Note 7 - Operating Segments

6 Months Ended

Jun. 30, 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						Year to Date Ended
	June 30, 2012			June 30, 2011			June 30, 2012			June 30, 2011
Net Sales to Customers
Distillery products	$	71,196		$	52,965		$	143,681		$	103,293
Ingredient solutions		14,090			15,604			27,668			29,178
Other		248			229			529			515
Total		85,534			68,798			171,878			132,986
Depreciation and amortization
Distillery products		1,384			1,246			2,768			2,520
Ingredient solutions		646			598			1,296			1,153
Other		61			62			122			164
Corporate		817			632			1,657			923
Total		2,908			2,538			5,843			4,760
Income (Loss) before Income Taxes
Distillery products		3,762			(3,712	)		6,448			4,294
Ingredient solutions		987			(136	)		2,624			(35	)
Other		(150	)		(209	)		(246	)		(385	)
Corporate(i)		(5,517	)		(6,330	)		(11,802	)		(13,397	)
Gain on sale of joint venture interest(i)		-			-			4,055			-
Total	$	(918	)	$	(10,387	)	$	1,078		$	(9,523	)

(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 year to date period ended June 30, 2012 has been excluded from the Company’s segments.

	As of June 30,  2012		As of December 31, 2011
Identifiable Assets
Distillery products	$	96,342	$	92,881
Ingredient solutions		28,788		26,937
Other		256		348
Corporate		42,126		48,991
Total	$	167,512	$	169,157