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 21 154,756 127,738 Cost of contract revenue 6 121,094 99,264 Gross proft 33,662 28,474 Expenses General and administrative expenses 6 17,104 11,563 Other expenses 6 145 41 Finance costs 6 1,331 556 18,580 12,160 Earnings before the following items 15,082 16,314 Share in net earnings of associate 6 — 225 Gain on long-term investments 6 — 209 Earnings before income taxes 15,082 16,748 Income taxes 15 Current 4,710 5,647 Deferred 12 (345) 4,722 5,302 Net earnings and comprehensive earnings attributable to shareholders 10,360 11,446 Earnings per share attributable to shareholders 1 4 Basic 0.31 0.35 Diluted 0.30 0.34 See accompanying notes to consolidated fnancial statements.