XML 56 R18.htm IDEA: XBRL DOCUMENT
v2.4.1.9

Note 12 - Geographic and Segment Information | 6 Months Ended
--- | ---
Feb. 28, 2015
Segment Reporting [Abstract] |
Segment Reporting Disclosure [Text Block] | 12. GEOGRAPHIC AND SEGMENT INFORMATION Net sales by geographic location as a percentage of total consolidated net sales for the three and six months ended February 28, 2015 and 2014 were as follows:
|  | Three Months Ended |  |  | Six Months Ended |
|  | February 28, 2015 |  |  | February 28, 2014 |  |  | February 28, 2015 |  |  | February 28, 2014 |
Inside the U.S.A. to unaffiliated customers |  |  | 61.4 | % |  |  | 62.1 | % |  |  | 64.3 | % |  |  | 66.6 | %
Outside the U.S.A to: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Joint ventures in which the Company is a shareholder directly and indirectly |  |  | 16.9 | % |  |  | 12.9 | % |  |  | 14.1 | % |  |  | 11.7 | %
Unaffiliated customers |  |  | 21.7 | % |  |  | 25.0 | % |  |  | 21.6 | % |  |  | 21.7 | %
|  |  | 100.0 | % |  |  | 100.0 | % |  |  | 100.0 | % |  |  | 100.0 | %
Net sales by geographic location are based on the location of the customer. Fees for services provided to joint ventures accounted for under the equity method by geographic location as a percentage of total fees for services provided to joint ventures during the three months ended February 28, 2015 and 2014 were as follows:
|  | Three Months Ended |
|  | February 28, 2015 |  |  | % of Total Fees for Services Provided to Joint Ventures |  |  | February 28, 2014 |  |  | % of Total Fees for Services Provided to Joint Ventures |
Germany |  | $ | 202,633 |  |  |  | 20.4 | % |  | $ | 263,556 |  |  |  | 12.8 | %
Thailand |  |  | 156,519 |  |  |  | 15.7 | % |  |  | 130,441 |  |  |  | 6.3 | %
Japan |  |  | 124,202 |  |  |  | 12.5 | % |  |  | 167,410 |  |  |  | 8.2 | %
Poland |  |  | 116,612 |  |  |  | 11.7 | % |  |  | 152,518 |  |  |  | 7.4 | %
United Kingdom |  |  | 115,000 |  |  |  | 11.6 | % |  |  | 79,935 |  |  |  | 3.9 | %
France |  |  | 76,518 |  |  |  | 7.7 | % |  |  | 122,972 |  |  |  | 6.0 | %
India |  |  | 73,971 |  |  |  | 7.4 | % |  |  | 166,858 |  |  |  | 8.1 | %
Sweden |  |  | 72,297 |  |  |  | 7.3 | % |  |  | 92,223 |  |  |  | 4.5 | %
Finland |  |  | 52,693 |  |  |  | 5.3 | % |  |  | 76,537 |  |  |  | 3.7 | %
China |  |  | — |  |  |  | 0.0 | % |  |  | 523,451 |  |  |  | 25.4 | %
Other |  |  | 4,415 |  |  |  | 0.4 | % |  |  | 281,770 |  |  |  | 13.7 | %
|  | $ | 994,860 |  |  |  | 100.0 | % |  | $ | 2,057,671 |  |  |  | 100.0 | %
|  | Six Months Ended |
|  | February 28, 2015 |  |  | % of Total Fees for Services Provided to Joint Ventures |  |  | February 28, 2014 |  |  | % of Total Fees for Services Provided to Joint Ventures |
Germany |  |  | 440,954 |  |  |  | 14.1 | % |  |  | 527,111 |  |  |  | 12.6 | %
Thailand |  |  | 297,152 |  |  |  | 9.5 | % |  |  | 282,999 |  |  |  | 6.8 | %
Japan |  |  | 284,544 |  |  |  | 9.1 | % |  |  | 340,691 |  |  |  | 8.2 | %
Poland |  |  | 287,836 |  |  |  | 9.2 | % |  |  | 317,085 |  |  |  | 7.6 | %
United Kingdom |  |  | 211,371 |  |  |  | 6.8 | % |  |  | 154,632 |  |  |  | 3.7 | %
France |  |  | 209,898 |  |  |  | 6.7 | % |  |  | 251,075 |  |  |  | 6.0 | %
India |  |  | 143,262 |  |  |  | 4.6 | % |  |  | 166,858 |  |  |  | 4.0 | %
Sweden |  |  | 159,217 |  |  |  | 5.1 | % |  |  | 202,193 |  |  |  | 4.8 | %
Finland |  |  | 146,215 |  |  |  | 4.7 | % |  |  | 181,740 |  |  |  | 4.4 | %
China |  | $ | 516,139 |  |  |  | 16.5 | % |  | $ | 1,111,633 |  |  |  | 26.7 | %
Other |  |  | 431,942 |  |  |  | 13.7 | % |  |  | 631,302 |  |  |  | 15.2 | %
|  | $ | 3,128,530 |  |  |  | 100.0 | % |  | $ | 4,167,319 |  |  |  | 100.0 | %
The following table sets forth the Company’s net sales for the three and six months ended February 28, 2015 and 2014 by segment:
|  | Three Months Ended |  |  | Six Months Ended |
|  | February 28, 2015 |  |  | February 28, 2014 |  |  | February 28, 2015 |  |  | February 28, 2014 |
ZERUST® sales |  | $ | 5,783,985 |  |  | $ | 5,555,051 |  |  | $ | 12,022,056 |  |  | $ | 11,304,064 |
Natur-Tec™ sales |  |  | 944,724 |  |  |  | 663,957 |  |  |  | 1,920,748 |  |  |  | 1,224,044 |
Total net sales |  | $ | 6,728,709 |  |  | $ | 6,219,008 |  |  | $ | 13,942,804 |  |  | $ | 12,528,108 |
The following table sets forth the Company’s cost of goods sold for the three and six months ended February 28, 2015 and 2014 by segment:
|  | Three Months Ended |  |  | Six Months Ended |
|  | February 28, 2015 |  |  | % of Product Sales* |  |  | February 28, 2014 |  |  | % of Product Sales* |  |  | February 28, 2015 |  |  | % of Product Sales* |  |  | February 28, 2014 |  |  | % of Product Sales* |
Direct cost of goods sold |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
ZERUST® |  | $ | 3,171,103 |  |  |  | 54.8 | % |  | $ | 2,965,790 |  |  |  | 53.4 | % |  | $ | 6,509,691 |  |  |  | 54.1 | % |  | $ | 6,047,554 |  |  |  | 53.5 | %
Natur-Tec® |  |  | 719,048 |  |  |  | 76.1 | % |  |  | 490,573 |  |  |  | 73.9 | % |  |  | 1,501,623 |  |  |  | 78.2 | % |  |  | 940,037 |  |  |  | 76.8 | %
Indirect cost of goods sold |  |  | 767,589 |  |  |  | — |  |  |  | 595,470 |  |  |  | — |  |  |  | 1,453,037 |  |  |  | — |  |  |  | 1,222,273 |  |  |  | — |
Total net cost of goods sold |  | $ | 4,657,740 |  |  |  |  |  |  | $ | 4,051,833 |  |  |  |  |  |  | $ | 9,464,351 |  |  |  |  |  |  | $ | 8,209,864 |  |  |  |  |
* | The percent of segment sales is calculated by dividing the direct cost of goods sold for each individual segment category by the net sales for each segment category.
The Company utilizes product net sales and direct and indirect cost of goods sold for each product in reviewing the financial performance of a product type. Further allocation of Company expenses or assets, aside from amounts presented in the tables above, is not utilized in evaluating product performance, nor does such allocation occur for internal financial reporting. Sales to the Company’s joint ventures are included in the foregoing geographic and segment information, however, sales by the Company’s joint ventures to other parties are not included. The foregoing geographic and segment information represents only sales and cost of goods sold recognized directly by the Company. The geographical distribution of key financial statement data is as follows:
|  | As of February 28, 2015 |  |  | As of August 31, 2014 |
Brazil |  | $ | 1,065,105 |  |  | $ | 1,429,054 |
China |  |  | 1,268,072 |  |  |  | — |
India |  |  | 359,992 |  |  |  | 363,894 |
United States |  |  | 47,411,333 |  |  |  | 52,264,827 |
Total assets |  | $ | 50,104,502 |  |  | $ | 54,057,775 |
|  | Six Months Ended |
|  | February 28, 2015 |  |  | February 28, 2014 |
Brazil |  | $ | 1,418,236 |  |  | $ | 1,153,012 |
China |  |  | 20,732 |  |  |  | — |
India |  |  | 416,772 |  |  |  | 168,779 |
United States |  |  | 12,087,064 |  |  |  | 11,206,317 |
Total net sales |  | $ | 13,942,804 |  |  | $ | 12,528,108 |
|  | Six Months Ended |
|  | February 28, 2015 |  |  | February 28, 2014 |
Brazil |  | $ | (41,559 | ) |  | $ | (145,955 | )
China |  |  | (358,168 | ) |  |  | — |
India |  |  | (9,246 | ) |  |  | 5,800 |
United States |  |  | 2,184,424 |  |  |  | 3,307,688 |
Total operating income |  | $ | 1,775,451 |  |  | $ | 3,167,533 |
Total assets located in Brazil, China and India primarily consist of cash and cash equivalents, customer receivables and inventory. These assets are periodically reviewed to assure the net realizable value from the estimated future production based on forecasted sales exceeds the carrying value of the assets.

X
- Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration