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CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
NET SALES:        
Third-party customers $ 184,022 $ 207,091 $ 372,861 $ 395,403
Related parties 139,597 159,186 276,948 297,211
Sales Revenue – net 323,619 366,277 649,809 692,614
Cost of goods sold 317,662 316,763 623,260 600,784
Gross profit 5,957 49,514 26,549 91,830
Other operating expense (income) – net 3,817 (5,205) 7,538 (11,089)
Selling, general and administrative expenses 7,151 18,557 15,610 29,166
Operating income (5,011) 36,162 3,401 73,753
Interest expense – third party (5,946) (6,386) (11,924) (13,163)
Interest income – third party (113) (65) (251) (220)
Interest income – related parties 2 70 62 183
Net gain (loss) on forward contracts 1,450 (1,617) (3,709) (6,426)
Other income (expense) - net 161 (1,132) 467 (455)
Income (loss) before income taxes and equity in earnings of joint ventures (9,231) 27,162 (11,452) 54,112
Income tax expense (3,395) (3,636) (6,216) (6,759)
Income (loss) before equity in earnings of joint ventures (12,626) 23,526 (17,668) 47,353
Equity in earnings of joint ventures 349 460 990 1,679
Net income (loss) (12,277) 23,986 (16,678) 49,032
Net income (loss) allocated to common shareholders $ (12,277) $ 22,061 $ (16,678) $ 45,066
EARNINGS (LOSS) PER COMMON SHARE:        
Basic and Diluted (in dollars per share) $ (0.14) $ 0.24 $ (0.19) $ 0.48
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:        
Basic (in thousands of shares) 88,452 93,105 88,589 93,036
Diluted (in thousands of shares) 88,452 93,567 88,589 93,432