
For the three months ended
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|||||||||
September 30, 2009
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|||||||||
As previously
reported
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As restated
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||||||||
Income before provision for income taxes
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$ | 2,477,715 | $ | 2,477,715 | |||||
Provision for income taxes
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(555,474 | ) | (663,529 | ) | |||||
Net income
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$ | 1,922,241 | $ | 1,814,186 | |||||
Comprehensive Income:
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|||||||||
Net income
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$ | 1,922,241 | $ | 1,814,186 | |||||
Unrealized foreign currency translation gain (loss)
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(47,583 | ) | (49,377 | ) | |||||
Comprehensive Income:
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$ | 1,874,658 | $ | 1,764,809 | |||||
Earnings per share – basic
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$ | 0.15 | $ | 0.14 | |||||
Earnings per share – diluted
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$ | 0.15 | $ | 0.14 |
For the three months ended
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Year Ended
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|||||||||||||||
September 30, 2010
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June 30, 2010
|
|||||||||||||||
As previously
reported
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As restated
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As previously
reported
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As restated
|
|||||||||||||
Deferred tax liabilities
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$ | $ | 2,347,418 | $ | - | $ | 2,309,321 | |||||||||
Total liabilities
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16,433,680 | 18,781,098 | 14,432,532 | 16,741,852 | ||||||||||||
Accumulated other comprehensive income
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1,553,052 | 1,348,947 | 626,584 | 460,577 | ||||||||||||
Retained earnings
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34,934,307 | 32,790,994 | 31,921,832 | 29,778,519 | ||||||||||||
Total shareholders’ equity
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$ | 54,188,414 | $ | 51,840,997 | $ | 50,084,354 | $ | 47,775,034 |
For the three months ended
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|||||||||
September 30, 2009
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|||||||||
As previously
reported
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As restated
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Net income
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$ | 1,922,241 | $ | 1,814,186 | |||||
Deferred income tax provision
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- | 108,055 | |||||||
Net cash provided by operating activities
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$ | 2,640,537 | $ | 2,640,537 |
For the three months ended
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For the six months ended
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|||||||||||||||
December 31, 2009
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December 31, 2009
|
|||||||||||||||
As previously
reported
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As restated
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As previously
reported
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As restated
|
|||||||||||||
Income before provision for income taxes
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$ | 4,335,429 | $ | 4,335,429 | $ | 6,692,616 | $ | 6,692,616 | ||||||||
Provision for income taxes
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(1,057,890 | ) | (1,165,990 | ) | (1,613,261 | ) | (1,829,416 | ) | ||||||||
Net income
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$ | 3,277,539 | $ | 3,169,439 | $ | 5,079,355 | $ | 4,863,200 | ||||||||
Comprehensive Income:
|
||||||||||||||||
Net income
|
$ | 3,277,539 | $ | 3,169,439 | $ | 5,079,355 | $ | 4,863,200 | ||||||||
Unrealized foreign currency translation gain (loss)
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978 | (771 | ) | 48,561 | 45,018 | |||||||||||
Comprehensive Income:
|
$ | 3,278,517 | $ | 3,168,668 | $ | 5,127,916 | $ | 4,908,218 | ||||||||
Earnings per share – basic
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$ | 0.25 | $ | 0.24 | $ | 0.39 | $ | 0.37 | ||||||||
Earnings per share – diluted
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$ | 0.25 | $ | 0.24 | $ | 0.39 | $ | 0.37 |
For the three months ended
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For the six months ended
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|||||||||||||||
December 31, 2010
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December 31, 2010
|
|||||||||||||||
As previously
reported
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As restated
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As previously
reported
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As restated
|
|||||||||||||
Comprehensive Income:
|
||||||||||||||||
Net income
|
$ | 6,540,895 | 6,540,895 | $ | 9,553,370 | 9,553,370 | ||||||||||
Unrealized foreign currency translation gain (loss)
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803,074 | 772,435 | 1,729,542 | 1,660,804 | ||||||||||||
Comprehensive Income:
|
$ | 7,343,969 | $ | 7,313,330 | $ | 11,282,912 | $ | 11,214,174 |
As of
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As of
|
|||||||||||||||
December 31, 2010
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June 30, 2010
|
|||||||||||||||
As previously
reported
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As restated
|
As previously
reported
|
As restated
|
|||||||||||||
Deferred tax liabilities
|
$ | $ | 2,378,058 | $ | - | $ | 2,309,321 | |||||||||
Total liabilities
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17,187,259 | 19,565,317 | 14,432,532 | 16,741,852 | ||||||||||||
Accumulated other comprehensive income
|
2,356,126 | 2,121,381 | 626,584 | 460,577 | ||||||||||||
Retained earnings
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41,475,202 | 39,331,889 | 31,921,832 | 29,778,519 | ||||||||||||
Total shareholders’ equity
|
$ | 62,323,011 | $ | 59,944,953 | $ | 50,084,354 | $ | 47,775,034 |
For the six months ended
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|||||||||
December 31, 2009
|
|||||||||
As previously
reported
|
As restated
|
||||||||
Net income
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$ | 5,079,355 | $ | 4,863,200 | |||||
Deferred income tax provision
|
- | 216,155 | |||||||
Net cash provided by operating activities
|
$ | 6,648,287 | $ | 6,648,287 |
For the three months ended
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For the nine months ended
|
|||||||||||||||
March 31, 2010
|
March 31, 2010
|
|||||||||||||||
As previously
reported
|
As restated
|
As previously
reported
|
As restated
|
|||||||||||||
Income before provision for income taxes
|
$ | 3,727,693 | $ | 3,727,693 | $ | 9,946,524 | $ | 9,946,524 | ||||||||
Provision for income taxes
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(585,135 | ) | (692,950 | ) | (2,193,931 | ) | (2,517,901 | ) | ||||||||
Net income
|
$ | 3,142,558 | $ | 3,034,743 | $ | 7,752,593 | $ | 7,428,623 | ||||||||
Comprehensive Income:
|
||||||||||||||||
Net income
|
$ | 3,142,558 | $ | 3,034,743 | $ | 7,752,593 | $ | 7,428,623 | ||||||||
Unrealized foreign currency translation gain (loss)
|
(157,384 | ) | (159,418 | ) | (108,823 | ) | (114,400 | ) | ||||||||
Comprehensive Income:
|
$ | 2,985,174 | $ | 2,875,325 | $ | 7,643,770 | $ | 7,314,223 | ||||||||
Earnings per share – basic
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$ | 0.20 | $ | 0.19 | $ | 0.48 | $ | 0.46 | ||||||||
Earnings per share – diluted
|
$ | 0.16 | $ | 0.16 | $ | 0.37 | $ | 0.35 |
For the three months ended
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For the nine months ended
|
|||||||||||||||
March 31, 2011
|
March 31, 2011
|
|||||||||||||||
As previously
reported
|
As restated
|
As previously
reported
|
As restated
|
|||||||||||||
Comprehensive Income:
|
||||||||||||||||
Net income
|
$ | 2,685,346 | $ | 2,685,346 | $ | 12,238,716 | $ | 12,238,716 | ||||||||
Unrealized foreign currency translation gain (loss)
|
415,307 | 400,224 | 2,144,849 | 2,061,028 | ||||||||||||
Comprehensive Income:
|
$ | 3,100,653 | $ | 3,085,570 | $ | 14,383,565 | $ | 14,299,744 |
As of March 31, 2011
|
As of June 30, 2010
|
|||||||||||||||
As previously
reported
|
As restated
|
As previously
reported
|
As restated
|
|||||||||||||
Deferred tax liabilities
|
$ | - | $ | 2,393,151 | $ | - | $ | 2,309,321 | ||||||||
Total liabilities
|
10,978,652 | 13,371,803 | 14,432,532 | 16,741,852 | ||||||||||||
Accumulated other comprehensive income
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2,771,443 | 2,521,605 | 626,584 | 460,577 | ||||||||||||
Retained earnings
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44,160,548 | 42,017,235 | 31,921,832 | 29,778,519 | ||||||||||||
Total shareholders’ equity
|
$ | 67,472,050 | $ | 65,078,899 | $ | 50,084,354 | $ | 47,775,034 |
For the nine months ended
|
|||||||||
March 31, 2010
|
|||||||||
As previously
reported
|
As restated
|
||||||||
Net income
|
$ | 7,752,593 | $ | 7,428,623 | |||||
Deferred income tax provision
|
- | 323,970 | |||||||
Net cash provided by operating activities
|
$ | 4,144,506 | $ | 4,144,506 |
September 14, 2011
|
Bohai Pharmaceuticals Group, Inc.
|
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By:
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/s/ Gene Hsiao
|
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Name: Gene Hsiao
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Title: Chief Financial Officer
|