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Consolidated Statements of Income and Comprehensive Income (Loss) (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Mar. 31, 2017
Mar. 31, 2016
Sales        
Net sales $ 81,305,628 $ 78,638,474 $ 201,935,263 $ 189,788,745
Cost of goods sold        
Cost of goods sold 59,952,995 53,904,185 137,971,361 118,230,726
Gross profit 21,352,633 24,734,289 63,963,902 71,558,019
Operating expenses        
Selling expenses 6,130,825 3,441,511 15,108,275 11,070,369
Selling expenses - amortization of deferred asset 1,556,031 8,780,893 11,140,251 27,158,360
General and administrative expenses 3,971,890 2,204,771 11,837,282 7,864,395
Total operating expenses 11,658,746 14,427,175 38,085,808 46,093,124
Income from operations 9,693,887 10,307,114 25,878,094 25,464,895
Other income (expense)        
Other income (expense) 330,538 (2,473) 175,366 (6,307)
Interest income 79,280 263,768 232,396 416,700
Interest expense (232,639) (211,734) (464,430) (943,413)
Total other income (expense) 177,179 49,561 (56,668) (533,020)
Income before income taxes 9,871,066 10,356,675 25,821,426 24,931,875
Provision for income taxes 1,679,391 2,104,904 4,772,160 5,166,897
Net income 8,191,675 8,251,771 21,049,266 19,764,978
Other comprehensive income (loss)        
Foreign currency translation gain (loss) (2,801,325) 2,722,073 (19,248,388) (20,006,295)
Comprehensive income (loss) $ 5,390,350 $ 10,973,844 $ 1,800,878 $ (241,317)
Basic weighted average shares outstanding 38,532,033 36,962,166 37,941,957 36,610,131
Basic net earnings per share $ 0.21 $ 0.22 $ 0.55 $ 0.54
Diluted weighted average shares outstanding 38,532,033 36,962,166 37,941,957 36,610,131
Diluted net earnings per share $ 0.21 $ 0.22 $ 0.55 $ 0.54
Jinong        
Sales        
Net sales $ 26,316,821 $ 31,602,239 $ 84,570,215 $ 97,612,604
Cost of goods sold        
Cost of goods sold 12,143,167 13,353,222 37,744,757 41,328,293
Gufeng        
Sales        
Net sales 30,858,499 43,762,058 67,734,572 85,576,564
Cost of goods sold        
Cost of goods sold 26,319,435 38,109,311 57,843,171 72,567,833
Yuxing        
Sales        
Net sales 2,781,003 3,274,177 6,590,728 6,599,577
Cost of goods sold        
Cost of goods sold 2,230,319 2,441,652 5,209,973 4,334,600
VIEs        
Sales        
Net sales 21,349,305 43,039,748
Cost of goods sold        
Cost of goods sold $ 19,260,074 $ 37,173,460