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v2.4.0.6
Segment Information
9 Months Ended
Mar. 31, 2012
Segment Information [Abstract]  
Segment Information

NOTE 16 - SEGMENT INFORMATION

 

The Company has four reportable segments represented by its four subsidiaries Changshu Huaye, Jiangsu Cold-Rolled, Ningbo Zhehua and Sutor Technology Co., Ltd. as described in Note 1.

 

Factors Management Used to Identify the Enterprise’s Reportable Segments - The Company’s reportable segments are business units that offer different products and are managed separately and require reporting to the various regulatory jurisdictions. Changshu Huaye mainly produces HDG products and PPGI products.  Jiangsu Cold-Rolled offers cold-rolled steel strips, acid pickled steel and hot-dip galvanized steel products. Ningbo Zhehua trades steel and manufactures heavy steel pipe products and Sutor Technology engages in trading of steel products.

 

Certain segment information is presented below:

 

As of March 31, 2012 and
for the three months then
ended
  Changshu
Huaye
   Jiangsu
Cold-Rolled
   Ningbo
Zhehua
   Sutor
Technology
   Inter-Segment and
Reconciling Items
   Total 
                         
Revenue  $22,682,523   $47,121,236   $5,103,041   $2,363,043   $23,499   $77,293,342 
Revenue from related parties   9,628,855    23,011,001    1,857    -    -    32,641,713 
Revenue from other operating segments   2,939,039    8,520,488    -    -    (11,459,527)   - 
Total operating expenses   1,715,753    470,342    678,402    207,220    75,574    3,147,291 
Interest income   201,577    92,345    75,315    116    (792)   368,561 
Interest expense   511,787    2,791,671    53,912    -    127,574    3,484,944 
Depreciation and amortization expense   588,398    1,481,765    239,447    3,350    -    2,312,960 
Income tax expense   86,546    455,156    11,810    -    3    553,515 
Net segment profit/(loss)   489,380    1,716,454    (539,059)   (196,797)   (251,309)   1,218,669 
Capital expenditures   (20,484)   3,521,894    30,895    -    -    3,532,305 
Segment assets  $258,288,503   $369,967,663   $46,153,969   $33,949,134   $(223,612,080)  $484,747,189 
                               

 

As of March 31, 2011 and
for the three months then
ended
  Changshu
Huaye
   Jiangsu Cold-
Rolled
   Ningbo
Zhehua
   Sutor
Technology
   Inter-Segment and
Reconciling Items
   Total 
                         
Revenue  $24,212,157   $21,426,727   $6,775,413   $-   $10,107,280   $62,521,577 
Revenue from related parties   7,576,183    31,244,129    32,728    -    -    38,853,040 
Revenue from other operating segments   9,261,134    24,045,241    -    -    (33,306,375)   - 
Total operating expenses   1,953,224    263,334    682,270    14,481    150,512    3,063,821 
Interest income   136,956    25,285    26,456    -    -    188,697 
Interest expense   250,122    1,515,642    89,301    -    131,475    1,986,540 
Depreciation and amortization expense   555,048    1,151,399    225,125    -    -    1,931,572 
Income tax (benefit)/expense   (200,100)   225,011    52,047    -    -    76,958 
Net segment profit/(loss)   1,234,034    1,576,022    (40,941)   (14,481)   713,575    3,468,209 
Capital expenditures   23,566    477,390    1,902    515    -    503,373 
Segment assets  $222,780,712   $296,264,832   $28,353,809   $23,461,222   $(228,445,667)  $342,414,908 

 

As of March 31, 2012 and
for the nine months then
ended
  Changshu
Huaye
   Jiangsu
Cold-Rolled
   Ningbo
Zhehua
   Sutor
Technology
   Inter-Segment and
Reconciling Items
   Total 
                         
Revenue  $91,344,305   $111,492,121   $34,739,377   $5,495,116   $15,689,920   $258,760,839 
Revenue from related parties   13,340,581    75,776,497    147,553    -         89,264,631 
Revenue from other operating segments   30,584,987    70,198,868    -    -    (100,783,855)   - 
Total operating expenses   8,002,675    1,691,877    2,312,363    497,400    561,363    13,065,678 
Interest income   504,833    392,486    149,128    498    31    1,046,976 
Interest expense   1,237,112    5,645,882    213,640    -    555,826    7,652,460 
Depreciation and amortization expense   1,719,613    3,806,154    700,230    266,263         6,492,260 
Income tax expense/(benefit)   (162,421)   87,584    116,468    -    111,555    153,186 
Net segment profit/(loss)   1,217,938    8,103,617    (168,800)   (473,528)   93,717    8,772,944 
Capital expenditures   42,828    12,973,010    121,687    -         13,137,525 
Segment assets  $258,288,503   $369,967,663   $46,153,969   $33,949,134   $(223,612,080)  $484,747,189 
                               

 

As of March 31, 2011 and
for the nine months then
ended
  Changshu
Huaye
   Jiangsu Cold-
Rolled
   Ningbo
Zhehua
   Sutor
Technology
   Inter-Segment and
Reconciling Items
   Total 
                         
Revenue  $47,122,545   $70,604,476   $21,285,217   $-   $18,790,202   $157,802,440 
Revenue from related parties   56,722,292    88,020,635    199,461    -         144,942,388 
Revenue from other operating segments   18,602,005    78,382,879    -    -    (96,984,884)   - 
Total operating expenses   5,416,128    1,133,303    2,699,396    14,544    526,821    9,790,192 
Interest income   370,838    206,649    48,925    -    -    626,412 
Interest expense   684,232    4,639,731    132,415    -    400,265    5,856,643 
Depreciation and amortization expense   1,642,232    3,408,744    664,879    -    -    5,715,855 
Income tax expense   501,003    785,113    22,779    -    -    1,308,895 
Net segment profit/(loss)   3,325,410    5,639,419    4,332    (14,544)   859,241    9,813,858 
Capital expenditures   37,234    1,190,840    28,425    78,564    -    1,335,063 
Segment assets  $222,780,712   $296,264,832   $28,353,809   $23,461,222   $(228,445,667)  $342,414,908