Annual report pursuant to Section 13 and 15(d)

Income and Comprehensive Income

v2.4.0.6
Income and Comprehensive Income (USD $)
 12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Revenue:      
Energy efficiency revenue $ 551,323,840 $ 455,329,696 $ 340,635,122
Renewable energy revenue 176,876,478 162,896,963 87,881,467
Total Revenue 728,200,318 618,226,659 428,516,589
Direct expenses:      
Energy efficiency expenses 446,962,891 378,084,610 282,344,502
Renewable energy expenses 146,191,280 129,439,629 66,472,031
Total Direct Expenses 593,154,171 507,524,239 348,816,533
Gross profit 135,046,147 110,702,420 79,700,056
Operating expenses:      
Salaries and benefits 40,746,280 30,721,486 28,273,987
Project development costs 18,281,729 13,676,795 9,599,862
General, administrative and other 25,332,314 20,311,842 16,532,355
Total Operating Expenses 84,360,323 64,710,123 54,406,204
Operating income 50,685,824 45,992,297 25,293,852
Other expenses, net (Note 17) (5,192,132) (5,080,546) 1,562,910
Income before provision for income taxes 45,493,692 40,911,751 26,856,762
Income tax provision (10,767,172) (12,185,635) (6,949,614)
Net income 34,726,520 28,726,116 19,907,148
Other comprehensive income (loss):      
Unrealized loss from interest rate hedge, net of tax (4,448,989) (933,879) 0
Foreign currency translation adjustment (970,884) 1,653,430 3,530,723
Comprehensive income $ 29,306,647 $ 29,445,667 $ 23,437,871
Net income per share attributable to common shareholders:      
Basic $ 0.82 $ 1.12 $ 1.99
Diluted $ 0.78 $ 0.69 $ 0.61
Weighted average common shares outstanding:      
Basic 42,587,818 25,728,314 9,991,912
Diluted 44,707,132 41,513,482 32,705,617