Large Earnings Miss Expected for 1Q 2011
I think you actually used a 40% tax rate in your calculation above, not a 25% tax rate.
$5,998,606*.6=$3,599,164
You should also note that on the conference call they said they were expecting expenses to increase about 15% in Q1 compared to 2010 Q4, so there should be $4,732,980 in net earnings before tax using your revenue number. So, even using the 25% tax rate, there should be $0.15 EPS in Q1. If you use the 40% rate, that drops down to $0.12.