XML 55 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (USD $)
3 Months Ended 9 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Mar. 31, 2013
Mar. 31, 2012
Sales        
Net sales $ 65,872,533 $ 60,016,344 $ 147,116,265 $ 160,212,935
Cost of goods sold        
Cost of goods sold 44,126,828 37,541,005 92,243,654 102,439,379
Gross profit 21,745,705 22,475,339 54,872,611 57,773,556
Operating expenses        
Selling expenses 3,872,492 3,633,223 10,044,863 8,538,445
General and administrative expenses 1,348,802 2,980,108 7,381,015 9,897,785
Total operating expenses 5,221,294 6,613,331 17,425,878 18,436,230
Income from operations 16,524,411 15,862,008 37,446,733 39,337,326
Other income (expense)        
Other income (expense) 212,344 (56,082) 609,724 7,584
Interest income 73,879 89,314 235,028 276,917
Interest expense, net (268,455) (554,325) (1,020,694) (1,110,672)
Total other income (expense) 17,768 (521,093) (175,942) (826,171)
Income before income taxes 16,542,179 15,340,915 37,270,791 38,511,155
Provision for income taxes 3,131,520 2,966,554 6,757,404 7,661,280
Net income 13,410,659 12,374,361 30,513,387 30,849,875
Other comprehensive income        
Foreign currency translation gain (loss) 1,541,434 1,375,927 1,696,220 4,719,169
Comprehensive income 14,952,093 13,750,288 32,209,607 35,569,044
Basic weighted average shares outstanding (in shares) 27,939,780 26,960,277 27,682,345 26,919,678
Basic net earnings per share (in dollars per share) $ 0.48 $ 0.46 $ 1.10 $ 1.15
Diluted weighted average shares outstanding (in shares) 27,939,780 26,960,277 27,682,345 26,919,678
Diluted net earnings per share (in dollars per share) $ 0.48 $ 0.46 $ 1.10 $ 1.15
Jinong [Member]
       
Sales        
Net sales 27,051,929 22,311,668 77,857,756 63,543,075
Cost of goods sold        
Cost of goods sold 12,502,786 8,621,378 35,994,694 24,290,985
Operating expenses        
Income from operations 11,406,985 10,975,095 31,418,916 32,421,375
Other income (expense)        
Interest expense, net 0 0 0 0
Provision for income taxes     4,746,988 4,901,045
Net income 9,756,153 9,400,856 26,893,779 27,758,554
Gufeng [Member]
       
Sales        
Net sales 37,690,762 34,095,432 66,612,586 89,666,961
Cost of goods sold        
Cost of goods sold 30,844,656 25,669,014 54,339,165 71,631,077
Operating expenses        
Income from operations 5,642,544 5,780,062 8,821,041 12,062,444
Other income (expense)        
Interest expense, net (298,455) (554,325) (1,050,694) (1,110,672)
Provision for income taxes     2,010,416 2,760,235
Net income 4,178,836 3,865,515 5,848,880 8,055,846
Jintai [Member]
       
Sales        
Net sales 0 2,466,393 0 5,780,969
Cost of goods sold        
Cost of goods sold 0 2,270,002 0 5,276,896
Operating expenses        
Income from operations 0 (212,967) 0 (1,457,900)
Other income (expense)        
Net income 0 (212,905) 57 (1,457,704)
Yuxing [Member]
       
Sales        
Net sales 1,129,842 1,142,851 2,645,923 1,221,930
Cost of goods sold        
Cost of goods sold 779,386 980,611 1,909,795 1,240,421
Operating expenses        
Income from operations 171,500 (97,907) 260,155 (338,365)
Other income (expense)        
Net income $ 172,275 $ (96,848) $ 823,911 $ (156,914)