10-Q/A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q/A
(Amendment No. 1)

(Mark One)
x	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended: June 30, 2012
OR
¨	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from     to

Commission file number: 333-179245

EMPIRE RESOURCES, INC.

(Exact name of registrant as specified in its charter)

Delaware	22-3136782
(State or other jurisdiction of	(I.R.S. Employer
incorporation or organization)	Identification No.)

One Parker Plaza

Fort Lee, New Jersey 07024
(Address of principal executive offices)
(Zip Code)

(201) 944-2200
(Registrant’s telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No ¨

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes x No ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer ¨	Accelerated filer ¨
Non-accelerated filer ¨	Smaller reporting company x
(Do not check if a smaller reporting company)

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ¨ No x

The number of shares of the registrant’s common stock, $0.01 par value, outstanding as of August 8, 2012: 8,549,654

EXPLANATORY NOTE

This Form Amendment No. 1 amends the Quarterly Report on Form 10-Q of Empire Resources, Inc. (the “Company”) for the quarterly period ended June 30, 2012 (the “Form 10-Q”), as filed with the Securities and Exchange Commission on August 14, 2012, for the sole purpose of furnishing the Interactive Data Files with detailed note tagging as Exhibit 101 in accordance with Rule 405 of Regulation S-T. Exhibit 101 provides the financial statements and related notes from the Form 10-Q formatted in XBRL (eXtensible Business Reporting Language).

No other changes have been made to the Form 10-Q other than furnishing Exhibit 101 with detailed note tagging. This Form 10-Q/A speaks as of the original filing date of the Form 10-Q, does not reflect events that may have occurred subsequent to the original filing date, and does not modify or update in any way disclosures made in the Form 10-Q.

Item 6. Exhibits

Exhibit No.	Description
3.1	Amended and Restated Certificate of Incorporation (Incorporated by reference to Exhibit 3.1 to the Company’s Registration Statement on Form S-1, No. 333- 179245, filed January 30, 2012)
3.2	Certificate of Amendment of Amended and Restated Certificate of Incorporation (Amendment No. 1) (Incorporated by reference to Exhibit 3.2 to the Company’s Registration Statement on Form S-1, No. 333-179245, filed January 30, 2012)
3.3	Certificate of Amendment of the Amended and Restated Certificate of Incorporation (Amendment No. 2) (Incorporated by reference to Exhibit 3.3 to the Company’s Registration Statement on Form S-1, No. 333-179245, filed January 30, 2012)
3.4	Amended and Restated By-Laws (Incorporated by reference to Exhibit 3.4 to the Company’s Registration Statement on Form S-1, No. 333-179245, filed January 30, 2012)
3.5	Amendment No. 1 to Amended and Restated By-Laws (Incorporated by reference to Exhibit 3.5 to the Company’s Registration Statement on Form S-1, No. 333-179245, filed January 30, 2012)
3.6	Amendment No. 2 to Amended and Restated By-Laws (Incorporated by reference to Exhibit 3.6 to the Company’s Registration Statement on Form S-1, No. 333-179245, filed January 30, 2012)
31.1*	Certification of Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2*	Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1*	Certification of Principal Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
32.2*	Certification of Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101**	The following materials from the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2012, formatted in XBRL (eXtensible Business Reporting Language), (i) Consolidated Balance Sheets, (ii) Consolidated Statements of Operations, (iii) Consolidated Statements of Changes in Equity (Capital Deficiency), (iv) Consolidated Statements of Cash Flows, and (v) the Notes to the Consolidated Financial Statements

* Previously filed with the Company’s Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2012, filed with the Securities and Exchange Commission on August 14, 2012.

***Furnished herewith. Pursuant to Rule 406T of Regulation S-T, the Interactive Data Files on Exhibit 101 hereto are deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, are deemed not filed for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, and otherwise are not subject to liability under those sections.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	EMPIRE RESOURCES, INC.
Date: April 29, 2013	By:	/s/ Nathan Kahn
		Name:	Nathan Kahn
		Title:	President and Chief Executive Officer
			(Principal Executive Officer)
	By:	/s/ Sandra Kahn
		Name:	Sandra Kahn
		Title:	Vice President and Chief Financial Officer
			(Principal Financial Officer)

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Earnings per Share (Details) (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Numerator:
Net income	$ 1,168	$ 1,055	$ 1,999	$ 2,633
Add back of interest on convertible subordinated debt, net of taxes	185	56	371	56
Add back of amortization of discount on convertible subordinated debt, net of taxes	87	27	175	27
Adjustment for change in value of convertible note derivative, net of taxes	(121)	(5)	30	(5)
Numerator for diluted earnings per share	$ 1,319	$ 1,133	$ 2,575	$ 2,711
Denominator:
Weighted average shares outstanding-basic (in shares)	9,230	9,259	9,205	9,259
Dilutive effect of stock options (in shares)	193	260	197	276
Dilutive effect of convertible subordinated debt (in shares)	2,694	766	2,694	385
Weighted average shares outstanding-diluted (in shares)	12,117	10,285	12,096	9,920
Basic Earnings per Share (in dollars per share)	$ 0.13	$ 0.11	$ 0.22	$ 0.28
Diluted Earnings per Share (in dollars per share)	$ 0.11	$ 0.11	$ 0.21	$ 0.27

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Business Segment and Geographic Area Information (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Other Revenue, Net	$ 145,692	$ 126,606	$ 291,301	$ 240,133
United States [Member]
Other Revenue, Net	105,607	87,799	205,325	167,440
Canada [Member]
Other Revenue, Net	12,809	16,259	28,655	30,938
Europe [Member]
Other Revenue, Net	4,571	8,248	9,376	17,237
Brazil [Member]
Other Revenue, Net	13,181	4,050	25,460	5,791
Australia and New Zealand [Member]
Other Revenue, Net	$ 9,524	$ 10,250	$ 22,485	$ 18,727

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Stock Options (Details Textual) In Thousands, unless otherwise specified	3 Months Ended
	Jun. 30, 2012
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	414
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period	2

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Business Segment and Geographic Area Information

6 Months Ended

Jun. 30, 2012

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

17. Business Segment and Geographic Area Information

The Company’s only business segment is the sale and distribution of metals.  Sales are attributed to countries based on location of customers.  Sales to domestic and foreign customers were as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2012		2011		2012		2011
United States	$	105,607	$	87,799	$	205,325	$	167,440
Canada		12,809		16,259		28,655		30,938
Europe		4,571		8,248		9,376		17,237
Brazil		13,181		4,050		25,460		5,791
Australia & New Zealand		9,524		10,250		22,485		18,727
	$	145,692	$	126,606	$	291,301	$	240,133

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Derivative Financial Instruments and Risk Management (Details 1) (Accrued Expenses and Derivative Liabilities [Member], USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
Accrued Expenses and Derivative Liabilities [Member]
Interest rate swap contracts	$ 138	$ 161

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Convertible Subordinated Debt (Details) (USD $) In Thousands, except Per Share data, unless otherwise specified	6 Months Ended	12 Months Ended
	Jun. 30, 2012	Dec. 31, 2011
Equity value	$ 25,698	$ 25,897
Volatility	70.00%	70.00%
Risk free return	0.57%	0.83%
Dividend Yield	3.34%	3.57%
Strike Price	$ 4.45	$ 4.57

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Commitments and Contingencies (Details Textual) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
Letters of Credit Outstanding, Amount	$ 34,269
Gain Contingency, Unrecorded Amount		$ 800

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The Company

6 Months Ended

Jun. 30, 2012

Accounting Policies [Abstract]

Nature of Operations [Text Block]

1. The Company

The condensed consolidated financial statements include the accounts of Empire Resources, Inc. (the “Company”) and its wholly-owned subsidiaries, Empire Resources Pacific Ltd., the Company’s sales agent in Australia, 6900 Quad Avenue LLC, the owner of a warehouse facility in Baltimore, Maryland and Imbali Metals BVBA (“Imbali”), the Company’s operating subsidiary in Europe.  All significant inter-company transactions and accounts have been eliminated on consolidation.  We purchase and sell semi-finished aluminum and steel products to a diverse customer base located in the Americas, Australia, Europe and New Zealand.

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Derivative Financial Instruments and Risk Management (Details 2) (USD $) In Thousands, unless otherwise specified	3 Months Ended				6 Months Ended
	Jun. 30, 2012		Jun. 30, 2011		Jun. 30, 2012		Jun. 30, 2011
Location of Gain or (Loss) Recognized	$ 2,335		$ (3,609)		$ 4,848		$ (4,935)
Foreign Exchange Forward [Member] | Cost Of Sales [Member]
Location of Gain or (Loss) Recognized	(252)	[1]	(291)	[1]	(609)	[1]	483	[1]
Interest Rate Swap [Member] | Interest Expense [Member]
Location of Gain or (Loss) Recognized	(17)	[2]	(19)	[2]	(34)	[2]	(38)	[2]
Aluminum Futures [Member] | Cost Of Sales [Member]
Location of Gain or (Loss) Recognized	$ 2,604	[3]	$ (3,299)	[3]	$ 5,491	[3]	$ (5,380)	[3]

[1] Fair value hedge: the related hedged item is accounts receivable and an offsetting gain in 2012 and gain/(loss) in 2011 is included in cost of goods sold in the same respective amounts.

[2] Cash flow hedge: recognized loss reclassified from accumulated other comprehensive loss.

[3] Fair value hedge: the related hedged item is inventory and offsetting losses in 2012 and gains in 2011 are included in cost of goods sold in the same respective amounts.

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Derivative Financial Instruments and Risk Management (Tables)

6 Months Ended

Jun. 30, 2012

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block]

The Company’s unrealized assets and liabilities in respect of its fair value hedges measured at fair value are as follows:

Derivatives designated		June 30,		December 31,
as fair value hedges	Balance Sheet Location	2012		2011
Asset derivatives:
Aluminum futures     contracts	Other current  assets		6,804	$	4,915
Total		$	6,804	$	4,915
Liability derivatives:
Foreign currency futures     contracts	Accrued expenses and derivative    liabilities	$	125	$	315
Total		$	125	$	315

Schedule Of Derivatives Designated As Fair Value Hedges [Table Text Block]

The swap has been designated as a cash flow hedge and the Company’s unrealized liabilities relating to it measured at fair value is as follows:

Derivatives designated		June 30,		December 31,
as cash flow hedges	Balance Sheet Location	2012		2011
Liability derivatives:
Interest rate swap     contracts	Accrued expenses and derivative    liabilities	$	138	$	161

Schedule Of Derivatives Designated As Cash Flow Hedges [Table Text Block]

The table below summarizes the realized gains or (losses) of the Company’s derivative instruments and their location in the income statement:

			Three Months Ended						Six Months Ended
Derivatives in hedging		Location of Gain or	June 30,						June 30
relationships		(Loss) Recognized	2012			2011			2012			2011
Foreign currency futures	(a)	Cost of Goods Sold	$	(252	)	$	(291	)	$	(609	)	$	483
Interest rate swaps	(b)	Interest Expense		(17	)		(19	)		(34	)		(38	)
Aluminum futures	(c)	Cost of Goods Sold		2,604			(3,299	)		5,491			(5,380	)
Total			$	2,335		$	(3,609	)	$	4,848		$	(4,935	)

(a) Fair value hedge: the related hedged item is accounts receivable and an offsetting gain in 2012 and gain/(loss) in 2011 is included in cost of goods sold in the same respective amounts.

(b) Cash flow hedge: recognized loss reclassified from accumulated other comprehensive loss.

(c) Fair value hedge: the related hedged item is inventory and offsetting losses in 2012 and gains in 2011 are included in cost of goods sold in the same respective amounts.

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Earnings per Share (Tables)

6 Months Ended

Jun. 30, 2012

Earnings Per Share [Abstract]

Schedule of Earnings Per Share Reconciliation [Table Text Block]

The following table sets forth the computation of basic and diluted earnings per share.

	Three Months Ended June 30,						Six Months Ended June 30,
	2012			2011			2012		2011
Numerator:
Net income	$	1,168		$	1,055		$	1,999	$	2,633
Add back of interest on convertible subordinated debt, net of taxes		185			56			371		56
Add back of amortization of discount on convertible subordinated debt, net of taxes		87			27			175		27
Adjustment for change in value of convertible note derivative, net of taxes		(121	)		(5	)		30		(5	)
Numerator for diluted earnings per share	$	1,319		$	1,133		$	2,575	$	2,711
Denominator:
Weighted average shares outstanding-basic		9,230			9,259			9,205		9,259
Dilutive effect of stock options		193			260			197		276
Dilutive effect of convertible subordinated debt		2,694			766			2,694		385
Weighted average shares outstanding-diluted		12,117			10,285			12,096		9,920
Basic Earnings per Share	$	0.13		$	0.11		$	0.22	$	0.28
Diluted Earnings per Share	$	0.11		$	0.11		$	0.21	$	0.27

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Fair Value (Details) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
Fair Value, Inputs, Level 1 [Member] | Inventories [Member]
Assets, Fair Value Disclosure	$ 149,190	$ 172,068
Fair Value, Inputs, Level 1 [Member] | Foreign Exchange Forward [Member]
Liabilities, Fair Value Disclosure	125	315
Fair Value, Inputs, Level 1 [Member] | Aluminum Futures [Member]
Assets, Fair Value Disclosure	6,804	4,915
Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap [Member]
Liabilities, Fair Value Disclosure	138	161
Fair Value, Inputs, Level 3 [Member] | Embedded Derivative Financial Instruments [Member]
Liabilities, Fair Value Disclosure	$ 1,983	$ 1,934

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Fair Value (Tables)

6 Months Ended

Jun. 30, 2012

Fair Value Disclosures [Abstract]

Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]

Major categories of assets and liabilities measured at fair value at June 30, 2012 and December 31, 2011 are classified as follows:

	June 30, 2012						December 31, 2011
	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3
Assets:
Inventories	$	149,190					$	172,068
Aluminum futures contracts		6,804						4,915
Liabilities:
Foreign currency futures    contracts		125						315
Interest rate swap contracts			$	138					$	161
Embedded conversion option					$	1,983					$	1,934

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Business Segment and Geographic Area Information (Tables)

6 Months Ended

Jun. 30, 2012

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment [Table Text Block]

The Company’s only business segment is the sale and distribution of metals.  Sales are attributed to countries based on location of customers.  Sales to domestic and foreign customers were as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2012		2011		2012		2011
United States	$	105,607	$	87,799	$	205,325	$	167,440
Canada		12,809		16,259		28,655		30,938
Europe		4,571		8,248		9,376		17,237
Brazil		13,181		4,050		25,460		5,791
Australia & New Zealand		9,524		10,250		22,485		18,727
	$	145,692	$	126,606	$	291,301	$	240,133

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Condensed Consolidated Statement of Stockholders' Equity [Parenthetical] (USD $) In Thousands, except Per Share data, unless otherwise specified	6 Months Ended
	Jun. 30, 2012
Deferred Tax Liabilities Net Of Tax	$ 9
Dividend Per Share	$ 0.05

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Concentrations (Details Textual)	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Sales Revenue, Goods, Net [Member] | Customer One [Member]
Concentration Risk, Percentage	11.00%	12.00%
Sales Revenue, Goods, Net [Member] | Customer Two [Member]
Concentration Risk, Percentage	10.00%	9.00%
Cost Of Goods, Total [Member]
Concentration Risk, Percentage	63.00%	38.00%

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Dividends (Details Textual) (USD $) In Thousands, except Per Share data, unless otherwise specified	1 Months Ended
	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011
Common Stock, Dividends, Per Share, Cash Paid	$ 0.025	$ 0.025
Dividends, Common Stock	$ 230
Dividends payable	$ 215		$ 231

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Condensed Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
ASSETS
Cash	$ 4,159	$ 4,274
Trade accounts receivable (less allowance for doubtful accounts of $519 and $527)	68,566	56,504
Inventories	156,528	184,113
Deferred tax assets	3,393	3,384
Advance to supplier, net of imputed interest of $161 and $0, respectively	1,505	0
Other current assets	12,247	11,053
Total current assets	246,398	259,328
Advance to supplier, net of imputed interest of $542 and $521, respectively, net of current maturities	7,792	4,479
Preferential supply agreement	962	521
Long-term financing costs, net of amortization	1,151	1,360
Property and equipment, net	4,001	4,040
Total assets	260,304	269,728
LIABILITIES AND STOCKHOLDERS' EQUITY
Notes payable - banks	157,679	154,424
Current maturities of mortgage payable	166	160
Trade accounts payable	35,146	50,054
Income taxes payable	5,068	4,060
Accrued expenses and derivative liabilities	5,529	4,089
Dividends payable	215	231
Total current liabilities	203,803	213,018
Mortgage payable, net of current maturities	1,377	1,461
Subordinated convertible debt net of unamortized discount of $2,216 and $2,499 respectively	9,784	9,501
Derivative liability for embedded conversion option	1,983	1,934
Deferred taxes payable	188	212
Total Liabilities	217,135	226,126
Commitments and Contingencies (Note 18)
Stockholders' equity:
Common stock $.01 par value, 20,000,000 shares authorized and 11,749,651 shares issued at June 30, 2012 and December 31, 2011	117	117
Additional paid-in capital	11,937	11,937
Retained earnings	36,825	35,271
Accumulated other comprehensive loss	(269)	(214)
Treasury stock 3,154,997 and 2,511,245 shares at June 30, 2012 and December 31, 2011	(5,441)	(3,509)
Total stockholders' equity	43,169	43,602
Total liabilities and stockholders' equity	$ 260,304	$ 269,728

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Fair Value of Financial Instruments (Details Textual) (USD $) In Millions, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
Debt Instrument, Fair Value Disclosure	$ 12	$ 12

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Condensed Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Cash flows from operating activities:
Net income	$ 1,999	$ 2,633
Adjustments to reconcile net income to net cash provided by/(used in) operating activities:
Depreciation and amortization	271	132
Change in value of derivative liability	49	0
Amortization of convertible note discount	283	0
Imputed interest on vendor advance	(259)	0
Provision for doubtful accounts	0	216
Deferred income taxes	(39)	(81)
Foreign exchange loss, and other	35	(362)
Changes in:
Trade accounts receivable	(12,148)	(14,633)
Inventories	27,423	(1,660)
Other current assets	(1,197)	(5,507)
Trade accounts payable	(14,905)	11,075
Income taxes payable	1,008	1,730
Accrued expenses and derivative liabilities	1,476	(12,750)
Net cash provided by/(used in) operating activities	3,996	(19,207)
Cash flows used in investing activities:
Advance related to supply agreement	(5,000)	(5,000)
Purchases of property and equipment	(20)	(29)
Net cash used in investing activities	(5,020)	(5,029)
Cash flows provided by financing activities:
Proceeds from subordinated convertible debt	0	12,000
Proceeds from notes payable - banks	3,398	16,330
Repayments - mortgage payable	(79)	(74)
Dividends paid	(461)	(231)
Deferred financing costs	(2)	(1,202)
Treasury stock purchased	(1,932)	0
Net cash provided by financing activities	924	26,823
Net (decrease)/increase in cash	(100)	2,587
Effect of exchange rate	(15)	25
Cash at beginning of year	4,274	1,270
Cash at end of the year	4,159	3,882
Supplemental disclosures of cash flow information:
Interest	2,697	955
Income taxes	2,221	2,402
Non cash financing activities:
Dividend declared but not yet paid	$ 215	$ 231

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Notes Payable-Banks (Details Textual)	6 Months Ended			1 Months Ended			6 Months Ended
	Jun. 30, 2012 USD ($)	Dec. 31, 2011 USD ($)	Apr. 28, 2011 USD ($)	Apr. 28, 2011 Refinancing Of Debt [Member] USD ($)	Jun. 30, 2012 Letter Of Credit [Member] USD ($)	Dec. 31, 2011 Letter Of Credit [Member] USD ($)	Jun. 30, 2012 Letter Of Credit [Member] Ing Belgium [Member] USD ($)	Jun. 30, 2012 Letter Of Credit [Member] Ing Belgium [Member] EUR (€)	Dec. 31, 2011 Letter Of Credit [Member] Ing Belgium [Member] USD ($)	Dec. 31, 2011 Letter Of Credit [Member] Ing Belgium [Member] EUR (€)
Line of Credit Facility, Maximum Borrowing Capacity			$ 200,000,000
Extinguishment of Debt, Amount				175,000,000
Line of Credit Facility, Increase, Additional Borrowings	50,000,000
Line of Credit Facility, Interest Rate at Period End	0.27%
Line of Credit Facility, Expiration Date	Jun. 30, 2014
Line of Credit Facility, Current Borrowing Capacity	185,769,000	179,791,000						8,000,000
Line of Credit Facility, Amount Outstanding					$ 34,269,000	$ 33,791,000	$ 6,179,000	€ 4,880,000	$ 8,424,000	€ 6,500,000
Debt Instrument, Basis Spread on Variable Rate							1.75%	1.75%
Debt Instrument, Interest Rate Terms							EURIBOR plus 1.75	EURIBOR plus 1.75

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Derivative Financial Instruments and Risk Management

6 Months Ended

Jun. 30, 2012

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments and Hedging Activities Disclosure [Text Block]

14. Derivative Financial Instruments and Risk Management

The Company uses derivative financial instruments designated as fair value hedges to manage its exposure to commodity price risk and foreign currency exchange risk inherent in its operations.  It is the Company’s policy to hedge such risks to the extent practicable.  The Company enters into high-grade aluminum futures contracts to limit its gross margin exposure by hedging the metal content element of firmly committed purchase and sales commitments. The Company also enters into foreign exchange forward contracts to hedge its exposure related to commitments to buy and sell metals denominated in international currencies.

The Company’s unrealized assets and liabilities in respect of its fair value hedges measured at fair value are as follows:

Derivatives designated		June 30,		December 31,
as fair value hedges	Balance Sheet Location	2012		2011
Asset derivatives:
Aluminum futures     contracts	Other current  assets		6,804	$	4,915
Total		$	6,804	$	4,915
Liability derivatives:
Foreign currency futures     contracts	Accrued expenses and derivative    liabilities	$	125	$	315
Total		$	125	$	315

For the periods ended June 30, 2012 and 2011, hedge ineffectiveness associated with derivatives designated as fair value hedges was insignificant, and no fair value hedges were derecognized.

The Company has entered into interest rate swaps to convert the mortgage for its Baltimore warehouse from a variable rate to a fixed rate obligation.  The swap has been designated as a cash flow hedge and the Company’s unrealized liabilities relating to it measured at fair value is as follows:

Derivatives designated		June 30,		December 31,
as cash flow hedges	Balance Sheet Location	2012		2011
Liability derivatives:
Interest rate swap     contracts	Accrued expenses and derivative    liabilities	$	138	$	161

A corresponding debit, net of deferred taxes, is reflected in accumulated other comprehensive loss in the accompanying balance sheet.

The table below summarizes the realized gains or (losses) of the Company’s derivative instruments and their location in the income statement:

			Three Months Ended						Six Months Ended
Derivatives in hedging		Location of Gain or	June 30,						June 30
relationships		(Loss) Recognized	2012			2011			2012			2011
Foreign currency futures	(a)	Cost of Goods Sold	$	(252	)	$	(291	)	$	(609	)	$	483
Interest rate swaps	(b)	Interest Expense		(17	)		(19	)		(34	)		(38	)
Aluminum futures	(c)	Cost of Goods Sold		2,604			(3,299	)		5,491			(5,380	)
Total			$	2,335		$	(3,609	)	$	4,848		$	(4,935	)

(a) Fair value hedge: the related hedged item is accounts receivable and an offsetting gain in 2012 and gain/(loss) in 2011 is included in cost of goods sold in the same respective amounts.

(b) Cash flow hedge: recognized loss reclassified from accumulated other comprehensive loss.

(c) Fair value hedge: the related hedged item is inventory and offsetting losses in 2012 and gains in 2011 are included in cost of goods sold in the same respective amounts.

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Mortgage Payable (Details Textual) (Mortgages [Member], USD $)	6 Months Ended
	Jun. 30, 2012	Dec. 31, 2011
Mortgages [Member]
Long-term Debt, Gross	$ 1,500,000	$ 1,600,000
Debt Instrument, Periodic Payment	$ 21,600
Debt Instrument, Basis Spread on Variable Rate	1.75%
Debt Instrument, Maturity Date	Dec. 31, 2014
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	6.37%

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Fair Value of Financial Instruments

6 Months Ended

Jun. 30, 2012

Investments, All Other Investments [Abstract]

Financial Instruments Disclosure [Text Block]

16. Fair Value of Financial Instruments

The carrying amounts of variable rate notes payable to the banks and the variable rate mortgage payable approximate fair value (level 2) as of June 30, 2012 and December 31, 2011, because these notes reflect market changes to interest rates.  The fair value (level 2) of the subordinated convertible debt approximates its principal amount of $12 million at June 30, 2012 and December 31, 2011 which exceeds its carrying amount as a result of the unamortized discount related to the bifurcation of the embedded conversion option. The fair value (level 2) of the advance to supplier approximates its carrying value. Derivative financial instruments are carried at fair value (see Note 14).

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Condensed Consolidated Statement of Stockholders' Equity (USD $) In Thousands	Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Treasury Stock [Member]	Total
Balance at Dec. 31, 2011	$ 117	$ 11,937	$ 35,271	$ (214)	$ (3,509)	$ 43,602
Balance (in shares) at Dec. 31, 2011	11,750
Treasury stock acquired					(1,932)	(1,932)
Net change in cumulative translation adjustment				(69)		(69)
Decrease in value of interest rate swap liability, net of deferred tax of $9				15		15
Decrease in value of marketable securities				(1)		(1)
Dividends declared and/or paid ($0.05 per share)			(445)			(445)
Net income			1,999			1,999
Balance at Jun. 30, 2012	$ 117	$ 11,937	$ 36,825	$ (269)	$ (5,441)	$ 43,169
Balance(in shares) at Jun. 30, 2012	11,750

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Condensed Consolidated Balance Sheets [Parenthetical] (USD $) In Thousands, except Share data, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
Allowance for doubtful accounts, trade accounts	$ 519	$ 527
Imputed interest, advance to supplier amortization amount	161	0
Imputed interest, advance to supplier amortization amount, current	542	521
Unamortized discount, subordinated convertible debt	$ 2,216	$ 2,499
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	20,000,000	20,000,000
Common stock, issued (in shares)	11,749,651	11,749,651
Treasury stock (in shares)	3,154,997	2,511,245

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Notes Payable-Banks

6 Months Ended

Jun. 30, 2012

Debt Disclosure [Abstract]

Long-term Debt [Text Block]

9. Notes Payable—Banks

On April 28, 2011, the Company entered into a working capital credit agreement with Rabobank International, for itself and as Lead Arranger and Agent, JPMorgan Chase, for itself and as Syndication Agent, and ABN AMRO, BNP Paribas, RBS Citizens, Société Générale, and Brown Brothers Harriman. The $200 million secured, asset-based credit facility matures on June 30, 2014 and refinanced the Company’s previous $175 million credit agreement which would have matured on June 30, 2011. The new credit agreement also allows additional increases in the line of credit of up to $50 million, subject to certain restrictions. Amounts borrowed bear interest (.27% at June 30, 2012) at Eurodollar, money market or base rates, at our option, plus an applicable margin.   Our borrowings under this line of credit are secured by substantially all of our assets. The credit agreement contains financial and other covenants including but not limited to, covenants requiring maintenance of minimum tangible net worth and compliance with leverage ratios, as well as an ownership minimum and limitations on other indebtedness, liens, and investments and dispositions of assets.   As of June 30, 2012, the Company was in compliance with the covenants.

The credit agreement provides that amounts under the facility may be borrowed and repaid, and re-borrowed, subject to a borrowing base test, until the maturity date of June 30, 2014.  As of June 30, 2012 and December 31, 2011, the credit utilized amounted to, respectively, $185,769 and $179,791 (including approximately $34,269 and $33,791 of outstanding letters of credit).

Our wholly owned Belgian subsidiary, Imbali, maintains a line of credit with ING Belgium S.A./N.V., for a EUR 8 million commitment for loans and documentary letters of credit.  Loan advances are limited to a percentage of Imbali’s pledged accounts receivables and inventory. This secured credit arrangement is unconditionally guaranteed by the Company. As of June 30, 2012 the outstanding loan amounted to EUR 4,880 (US $6,179), as compared to EUR 6,500 (US $8,424) on December 31, 2011 bearing interest at EURIBOR plus 1.75% and Imbali was in compliance with all financial covenants.

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Document and Entity Information	6 Months Ended
	Jun. 30, 2012	Aug. 08, 2012
Entity Registrant Name	EMPIRE RESOURCES INC /NEW/
Entity Central Index Key	0001019272
Document Type	10-Q
Document Period End Date	Jun. 30, 2012
Amendment Flag	true
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Trading Symbol	erso
Entity Common Stock, Shares Outstanding		8,549,654
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2012
Amendment Description	This is being filed to add detailed tagging for XBRL purposes.

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Mortgage Payable

6 Months Ended

Jun. 30, 2012

Debt Disclosure [Abstract]

Mortgage Notes Payable Disclosure [Text Block]

10. Mortgage Payable

In connection with the purchase of its Baltimore warehouse, the Company entered into a mortgage loan, which had outstanding balances of $1.5 million at June 30, 2012 and $1.6 million at December 31, 2011. The loan requires monthly payments of approximately $21.6, including interest at LIBOR plus 1.75%, and matures in December 2014.  Under a related interest rate swap, which has been designated as a cash flow hedge and remains effective through the maturity of the mortgage loan, we pay a monthly fixed interest rate of 6.37% to the counterparty bank on a notional principal equal to the outstanding principal balance of the mortgage.  In return, the bank pays us a floating rate, namely, LIBOR, which resets monthly, plus 1.75% on the same notional principal amount.

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Condensed Consolidated Statements of Income (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Net sales	$ 145,692	$ 126,606	$ 291,301	$ 240,133
Cost of goods sold	139,271	121,312	278,526	229,116
Gross profit	6,421	5,294	12,775	11,017
Selling, general and administrative expenses	3,307	2,863	6,759	5,635
Operating income	3,114	2,431	6,016	5,382
Other income/(expenses)
Change in value of derivative liability	195	0	(49)	0
Interest expense, net	(1,413)	(694)	(2,741)	(1,101)
Income before income taxes	1,896	1,737	3,226	4,281
Income taxes	728	682	1,227	1,648
Net income	$ 1,168	$ 1,055	$ 1,999	$ 2,633
Weighted average shares outstanding:
Basic (in Shares)	9,230	9,259	9,205	9,259
Diluted (in Shares)	12,117	10,285	12,096	9,920
Earnings per share:
Basic (in dollars per share)	$ 0.13	$ 0.11	$ 0.22	$ 0.28
Diluted (in dollars per share)	$ 0.11	$ 0.11	$ 0.21	$ 0.27

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Newly Effective Accounting Pronouncements

6 Months Ended

Jun. 30, 2012

Accounting Changes and Error Corrections [Abstract]

New Accounting Pronouncements and Changes in Accounting Principles [Text Block]

4. Newly Effective Accounting Pronouncements

In May 2011, the Financial Accounting Standard Board (the “FASB”) issued new guidance which amends fair value disclosures for fiscal years beginning after December 15, 2011. Such amendments include a consistent definition of fair value, enhanced disclosure requirements for Level 3 fair value adjustments and other changes to required disclosures.  The Company adopted the new disclosure guidance effective January 1, 2012.

In June 2011, the FASB issued authoritative guidance that amends the presentation of comprehensive income in the financial statements by requiring an entity to present the total comprehensive income, the components of net income and the components of other comprehensive income either in a single continuous statement of comprehensive income or in two separate but consecutive statements. The update also eliminates the option to present the components of other comprehensive income as part of the statement of changes in stockholders’ equity. The guidance is effective for interim and annual reporting periods beginning on or after December 15, 2011, with early adoption permitted. The Company adopted this guidance effective January 1, 2012.

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Use of Estimates

6 Months Ended

Jun. 30, 2012

Text Block [Abstract]

Use Of Estimates Disclosure [Text Block]

3. Use of Estimates

The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period.  Actual results could differ from these estimates.

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Fair Value

6 Months Ended

Jun. 30, 2012

Fair Value Disclosures [Abstract]

Fair Value Disclosures [Text Block]

15. Fair Value

Authoritative guidance defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.  The fair value hierarchy consists of three broad levels, as described below:

· Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.

· Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly.

· Level 3 - Inputs that are both significant to the fair value measurement and unobservable.

Derivative contracts consisting of aluminum contracts, foreign currency contracts, and interest rates swaps are valued using quoted market prices and significant other observable inputs.  These financial instruments are typically exchange-traded and are generally classified within Level 1 or Level 2 of the fair value hierarchy depending on whether the exchange is deemed to be an active market or not.

Major categories of assets and liabilities measured at fair value at June 30, 2012 and December 31, 2011 are classified as follows:

	June 30, 2012						December 31, 2011
	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3
Assets:
Inventories	$	149,190					$	172,068
Aluminum futures contracts		6,804						4,915
Liabilities:
Foreign currency futures    contracts		125						315
Interest rate swap contracts			$	138					$	161
Embedded conversion option					$	1,983					$	1,934

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Convertible Subordinated Debt

6 Months Ended

Jun. 30, 2012

Debt Disclosure [Abstract]

Subordinated Borrowings Disclosure [Text Block]

11. Convertible Subordinated Debt

On June 3, 2011, the Company sold $12,000 principal amount of 10% Convertible Senior Subordinated Notes Due June 1, 2016 in a private placement to selected accredited investors.  As of June 30, 2012, the notes are convertible at the option of the holders into shares of common stock at a conversion rate of 224.51 shares of common stock per $1,000 principal amount of notes (equivalent to a conversion price of $4.45 per share of common stock), subject to dilutive adjustment for cash and stock dividends, stock splits and similar transactions, at any time before maturity.  The current conversion price reflects five adjustments for dividends declared on common stock since the issuance of the notes.  In addition, if the last reported sale price of the Company’s common stock for 30 consecutive trading days is equal to or greater than $7.00, and a registration statement is effective covering the resale of the shares of common stock issuable upon conversion of the notes, the Company has the right, in its sole discretion, to require the holders to convert all or part of their notes at the then applicable conversion rate.  Interest on the notes is payable in arrears on the first day of June and December every year the notes are outstanding. The purchase agreement pursuant to which the notes were issued contains covenants, including restrictions on the Company’s ability to incur certain indebtedness and create certain liens. As of June 30, 2012, the Company was in compliance with all covenants. Officers and directors of the Company and certain affiliated entities purchased $4,000 principal amount of the notes.

As a result of transactions which cause adjustments to the conversion rate, the embedded conversion option has been bifurcated and recorded as a separate derivative liability at a fair value at issuance of the notes of $2,829, with a corresponding discount recorded on the notes. The derivative liability is carried at fair value with changes therein recorded in income. The quarterly mark to market of the derivative liability will result in non-operating, non-cash gains or losses based on decreases or increases in the Company’s stock price, respectively, among other factors. The non-cash discount is being amortized as additional interest expense over the term of the notes. During the three month and six month periods ended June 30, 2012, the change in the fair value of the derivative liability resulted in a gain of $195 and a loss of $49, respectively and amortization of the discount amounted to $142 and $283, respectively.

The derivative liability was valued using a lattice model using Level 3 inputs. This technique was selected because it embodies all of the types of inputs that the Company expects market participants would consider in determining the fair value of equity linked derivatives embedded in hybrid debt agreements.

The following table summarizes the significant inputs resulting from the calculations as of June 30, 2012 and December 31, 2011:

	June 30, 2012			December 31, 2011
Equity value	$	25,698		$	25,897
Volatility		70	%		70	%
Risk free return		0.57	%		0.83	%
Dividend Yield		3.34	%		3.57	%
Strike Price	$	4.45		$	4.57

The majority of the proceeds from the convertible subordinated debt was earmarked for a long term advance in connection with a supply agreement with the Indonesian company PT. Alumindo Light Metal Industry Tbk (“PT. Alumindo”), a leading producer of high quality semi-finished aluminum products, and its affiliates, as described below.  The Company provided a $10 million non-interest bearing loan to an affiliate of PT. Alumindo to enable the expansion of capacity within that group of companies’ production network.  Agreements entered into in connection with this loan also provide for a long term, multi-year substantial and preferential supply position from PT. Alumindo's premier aluminum rolling mill located in Surabaya, Indonesia.   The loan is to be repaid to the Company beginning on January 1, 2013 in monthly installments of $278. If the Company and PT. Alumindo are unable to agree on a product price under the supply agreement for any given quarter, the monthly re-payment obligation will increase to $556 and the outstanding balance will accrue interest, at the one month U.S. dollar LIBOR rate plus 3.5% per annum, per month. The entire remaining balance, if any, must be repaid on January 1, 2016.  The specific parties to the agreement, PT. Alumindo, Southern Aluminum Industry and Fung Lam Trading Company, are related parties controlled by the Maspion Group - Indonesia.  The Fung Lam Trading Company Ltd, which is wholly owned by the Maspion Group, is a holding company for the group’s investments in China, including 70% ownership of Southern Aluminum Industry. The loan was made to Fung Lam Trading Company Ltd at the request of Maspion Group – Indonesia.  The purpose of the loan was to allow the Maspion Group - Indonesia to increase its overall production capacity, specifically for regional markets and for distribution in China. As consideration for this loan the Maspion Group - Indonesia agreed to make available a committed and significant tonnage of production to the Company on a guaranteed and long-term basis, which will help the Company lessen the risk of an interruption in the sources of its metal supply from PT. Alumindo’s mill in Surabaya, Indonesia, with which the Company has had substantial experience.  The supply agreement calls for increased supply and minimum tonnages.

Interest at the rate of 3.74%, based on the interest rate chargeable in the agreement in the event the supplier does not meet its supply commitments, has been imputed on the non-interest bearing advance and the resulting discount which amounted to $962 has been ascribed to the preferential supply agreement.  Imputed interest is recorded in income over the term of the advance by use of the interest method. The preferential supply agreement will be amortized by the straight line method over three years starting from January 1, 2013, the date that the increased supply is due to begin.

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Treasury Stock

6 Months Ended

Jun. 30, 2012

Equity [Abstract]

Treasury Stock [Text Block]

7. Treasury Stock

On July 22, 2008, the Board of Directors authorized the Company to repurchase up to 2,000 shares of its common stock.  As of December 31, 2011 the Company repurchased a total of 598 shares under its repurchase program for an aggregate cost of $1,281.  On June 4, 2012 the Company filed a tender offer statement with the Securities and Exchange Commission to repurchase up to 1,000 shares at price of $3.00 per share.  The Company acquired 600 common shares at a cost of $1,801 pursuant to the tender offer which expired on June 29, 2012.  In addition, the Company acquired 43 additional common shares at a cost of $131 during the six month period ended June 30, 2012.

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Concentrations

6 Months Ended

Jun. 30, 2012

Risks and Uncertainties [Abstract]

Concentration Risk Disclosure [Text Block]

5. Concentrations

Two customers accounted for approximately 11% and 10% of our consolidated net sales for the six month period ended June 30, 2012 and 12% and 9% respectively, for the six month period ended June 30, 2011.

The Company’s purchase of metal products is from a limited number of suppliers located throughout the world.  Two suppliers, PT Alumindo Light Metal Industry and Hulamin Ltd. accounted for 63% of total purchases during the six month period ended June 30, 2012 as compared to 38% during the same period ended June 30, 2011.

The loss of any one of our largest suppliers or a material default by any such supplier in its obligations to us could have a material adverse effect on our business.

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Stock Options

6 Months Ended

Jun. 30, 2012

Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

6. Stock Options

Stock-based compensation for an award of equity instruments, including stock options,  is recognized as an expense over the vesting period based on the fair value of the award at the grant date.  As of June 30, 2012, there were outstanding employee stock options to acquire 414 common shares, which had vested in prior years, and during the six month periods ended June 30, 2012 and 2011, we did not grant any stock options or any other stock-based awards. During the 3 months ended June 30, 2012, options to acquire 2 shares of common stock expired.

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Inventories

6 Months Ended

Jun. 30, 2012

Inventory Disclosure [Abstract]

Inventory Disclosure [Text Block]

8. Inventories

Inventories, which consist of purchased semi-finished metal products, are stated at the lower of cost or market value.  Cost is determined by the specific-identification method. Inventory is purchased for specific customer orders and our own inventory.  The carrying amount of inventory which is hedged by futures contracts designated as fair value hedges is adjusted to fair value.

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Treasury Stock (Details Textual) (USD $) In Thousands, except Per Share data, unless otherwise specified	1 Months Ended	6 Months Ended	12 Months Ended
	Jun. 04, 2012	Jun. 30, 2012	Dec. 31, 2011	Jul. 22, 2008
Stock Repurchase Program, Number of Shares Authorized to be Repurchased				2,000
Treasury stock acquired	$ 1,801	$ 1,932	$ 1,281
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased	1,000
Stock Repurchased During Period, Shares		43
Stock Repurchased During Period, Value		$ 131
Treasury Stock Shares Acquired Cost Method	600		598
Treasury Stock Acquired Average Cost Per Shares	$ 3.00

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Dividends

6 Months Ended

Jun. 30, 2012

Notes To Financial Statements [Abstract]

Dividend Disclosure [Text Block]

13. Dividends

On March 22, 2012, our Board of Directors declared a cash dividend of $0.025 per share to stockholders of record at the close of business on April 6, 2012. The dividend, totaling $230, was paid on April 20, 2012. On June 21, 2012, our Board of Directors declared a cash dividend of $0.025 per share to stockholders of record at the close of business on July 6, 2012 except for those shares tendered under the stock repurchase plan.  The dividend, totaling $215, is reflected in dividends payable on the accompanying balance sheet at June 30, 2012 and was paid on July 20, 2012.  The Board of Directors will review its dividend policy on a quarterly basis, and make a determination subject to the profitability and free cash flow and the other requirements of its business.

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Commitments and Contingencies

6 Months Ended

Jun. 30, 2012

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies Disclosure [Text Block]

18. Commitments and Contingencies

We have $34,269 in outstanding letters of credit to certain of our suppliers at June 30, 2012.

On October 31, 2011, MF Global UK Limited (“MFG”), one of the Company’s London Metal Exchange (“LME”) clearing brokers, went into special administration under The Investment Bank Special Administration Regulations 2011 in the UK.  The Company had no cash balances with MFG on October 31, 2011. The majority of the positions traded through MFG were transferred to another LME broker. However, for the contracts not transferred, the Company has a claim of approximately $800 against MFG, representing the fair value of the contracts on such date which has been written off to cost of goods sold based on the uncertainty of recoverability from MFG. The Company has been in discussions to explore the sale of its claim against MFG.

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Derivative Financial Instruments and Risk Management (Details) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
Fair Value Hedge Assets	$ 6,804	$ 4,915
Fair Value Hedge Liabilities	125	315
Other Current Assets [Member] | Aluminum Futures [Member]
Fair Value Hedge Assets	6,804	4,915
Accrued Expenses and Derivative Liabilities [Member] | Foreign Exchange Forward [Member]
Fair Value Hedge Liabilities	$ 125	$ 315

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Condensed Consolidated Statements of Comprehensive Income (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Net Income	$ 1,168	$ 1,055	$ 1,999	$ 2,633
Other comprehensive income before tax
Foreign currency translation adjustments	(153)	77	(69)	230
Decrease in value of interest rate swap liability	13	(12)	24	10
Increase (decrease) in value of marketable securities	(2)	1	(1)	(2)
Other comprehensive income before tax	(142)	66	(46)	238
Income tax related to components of other comprehensive income	(5)	3	(9)	(4)
Other comprehensive income, net of tax	(147)	69	(55)	234
Comprehensive income	$ 1,021	$ 1,124	$ 1,944	$ 2,867

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Interim Financial Statements

6 Months Ended

Jun. 30, 2012

Organization, Consolidation and Presentation Of Financial Statements [Abstract]

Basis of Accounting [Text Block]

2. Interim Financial Statements

The consolidated interim financial statements included herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim reporting.  The information and note disclosures normally included in complete financial statements prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) have been condensed or omitted pursuant to such rules and regulations.  The interim financial statements should be read in conjunction with the Company’s audited financial statements and notes thereto for the year ended December 31, 2011, which are included in the Company’s prospectus filed pursuant to Rule 424(b) under the Securities Act of 1933, as amended, with the SEC on May 3, 2012.

The Company’s management is responsible for interim financial information.  In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments which are of a normal and recurring nature, necessary to present fairly the Company’s financial position as of June 30, 2012 and the results of its operations and cash flows for the three and six months ended June 30, 2012 and 2011.   Interim results may not be indicative of the results that may be expected for the year.

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Convertible Subordinated Debt (Tables)

6 Months Ended

Jun. 30, 2012

Debt Disclosure [Abstract]

Fair Value, by Balance Sheet Grouping [Table Text Block]

The following table summarizes the significant inputs resulting from the calculations as of June 30, 2012 and December 31, 2011:

	June 30, 2012			December 31, 2011
Equity value	$	25,698		$	25,897
Volatility		70	%		70	%
Risk free return		0.57	%		0.83	%
Dividend Yield		3.34	%		3.57	%
Strike Price	$	4.45		$	4.57

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Convertible Subordinated Debt (Details Textual) (USD $)	3 Months Ended	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2012	Jun. 30, 2011	Dec. 31, 2011
Debt Instrument, Convertible, Conversion Price	$ 4.45	$ 4.45
Convertible Subordinated Debt	$ 4,000,000	$ 4,000,000
Derivative Liability, Fair Value, Net	2,829,000	2,829,000
Unrealized Gain (Loss) on Derivatives	195,000	49,000
Amortization of convertible note discount	142,000	283,000	0
Noncontrolling Interest, Ownership Percentage by Parent	70.00%	70.00%
Finite-Lived Intangible Assets, Net	962,000	962,000		521,000
Related Party Loan Interest Rate Basis Upon Disagreement		3.74%
Convertible Senior Subordinated Notes [Member]
Proceeds from Issuance of Subordinated Long-term Debt		12,000,000
Debt Instrument, Interest Rate During Period		10.00%
Debt Instrument, Maturity Date		Jun. 01, 2016
Debt Instrument, Convertible, Conversion Price	$ 7.00	$ 7.00
Debt Conversion Number Of Common Stock Per 1000 Principal Amount		$ 224.51
Supply Agreement With Pt. Alumindo [Member]
Payments to Fund Long-term Loans to Related Parties		10,000,000
Related Party Loan Monthly Installment		278,000
Related Party Loan Monthly Installment Upon Disagreement		$ 556,000
Related Party Loan Effective Interest Rate Upon Disagreement		3.50%

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Earnings per Share

6 Months Ended

Jun. 30, 2012

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

12. Earnings per Share

Basic earnings per share are based upon weighted average number of shares of common stock outstanding during each period. Diluted earnings per share are based upon the weighted average number of shares of common stock outstanding during each period, plus potential dilutive shares of common stock from assumed exercise of the outstanding stock options using the treasury stock method and assumed conversion of subordinated debt, weighted for the period the debt was outstanding.

The following table sets forth the computation of basic and diluted earnings per share.

	Three Months Ended June 30,						Six Months Ended June 30,
	2012			2011			2012		2011
Numerator:
Net income	$	1,168		$	1,055		$	1,999	$	2,633
Add back of interest on convertible subordinated debt, net of taxes		185			56			371		56
Add back of amortization of discount on convertible subordinated debt, net of taxes		87			27			175		27
Adjustment for change in value of convertible note derivative, net of taxes		(121	)		(5	)		30		(5	)
Numerator for diluted earnings per share	$	1,319		$	1,133		$	2,575	$	2,711
Denominator:
Weighted average shares outstanding-basic		9,230			9,259			9,205		9,259
Dilutive effect of stock options		193			260			197		276
Dilutive effect of convertible subordinated debt		2,694			766			2,694		385
Weighted average shares outstanding-diluted		12,117			10,285			12,096		9,920
Basic Earnings per Share	$	0.13		$	0.11		$	0.22	$	0.28
Diluted Earnings per Share	$	0.11		$	0.11		$	0.21	$	0.27