Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Income

v2.4.0.6
Consolidated Statements of Income (USD $)
 3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Revenue:        
Energy efficiency revenue $ 108,418,955 $ 188,718,434 $ 341,620,742 $ 418,697,750
Renewable energy revenue 55,487,250 39,085,134 132,958,737 121,007,530
Total revenue 163,906,205 227,803,568 474,579,479 539,705,280
Direct expenses:        
Energy efficiency expenses 87,898,560 155,890,159 275,391,607 344,499,360
Renewable energy expenses 41,205,349 32,058,319 104,003,905 95,216,122
Total direct expenses 129,103,909 187,948,478 379,395,512 439,715,482
Gross profit 34,802,296 39,855,090 95,183,967 99,989,798
Operating expenses:        
Salaries and benefits 12,441,502 10,984,929 38,369,446 29,232,330
Project development costs 4,288,657 5,174,930 12,335,875 14,839,723
General, administrative and other 7,362,802 7,286,542 22,085,897 17,848,103
Total operating expenses 24,092,961 23,446,401 72,791,218 61,920,156
Operating income 10,709,335 16,408,689 22,392,749 38,069,642
Other expenses, net (Note 9) (1,254,217) (1,359,913) (3,654,948) (3,248,919)
Income before provision for income taxes 9,455,118 15,048,776 18,737,801 34,820,723
Income tax provision (2,683,936) (2,690,196) (5,292,453) (8,341,730)
Net income $ 6,771,182 $ 12,358,580 $ 13,445,348 $ 26,478,993
Net income per share attributable to common shareholders:        
Basic (in usd per share) $ 0.15 $ 0.29 $ 0.30 $ 0.63
Diluted (in usd per share) $ 0.15 $ 0.27 $ 0.29 $ 0.58
Weighted average common shares outstanding:        
Basic (in shares) 44,788,160 43,116,861 44,492,509 42,275,367
Diluted (in shares) 46,247,239 46,308,032 46,010,138 45,377,104