Highlights for the Fiscal 2013
- Total revenues for the fiscal 2013 were approximately $67.8 million, an increase of approximately 260% from approximately $18.9 million in fiscal 2012.
- The Company adopted Percentage of Completion method to recognize real estate sales from long term real estate development projects, total revenue recognized from percentage of completion method was approximately $27.5 million, which accounted for 40.6% of total revenue in fiscal 2013.
- Net income for the fiscal 2013 totaled approximately $20.8 million, an increase of approximately 300% from the net income of approximately $5.2 million in fiscal 2012.
- Basic and diluted net earnings per share (“EPS”) attributable to shareholders for the fiscal 2013 were $0.46, compared to $0.11 for the fiscal 2012.