XML 16 R13.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Business Segments
 6 Months Ended
Jun. 30, 2011
Business Segments

 

The Company has two operating segments, antimony and zeolite. Management reviews and evaluates the operating segments exclusive of interest and factoring expenses. Therefore, interest expense and factoring is not allocated to the segments. Selected information with respect to segments is as follows:

 

    As of June 30, 2011   As of December 31, 2010
Properties, plants and equipment, net:        
Antimony        
United States    $                     138,765    $                        73,632
Mexico                         3,254,187                         2,247,661
Subtotal Antimony                         3,392,952                         2,321,293
Zeolite                         1,616,210                         1,523,707
     $                   5,009,162    $                   3,845,000
         
Total Assets:        
Antimony        
United States    $                   1,872,273    $                      879,446
Mexico                         3,680,652                         2,719,630
Subtotal Antimony                         5,552,925                         3,599,076
Zeolite                         1,838,850                         1,763,903
Corporate                           478,712                            499,923
     $                   7,870,487    $                   5,862,902

 

    For the three months ended   For the six months ended
    June 30, 2011   June 30, 2010   June 30, 2011   June 30, 2010
Capital expenditures:                
Antimony                
United States    $         22,067    $        30,500    $        79,289    $        31,300
Mexico             997,867            230,816         1,089,236            390,664
Subtotal Antimony          1,019,934            261,316         1,168,525            421,964
Zeolite             188,140               5,000            188,140               5,000
     $    1,208,074    $      266,316    $   1,356,665    $      426,964
                 

 

    Three months ended June 30,   Six months ended June 30,
    2011   2010   2011   2010
Antimony Division - United States:              
Revenues   2,579,744    $    1,529,475   5,025,176    $    2,532,555
Cost of sales:                
Production costs   1,826,748   1,209,529   3,516,347   1,823,762
Depreciation   7,275               7,213   14,156              12,792
Freight and delivery   51,224              47,225   116,114              93,927
General and administrative 32,466              22,832   58,674              39,161
Direct sales expense   13,086              11,250   25,676              22,500
       Total cost of sales         1,930,799         1,298,049         3,730,967         1,992,142
         Gross profit - United States          648,945            231,426         1,294,209            540,413
                                     antimony                 

 

Antimony Division - Mexico:            
Revenues (1)  -  -  -  -
Cost of sales:                    
Production costs   244,651    —      469,849    149,042 
Depreciation   42,764    31,611    82,710    56,060 
Freight and delivery   910    —      1,714    5,578 
General and administrative   17,596    32,041    48,013    59,957 
      Total cost of sales   305,921    63,652    602,286    270,637 
        Gross profit (loss) - Mexico   (305,921)   (63,652)   (602,286)   (270,637)
                                    antimony                    
    Total revenues - antimony   2,579,744    1,529,475    5,025,176    2,532,555 
    Total cost of sales - antimony   2,236,720    1,361,701    4,333,253    2,262,779 
    Total gross profit - antimony   343,024    167,774    691,923    269,776 
                     

 

Zeolite Division:            
Revenues   470,258    560,698    862,865    972,444 
Cost of sales:                    
Production costs   315,310    279,726    588,612    542,380 
Depreciation   49,498    46,342    95,637    92,416 
Freight and delivery   10,320    8,030    8,040    6,852 
General and administrative   26,844    32,191    41,367    54,383 
Royalties   52,139    71,613    97,051    119,903 
Direct sales expense   18,660    17,329    37,050    34,622 
      Total cost of sales   472,771    455,231    867,757    850,556 
          Gross profit - zeolite   (2,513)   105,467    (4,892)   121,888 
                     
Total revenues - combined   3,050,002    2,090,173    5,888,041    3,504,999 
Total cost of sales - combined   2,709,491    1,816,932    5,201,010    3,113,335 
Total gross profit - combined  $340,511   $273,241   $687,031   $391,664 
                     
                     

 

(1)   Production at the Company’s Mexico operation only brings antimony up to an intermediate stage, which must then be shipped to the United States operation for finishing. Revenues are not recorded as no true sales occur at the intermediate stage.