Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

 v2.3.0.11
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Revenues $ 14,295,826 $ 18,903,860 $ 27,598,467 $ 40,054,254
Cost of revenues, exclusive of amortization of intangibles 10,747,967 13,283,807 21,272,536 28,610,458
Research and development expenses 462,413 764,016 1,012,853 1,578,497
Selling and marketing expenses 1,459,469 1,436,635 2,832,267 2,597,294
General and administrative expenses 2,959,382 2,918,322 5,949,622 5,871,919
Amortization of intangible assets and capitalized software 481,655 417,258 961,299 838,906
Total operating costs and expenses 16,110,886 18,820,038 32,028,577 39,497,074
Operating income (loss) (1,815,060) 83,822 (4,430,110) 557,180
Other income (expense) 18,199 37,758 (1,541) 61,218
Allowance for settlements, net   500,000   500,000
Financial expenses, net (133,956) (64,460) (1,687) (207,710)
Total other income (expenses) (115,757) 473,298 (3,228) 353,508
Income (loss) before income tax expenses (1,930,817) 557,120 (4,433,338) 910,688
Income tax expenses (140,622) (197,120) (281,246) (459,140)
Net income (loss) $ (2,071,439) $ 360,000 $ (4,714,584) $ 451,548
Basic net income (loss) per share (in Dollars per share) $ (0.15) $ 0.03 $ (0.34) $ 0.03
Diluted net income (loss) per share (in Dollars per share) $ (0.15) $ 0.02 $ (0.34) $ 0.03
Weighted average number of shares used in computing basic net income (loss) per share (in Shares) 13,855,164 14,013,658 13,796,680 13,944,492
Weighted average number of shares used in computing diluted net income (loss) per share (in Shares) 13,855,164 14,616,398 13,796,680 14,547,232