Note 7 - Operating Segments

9 Months Ended

Sep. 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, 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
	September 30, 2012			September 30, 2011			September 30, 2012			September 30, 2011
Net Sales to Customers
Distillery products	$	61,513		$	60,537		$	205,194		$	163,830
Ingredient solutions		14,184			15,414			41,852			44,592
Other		410			187			939			702
Total		76,107			76,138			247,985			209,124
Depreciation and amortization
Distillery products		1,433			1,055			4,201			3,575
Ingredient solutions		567			599			1,863			1,752
Other		61			61			183			225
Corporate		776			672			2,433			1,595
Total		2,837			2,387			8,680			7,147
Income (Loss) before Income Taxes
Distillery products		3,513			379			9,960			4,673
Ingredient solutions		2,184			1,592			4,760			1,557
Other		(85	)		(112	)		(332	)		(497	)
Corporate(i)		(5,094	)		(7,334	)		(16,847	)		(20,732	)
Gain on sale of joint venture interest(i)		-			-			4,055			-
Total	$	518		$	(5,475	)	$	1,596		$	(14,998	)

(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 September 30, 2012 has been excluded from the Company’s segments.

	As of September 30,  2012		As of December 31, 2011(ii)
Identifiable Assets
Distillery products	$	102,415	$	99,374
Ingredient solutions		25,808		26,546
Other		1,479		1,448
Corporate		28,939		41,789
Total	$	158,641	$	169,157

(ii)   The amounts at December 31, 2011 have been adjusted to reflect how assets are deployed in the Company's business.