Note 20 - Transition Period Comparative Data

6 Months Ended

Dec. 31, 2011

Transition Period Comparative Data [Text Block]

NOTE  20:                      TRANSITION PERIOD COMPARATIVE DATA

In August 2011, the Company changed its fiscal year end from June 30 to December 31.  As a result, the Company provided certain comparable financial information for the six month transition period ended December 31, 2011 and the six months ended December 31, 2010 (unaudited) as follows:

	Six Months Ended
	December 31,			December 31,
	2011			2010
				(unaudited)
Operating Data:
Net sales	$	146,477		$	114,929
Cost of sales		143,531			95,783
Gross profit		2,946			19,146
Selling, general and administrative expenses		11,417			10,587
Other operating costs		114			650
Impairment of long-lived assets		1,301			-
Bargain purchase gain, net of tax		(13,048	)		-
Income from operations		3,162			7,909
Other income, net		48			3
Interest expense		(330	)		(266	)
Equity in earnings (loss) of joint ventures		(551	)		632
Income before income taxes		2,329			8,278
Provision (benefit) for income taxes		(8,306	)		34
Net income		10,635			8,244
Other comprehensive income loss, net		(1,020	)		(176	)
Comprehensive income	$	9,615		$	8,068
Per Share Data
Total basic earnings per common share	$	0.59		$	0.46
Total diluted earnings per common share	$	0.59		$	0.46
Shares used in computing basic earnings per share		16,875,924			16,684,606
Shares used in computing diluted earnings per share		16,879,153			16,702,189
Dividends per common share	$	0.05		$	0.05
Cash Flow Data:
Net cash used in operating activities	$	(9,603	)	$	(1,160	)
Net cash used in investing activities		(12,324	)		(3,663	)
Net cash provided by (used in) financing activities		14,707			(1,074	)
Net increase (decrease) in cash and cash equivalents	$	(7,220	)	$	(5,897	)

The comparative financial information provided for the six months ended December 31, 2010 is unaudited, since it represented an interim period of the fiscal year ended June 30, 2011, and includes all normal recurring adjustments necessary for the fair statement of the results for that period.