Note 7 - Operating Segments.

3 Months Ended

Mar. 31, 2012

Segment Reporting Disclosure [Text Block]

Note 7.  Operating Segments.

The Company’s operations are classified into three reportable segments:  distillery products, ingredient solutions and other. The distillery products segment consists of food grade alcohol, along with fuel grade alcohol, commonly known as ethanol, and distillers feed, which are co-products of the Company’s distillery operations.  Ingredient solutions consist of specialty starches and proteins, commodity starch and vital wheat gluten (commodity protein).  The other segment products are comprised of plant-based polymers and composite resins manufactured through the further processing of certain of the Company’s proteins and starches and wood.

Operating profit (loss) for each segment is based on net sales less identifiable operating expenses.  Non-direct selling, general and administrative, interest expense, investment income and other general miscellaneous expenses have been excluded from segment operations and classified as Corporate.   Receivables, inventories and equipment have been identified with the segments to which they relate.  All other assets are considered as Corporate.

	Quarter Ended
	March 31, 2012			March 31, 2011
Net Sales to Customers
Distillery products	$	72,485		$	50,327
Ingredient solutions		13,578			13,574
Other		281			287
Total		86,344			64,188
Depreciation and amortization
Distillery products		1,384			1,273
Ingredient solutions		650			595
Other		61			62
Corporate		840			465
Total		2,935			2,395
Income (Loss) before Income Taxes
Distillery products		2,686			5,475
Ingredient solutions		1,638			100
Other		(96	)		(175	)
Corporate		(6,287	)		(4,536	)
Gain on sale of joint venture interest(i)		4,055			-
Total	$	1,996		$	864

(i) The Company’s management reporting does not assign or allocate special charges to the Company’s operating segments.  For purposes of comparative analysis, gain on sale of joint venture interest for the quarter ended March 31, 2012 has  been excluded from the Company’s segments.

	As of March 31,  2012		As of December 31, 2011
Identifiable Assets
Distillery products	$	97,371	$	92,881
Ingredient solutions		28,844		26,937
Other		590		348
Corporate		42,783		48,991
Total	$	169,588	$	169,157