36 Orbit G arant 2012 annual rep O rt C ONSOLIDATED STATEMENT S OF EARNINGS AND COMPRE h ENSIVE E ARNINGS For the years ended June 30 2012 and 2011 June 30 June 30 2012 2011 in thousands of Canadian dollars except for earnings per share Notes note 22 Contract revenue 21 154756 127738 Cost of contract revenue 6 121094 99264 Gross proft 33662 28474 Expenses General and administrative expenses 6 17104 11563 Other expenses 6 145 41 Finance costs 6 1331 556 18580 12160 Earnings before the following items 15082 16314 Share in net earnings of associate 6 225 Gain on longterm investments 6 209 Earnings before income taxes 15082 16748 Income taxes 15 Current 4710 5647 Deferred 12 345 4722 5302 Net earnings and comprehensive earnings attributable to shareholders 10360 11446 Earnings per share attributable to shareholders 1 4 Basic 031 035 Diluted 030 034 See accompanying notes to consolidated fnancial statements