Note 12 - Operating Segments

12 Months Ended

Dec. 31, 2012

Segment Reporting Disclosure [Text Block]

NOTE 12:                    OPERATING SEGMENTS

As of December 31, 2012, the Company’s operations were classified into three reportable segments:  distillery products, ingredient solutions and other. On February 8, 2013, the Company sold substantially all of the assets of included in its other segment as further described in Note 20. Subsequent Events.   The distillery products segment consists of food grade alcohol, along with fuel grade alcohol, and distillers feed, which are co-products of our 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 resins and plant-based polymers and composites manufactured through the further processing of certain of our 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.

	Year Ended December 31, 2012			Six Months Ended December 31, 2011			Year Ended June 30, 2011
Sales to Customers
Distillery products	$	276,690		$	118,437		$	188,993
Ingredient solutions		56,488			27,596			57,765
Other(i)		1,157			444			1,157
Total	$	334,335		$	146,477		$	247,915
Depreciation and amortization
Distillery products	$	5,662		$	2,128		$	4,720
Ingredient solutions		2,427			1,240			2,148
Other(i)		244			122			245
Corporate		3,235			1,557			1,730
Total	$	11,568		$	5,047		$	8,843
Income (loss) before Income Taxes
Distillery products	$	14,874		$	1,234		$	19,720
Ingredient solutions		5,217			1,044			1,828
Other(i)		(429	)		(274	)		(521	)
Corporate		(21,775	)		(11,422	)		(22,272	)
Gain on sale of joint venture interest (ii)		4,055			-			-
Impairment of long-lived assets (ii)		-			(1,301	)		-
Bargain purchase gain, net of tax(ii)		-			13,048			-
Total	$	1,942		$	2,329		$	(1,245	)

(i)   This segment was sold subsequent to December 31, 2012 as further described in Note 20. Subsequent Events.

(ii)   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, impairment of long-lived assets and bargain purchase gain for the year ended December 31, 2012, the six month transition period ended December 31, 2011, and for the year ended June 30, 2011 have been excluded from the Company’s segments.

	December 31,
	2012		2011
Identifiable Assets
Distillery products	$	107,140	$	99,374
Ingredient solutions		27,038		26,546
Other(i)		1,247		1,448
Corporate		27,746		41,789
Total	$	163,171	$	169,157

(i)   This segment was sold subsequent to December 31, 2012 as further described in Note 20. Subsequent Events.

Information about the Company's capital expenditures, by segment, is as follows:

	Year Ended December 31, 2012		Six Months Ended December 31, 2011		Year Ended June 30, 2011
Distillery products(i)	$	7,422	$	12,033	$	9,340
Ingredient solutions		1,078		765		4,434
Other (ii)		20		-		-
Corporate		1,187		545		808
Total	$	9,707	$	13,343	$	14,582

(i)   Includes $11,041 related to acquisition of LDI’s Distillery Business (see Note 18. Business Combination) for the six months ended December 31, 2011.

(ii)   This segment was sold subsequent to December 31, 2012 as further described in Note 20. Subsequent Events.

Revenue from foreign sources total $18,957, $10,274 and $21,919 for the year ended December 31, 2012, six month period ended December 31, 2011, and the year ended June 30, 2011, respectively and is largely derived from Japan and Canada.  There is an immaterial amount of assets located in foreign countries.