Quarterly report pursuant to Section 13 or 15(d)

Income and Comprehensive Income

 v2.3.0.11
Income and Comprehensive Income (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Revenue:        
Energy efficiency revenue $ 123,786,051 $ 100,827,659 $ 229,979,316 $ 175,715,228
Renewable energy revenue 41,695,892 40,526,848 81,922,396 71,267,865
Total Revenue 165,481,943 141,354,507 311,901,712 246,983,093
Direct expenses:        
Energy efficiency expenses 102,247,778 83,064,955 188,609,201 145,589,102
Renewable energy expenses 31,082,490 32,135,716 63,157,803 56,841,126
Total Direct Expenses 133,330,268 115,200,671 251,767,004 202,430,228
Gross profit 32,151,675 26,153,836 60,134,708 44,552,865
Operating expenses:        
Salaries and benefits 8,162,669 5,327,713 18,247,401 13,484,742
Project development costs 5,263,216 2,047,505 9,664,793 5,176,942
General, administrative and other 5,368,227 6,765,107 10,561,561 11,315,045
Total Operating Expenses 18,794,112 14,140,325 38,473,755 29,976,729
Operating income 13,357,563 12,013,511 21,660,953 14,576,136
Other expenses, net (Note 8) (988,569) (1,216,698) (1,889,006) (2,072,387)
Income before provision for income taxes 12,368,994 10,796,813 19,771,947 12,503,749
Income tax provision (3,536,866) (3,089,175) (5,651,534) (3,518,433)
Net income 8,832,128 7,707,638 14,120,413 8,985,316
Other comprehensive income (loss):        
Unrealized loss from interest rate hedge, net of tax (455,835) (1,231,352) (215,987) (1,551,580)
Foreign currency translation adjustment 134,364 (1,183,944) 889,762 (190,045)
Comprehensive income $ 8,510,657 $ 5,292,342 $ 14,794,188 $ 7,243,691
Net income per share attributable to common shareholders:        
Basic $ 0.21 $ 0.56 $ 0.34 $ 0.66
Diluted $ 0.19 $ 0.21 $ 0.31 $ 0.24
Weighted average common shares outstanding:        
Basic 42,367,242 13,742,472 41,847,646 13,513,649
Diluted 45,907,748 38,412,419 45,285,650 38,115,517