XML 18 R29.htm IDEA: XBRL DOCUMENT v2.4.0.6
Note 20 - Segment Financial Information
 12 Months Ended
Dec. 31, 2011
SEGMENT FINANCIAL INFORMATION  
Segment Reporting Disclosure [Text Block]

20.    SEGMENT FINANCIAL INFORMATION  

 

Description of Products by Segment

 

t57 ititivein china has very re than 10% of the total reveune 4 (2010:$28,484) of a subsidiary as at Decebsidiary as at DeceentsIn accordance with ASC 280, “Segment Reporting”, the Group chief operating decision maker has been identified as the chief operating officer, who reviews consolidated results when making decisions about allocating resources and assessing performance of the Group. According to the management approach, the Company currently operates in three operating segments: (1) manufacturing of wire and cable products (“Manufactured products”), (2) distribution of copper and cable products manufactured by PEWC (“Distributed products”) and (3) sales, delivery and installation of wires and cables (“SDI”).

 

            Measurement of Segment Profit or Loss and Segment Assets

 

            The Company evaluates performance and allocates resources based on profit or loss from operations before interest, gains and losses on the Company’s investment portfolio, and income taxes. The accounting policies of the reportable segments, including transactions entered between reportable segments, are the same as those described in the summary of significant accounting policies.

 

 

 

 

Year ended December 31,

 

 

2009

 

2010

 

2011

 

 

 

 

 

 

 

Revenues

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues from external customers:

 

 

 

 

 

 

Manufactured products

 

$ 264,128

 

$ 396,059

 

$ 429,474

Distributed products

 

28,102

 

26,935

 

25,500

Supply, delivery and installation of wires and cables

 

34,008

 

23,600

 

16,972

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenues from external customers

 

$ 326,238

 

$ 446,594

 

$ 471,946

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Intersegment revenues:

 

 

 

 

 

 

Manufactured products

 

$ 12,235

 

$ 3,143

 

$ 3,283

Distributed products

 

-

 

9,898

 

13,960

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total intersegment revenues

 

$ 12,235

 

$ 13,041

 

$ 17,243

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total segment revenues

 

$ 338,473

 

$ 459,635

 

$ 489,189

 

 

 

 

 

 

 

Reconciling item

 

 

 

 

 

 

Elimination of intersegment revenues

 

(12,235)

 

(13,041)

 

(17,243)

 

 

 

Total revenues

 

$ 326,238

 

$ 446,594

 

$ 471,946

             

 

 

 

 

 

 

Year ended December 31,

 

 

2009

 

2010

 

2011

 

 

 

 

 

 

 

Segment profit (loss)

 

 

 

 

 

 

Manufactured products

 

$ 14,288

 

$ 53,429

 

$ 42,876

Distributed products

 

1,517

 

1,378

 

2,955

Supply, delivery and installation of wires and cables

 

889

 

242

 

57

Inventory impairment

 

23,949

 

1,974

 

(1,993)

 

 

 

 

 

 

 

Total segment profit

 

$ 40,643

 

$ 57,023

 

$ 43,895

 

 

 

 

 

 

 

Reconciling items

 

 

 

 

 

 

Corporate and other expenses

 

(24,228)

 

(28,371)

 

(42,079)

Exchange gain (loss)

 

507

 

3,041

 

(1,346)

Interest income

 

458

 

492

 

1,409

Interest expense

 

(1,597)

 

(1,364)

 

(2,217)

Share of net loss of equity investees

 

(40)

 

(21)

 

(58)

Gain on liquidation of subsidiary

 

568

 

-

 

-

Other income

 

2,111

 

1,032

 

1,032

 

 

 

 

 

 

 

Income from continuing operations before income taxes

 

 

$ 18,422

 

 

$ 31,832

 

 

$ 636

 

 

 

 

 

 

 

Segment assets

 

 

 

 

 

 

Manufactured products

 

$ 280,179

 

$ 374,634

 

$ 326,960

Distributed products

 

6,363

 

8,195

 

4,369

Supply, delivery and installation of wires and cables

 

864

 

359

 

357

 

 

 

 

 

 

 

Total segment assets

 

$ 287,406

 

$ 383,188

 

$ 331,686

 

 

 

 

 

 

 

Reconciling items

 

 

 

 

 

 

Corporate and other assets

 

5,383

 

493

 

1,168

Investment in equity investee companies

 

3,263

 

3,242

 

4,435

 

 

 

 

 

 

 

Total assets

 

$ 296,052

 

$ 386,923

 

$ 337,289

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Expenditures for additions to long-lived assets

 

 

 

 

 

 

Manufactured products

 

$ 3,260

 

$ 3,650

 

$ 8,775

Distributed products

 

-

 

-

 

-

Supply, delivery and installation of wires and cables

 

 

-

 

 

-

 

 

-

Corporate

 

-

 

3

 

113

 

 

 

 

 

 

 

Total expenditure for additions to long-lived assets

 

$ 3,260

 

$ 3,653

 

$ 8,888

 

 

 

 

 

Year ended December 31,

 

 

2009

 

2010

 

2011

 

 

 

 

 

 

 

Depreciation expenses

 

 

 

 

 

 

Manufactured products

 

$ (8,165)

 

$ (6,474)

 

$ (6,014)

Distributed products

 

-

 

-

 

-

Supply, delivery and installation of wires and cables

 

-

 

-

 

-

Corporate

 

(14)

 

(14)

 

(52)

 

 

 

 

 

 

 

Depreciation expenses of continuing operations

 

$ (8,179)

 

$ (6,488)

 

$ (6,066)

Depreciation expenses of discontinued operations

 

(762)

 

(369)

 

(396)

Total depreciation expenses

 

(8,941)

 

(6,857)

 

(6,462)

 

 

 

 

 

 

 

Impairment loss of long-lived assets and goodwill

 

 

 

 

 

 

Manufactured products

 

$ -

 

$ -

 

$ (8,816)

Distributed products

 

-

 

-

 

-

Supply, delivery and installation of wires and cables

 

-

 

-

 

-

Corporate

 

(77)

 

-

 

- 

 

 

 

 

 

 

 

Total impairment loss

 

$ (77)

 

$ -

 

$ (8,816)

 

 

 

 

 

 

 

Interest income

 

 

 

 

 

 

Manufactured products

 

$ 408

 

$ 454

 

$ 1,305

Distributed products

 

21

 

27

 

81

Supply, delivery and installation of wires and cables

 

29

 

11

 

3

Corporate

 

-

 

-

 

20

 

 

 

 

 

 

 

Total interest income of continuing operations

 

$ 458

 

$ 492

 

$ 1,409

 

 

 

 

 

 

 

Interest expense

 

 

 

 

 

 

Manufactured products

 

$ (1,414)

 

$ (1,203)

 

$ (2,050)

Distributed products

 

(59)

 

(73)

 

(88)

Supply, delivery and installation of wires and cables

 

(87)

 

(39)

 

(39)

Corporate

 

(37)

 

(49)

 

(40)

 

 

 

 

 

 

 

Total interest expense of continuing operations and discontinuing operations

 

$ (1,597)

 

$ (1,364)

 

$ (2,217)

 

 

 

 

 

 

 

Share of net loss of equity investees

 

 

 

 

 

 

Manufactured products

 

$ -

 

$ -

 

$ -

Distributed products

 

-

 

-

 

-

Supply, delivery and installation of wires and cables

 

-

 

-

 

-

Corporate

 

(40)

 

(21)

 

(58)

 

 

 

 

 

 

 

Total share of net loss of equity investees

 

$ (40)

 

$ (21)

 

$ (58)

 


 

 

            There is no sales of 10% or more of the total revenue to a single customer for 2010 and 2011. In 2009, sale to SP Powerassets Ltd. exceeded 10% of total revenue, which included sales of manufactured products, distributed products, and sales, delivery and installation of wires and cables, are as follows:

 

 

 

 

 

2009

 

 

 

Manufactured products

 

$ 10,398

Distributed products

 

22,746

Supply, delivery and installation of wires and cables

 

32,806

 

 

$ 65,950

   

             

Geographic Area Data

 

            Revenue from external customers is attributed to individual countries based on the customer’s country of domicile and is summarized as follows:

 

 

 

Year ended December 31,

 

 

2009

 

2010

 

2011

 

 

 

 

 

 

 

Revenues from external customers

 

 

 

 

 

 

Continuing operations

 

 

 

 

 

 

Thailand

 

$ 96,799

 

$ 165,191

 

$ 176,011

Singapore

 

94,782

 

70,154

 

86,474

Australia

 

34,574

 

46,288

 

61,457

The People’s Republic of China

 

90,768

 

146,529

 

138,970

Vietnam

 

4,550

 

9,752

 

5,106

Others (Southeast Asia)

 

4,765

 

8,680

 

3,928

 

$ 326,238

 

$ 446,594

 

$ 471,946

Revenue from discontinued operations

 

$ 35,993

 

$ 22,736

 

$ 30,210

 

 

 

 

 

 

 

 

Long-lived assets by the country of domicile are summarized as follow:

 

Long-lived assets by area:

 

 

 

 

 

 

Thailand

 

$ 28,002

 

$ 27,926

 

$ 19,894

Singapore

 

8,069

 

8,987

 

10,339

Australia

 

3,515

 

3,520

 

6,119

The People’s Republic of China

 

12,837

 

12,261

 

6,500

Others

 

18

 

8

 

62

Total long-lived assets

 

$ 52,441

 

$ 52,702

 

$ 42,914