|
Consolidated Balance Sheets (USD $)
|
Dec. 31, 2011
|
Dec. 31, 2010
|
| Current assets: |
|
|
| Cash and cash equivalents |
$ 47,007,309 |
$ 43,218,164 |
| Accounts receivable, net of allowance for doubtful accounts of $2,786,776 and $3,017,742 at December 31, 2010 and 2011, respectively |
89,191,456 |
60,316,454 |
| Income taxes receivable |
636,362 |
0 |
| Prepaid expenses |
4,634,612 |
8,063,892 |
| Other current assets |
164,286 |
396,613 |
| Total current assets |
141,634,025 |
111,995,123 |
| Property and equipment, net |
10,834,526 |
9,638,800 |
| Intangible assets: |
|
|
| Goodwill |
41,476,212 |
32,597,577 |
| Intangible assets, net of accumulated amortization of $4,098,246 and $6,563,870 at December 31, 2010 and 2011, respectively |
6,281,452 |
6,974,818 |
| Other assets |
271,871 |
341,863 |
| Total assets |
200,498,086 |
161,548,181 |
| Current liabilities: |
|
|
| Accounts payable |
59,949,927 |
40,097,083 |
| Current maturities of capital lease obligations |
175,166 |
274,282 |
| Due to seller-short term |
5,278,889 |
2,720,517 |
| Accrued expenses |
5,195,545 |
3,398,620 |
| Income tax payable |
0 |
125,111 |
| Deferred income taxes |
923,208 |
1,788,286 |
| Total current liabilities |
71,522,735 |
48,403,899 |
| Due to seller-long term |
7,573,392 |
7,073,102 |
| Deferred income taxes |
2,056,275 |
946,608 |
| Capital lease obligations, net of current maturities |
24,086 |
146,559 |
| Total liabilities |
81,176,488 |
56,570,168 |
| Stockholders' equity: |
|
|
| Common stock, par value $0.0001 per share, 100,000,000 shares authorized, 22,043,850 and 22,155,857 shares were issued and outstanding at December 31, 2010 and December 31, 2011, respectively |
2,216 |
2,205 |
| Additional paid-in capital |
93,447,472 |
91,152,070 |
| Retained earnings |
25,871,910 |
13,823,738 |
| Total stockholders' equity |
119,321,598 |
104,978,013 |
| Total liabilities and stockholders' equity |
$ 200,498,086 |
$ 161,548,181 |