Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Income

v2.4.0.6
Consolidated Statements of Income (USD $)
 12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Revenue:      
Energy efficiency revenue $ 448,983,992 $ 551,323,840 $ 455,329,696
Renewable energy revenue 182,186,573 176,876,478 162,896,963
Total revenue 631,170,565 728,200,318 618,226,659
Direct expenses:      
Energy efficiency expenses 354,855,706 446,962,891 378,084,610
Renewable energy expenses 148,167,582 146,191,280 129,439,629
Total direct expenses 503,023,288 593,154,171 507,524,239
Gross profit 128,147,277 135,046,147 110,702,420
Operating expenses:      
Salaries and benefits 51,279,963 40,746,280 30,721,486
Project development costs 16,625,103 18,281,729 13,676,795
General, administrative and other 30,568,884 25,332,314 20,311,842
Goodwill impairment 1,016,325 0 0
Total operating expenses 99,490,275 84,360,323 64,710,123
Operating income 28,657,002 50,685,824 45,992,297
Other expenses, net (Note 17) 4,050,116 6,505,719 6,292,996
Income before provision for income taxes 24,606,886 44,180,105 39,699,301
Income tax provision 6,246,753 10,767,172 12,185,635
Net income $ 18,360,133 $ 33,412,933 $ 27,513,666
Net income per share attributable to common shareholders:      
Basic (in usd per share) $ 0.41 $ 0.78 $ 1.07
Diluted (in usd per share) $ 0.40 $ 0.75 $ 0.66
Weighted average common shares outstanding:      
Basic (in shares) 44,649,275 42,587,818 25,728,314
Diluted (in shares) 45,995,463 44,707,132 41,513,482