SEN YU INTERNATIONAL HOLDINGS, INC.

CIK:0000724915|SEC Filings

Basic and Diluted Earnings Per Share

3 Months Ended

Mar. 31, 2012

14. Basic and Diluted Earnings Per Share

The following table sets forth the computation of basic and diluted net income per share:

	For The Three Months Ended March 31,				For The Nine Months Ended March 31,
	2012		2011		2012		2011
	Unaudited		Unaudited		Unaudited		Unaudited
Basic:
Numerator:
Net income for basic calculation	$	2,327,808	$	55,696	$	33,952,097	$	17,307,759
Denominator:
Weighted average common shares		26,155,511		21,721,267		25,866,124		21,169,077
Denominator for basic calculation		26,155,511		21,721,267		25,866,124		21,169,077
Net income per share — basic	$	0.09	$	0.00	$	1.31	$	0.82

Diluted:
Numerator:
Net income for basic calculation		2,327,808		55,696		33,952,097		17,307,759
Effect of dilutive securities issued		-		-		-		144,293
Net income for diluted calculation		2,327,808		55,696		33,952,097		17,452,052
Denominator:
Denominator for basic calculation		26,155,511		21,721,267		25,866,124		21,169,077
Weighted average effect of dilutive securities;
Series B Preferred stock and warrants
and Series A Convertible Preferred Stock		2,155,593		2,583,170		2,155,593		3,438,653
Denominator for diluted calculation		28,311,104		24,304,437		28,021,717		24,607,730
Net income per share — diluted	$	0.08	$	0.00	$	1.21	$	0.71

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	9 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	Mar. 31, 2012	Mar. 31, 2011
Net Income	$ 34,060,504	$ 17,291,898
Depreciation and amortization	348,434	358,854
Bad debt adjustment	1,456,389	463,499
Consulting fees adjusted from deferred	1,470,855	351,258
Stock-based compensation	25,500
Loss on disposal of fixed assets	68	71,034
Loss on disposal of inventories	48,716	18,912
Provision for losses on inventories		(1,245)
Change in fair value of warrants	(1,894,411)	(4,054,792)
Accrued interest for redeemable stock	90,450
Changes in account receivable	(2,082,289)
Changes in inventories	(560,995)	(1,074,536)
Changes in advanced to suppliers	(28,657,889)	(9,112,574)
Changes in prepayments and other current assets	39,167	108,821
Changes in accounts payable and accrued expenses	411,118	(39,178)
Changes in contingent liabilities	130,948
Changes in deferred interest income	21,718	6,510
Changes in other current liabilities	802	6,498
Net Cash Provided by Operating Activities	4,909,085	4,394,959
Payment for purchase of equipment	(49,813)	(110,712)
Payment for construction in progress		(69,749)
Proceeds from sale of property and equipment	7,427	44,105
Net Cash Used in Investing Activities	(42,386)	(136,356)
Proceeds from discount on loans payable	(21,718)	(6,510)
Proceeds from issuance of stock		3,044,140
Repayments for loans from shareholders/officers	(70,147)	(19,863)
Proceeds the repayment of loans by shareholders/officers	39,568	714,335
Net Cash (Used in) Provided by Financing Activities	(52,297)	3,732,102
Net Increase in Cash and Equivalents	4,814,402	7,990,705
Effect of Exchange Rate Changes on Cash	(30,317)	142,342
Cash and Equivalents at Beginning of Period	11,440,584	5,825,842
Cash and Equivalents at End of Period	16,224,669	13,958,889
Interest paid		223,522
Income taxes paid
Inventory transferred out to be breeding stock in fixed assets	6,530	132,849
Construction in progress transferred out to be fixed assets	213	84,292
Issued shares for consulting service		1,461,543
Offset debt by fixed assets		$ 6,748

CONSOLIDATED BALANCE SHEETS (USD $)	Mar. 31, 2012	Jun. 30, 2011
Cash and equivalents	$ 16,224,669	$ 11,440,584
Account receivable	2,082,289
Inventories	2,105,179	1,544,675
Advance to suppliers, net	82,844,885	53,473,785
Prepayments and other current assets	33,880	72,169
Total Current Assets	103,290,902	66,531,213
Property, Plant, Equipment and Breeding Stock, net	1,546,289	1,816,987
Construction in Progress		213
Total Long-Term Assets	1,546,289	1,817,200
Total Assets	104,837,191	68,348,413
Accounts payable and accrued expenses	889,200	455,044
Loans payable, net	1,136,237	1,128,517
Loans from shareholders/officers, net	765,513	794,354
Deferred interest income	55,001	31,858
Performance bond	1,111,822	1,083,016
Other current liabilities	10,236	9,169
Contingent liabilities	130,948
Derivative liabilities-warrants	1,898,902	3,793,314
Total Current Liabilities	5,997,859	7,295,272
Redeemable shares of common stock,804,000 shares issued and outstanding, respectively	1,307,505	1,217,055
Total Liabilities	7,305,364	8,512,327
Series B Convertible Preferred Stock ,$0.001 par value, 10,000,000 shares authorized,1,285,805 and 1,988,429 shares issued and outstanding, respectively	1,286	1,988
Common stock, $0.001 par value, 300,000,000 shares authorized, 26,155,511 and 25,263,113 issued and outstanding, respectively	26,156	25,263
Additional paid-in capital	11,598,742	11,573,432
Reserve funds	9,394,071	6,745,351
Retained earnings	72,069,932	40,766,555
Accumulated other comprehensive income	5,532,752	3,393,871
Unearned compensation	(1,485,286)	(2,956,141)
Total Sen Yu International Holdings, Inc. Shareholders' Equity	97,137,653	59,550,319
Noncontrolling Interest	394,174	285,767
Total Equity	97,531,827	59,836,086
Total Liabilities and Equity	$ 104,837,191	$ 68,348,413