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v2.4.0.6
SEGMENT INFORMATION
9 Months Ended
Sep. 30, 2011
Segment Reporting [Abstract]  
Segment Reporting Disclosure [Text Block]

Note 14 -   SEGMENT INFORMATION

 

We separately operate and prepare accounting and other financial reports to management for five business organizations: Wang Da, Sanhe, Yiwu, Joy & Harmony and Jinhua. Each operating company has different products and services.  Wang Da sells mainly mobile phones, Sanhe sells mainly home appliances, Yiwu sells mainly office communication products, Joy & Harmony sells mainly consumer electronics and Jinhua provides transportation logistics to businesses. All segments are accounted for using the same principles as described in Note 2.

 

We identified five reportable segments required by FASB ASC Topic 280: (1) mobile phones, (2) home electronics, (3) office communication products, (4) consumer electronics and (5) logistics.

 
The following tables present summarized information by segment:

 

    Nine Months Ended September 30, 2011  
    Mobile     Home     Communication     Consumer                    
    Phones     Electronics     Products     Electronics     Logistics     Other     Total  

Sales, net

(restated)

  $ 30,204     $ 29,964     $ 10,731     $ 25,683     $ 6,107     $ 369     $ 103,058  
Cost of sales     28,592       27,914       9,793       23,139       7,430       356       97,224  

Gross profit (loss)

(restated)

    1,612       2,050       938       2,544       (1,323     13       5,834  

Income (loss) from operations

(restated)

    (9,087 )     (8,093 )     (1,390 )     (5,234 )     (2,515     (2,542 )     (28,861 )

 

  Nine months Ended September 30, 2010  
  Mobile     Home     Communication     Consumer                      
  Phones     Electronics     Products     Electronics     Logistics     Other     Total    

Sales, net

(restated)

$ 31,762     $ 32,322     $ 15,813     $ 29,681     $ 8,084     $ 503     $ 118,165    
Cost of sales   28,990       28,643       14,079       25,888       6,620       444       104,664    

Gross profit

(restated)

  2,772       3,679       1,734       3,793       1,464       59       13,501    

Income (loss) from operations

(restated)

  (1,322            (1,438     (801     (1,175     346       (1,516     (5,906

 

 

    Three Months Ended September 30, 2011  
    Mobile     Home     Communication     Consumer                    
    Phones     Electronics     Products     Electronics     Logistics     Other     Total  

Sales, net

(restated)

  $ 8,458     $ 8,741     $ 3,119     $ 7,171     $ 1,720     $ 92     $ 29,301  
Cost of sales     8,221       8,318       2,949       6,711       2,561       96       28,856  

Gross profit (loss)

(restated)

    237       423       170       460       (841     (4 )     445  

(Loss) from operations

(restated)

    (7,314 )     (5,789 )     (540 )     (3,194 )     (1,207     (919 )     (18,963 )

  

    Three Months Ended September 30, 2010  
    Mobile     Home     Communication     Consumer                    
    Phones     Electronics     Products     Electronics     Logistics     Other     Total  

Sales, net

(restated)

  $  10,311     $  10,269     $ 4,860     $     9,251     $    2,568     $   121     $ 37,380  
Cost of sales     9,456          9,240             4,413           8,214          2,298        104       33,725  

Gross profit

(restated)

       855          1,029       447       1,037            270          17       3,655  

Loss from operations

(restated)

    (497     (565     (315     (547     (102     (465     (2,491

 
Total assets by segment as of September 30, 2011 and December 31, 2010 are as follows:

 

    Mobile     Home     Communication     Consumer                    
    Phones     Electronics     Products     Electronics     Logistics     Other     Total  
2011 (restated)   $ 7,043     $ 8,491     $ 10,065     $ 5,254     $ 13,496     $ 847     $ 45,196  
2010 (restated)   $ 10,993       14,988       9,967       18,536       15,837       2,810       73,131